A FEW days ago, one of the governor’s spokesfolks implied that the governor might not, after all, be embarking on his pilgrimage to Wall Street credit rating giant Standard & Poor’s, and the legislature’s to blame.
On the Thursday evening TV news, Governor Camacho himself made similar comments, citing the legislature’s inability to deal with his hodge-podge revised budget bill in a timely manner. OK — he’s not going, but it has nothing to do with the legislature or the budget. He’s not going because he knows what will likely happen when he confronts the savvy S & P analysts with some half-baked schemes to marginally improve the GovGuam financial outlook, none of which includes two indispensable ingredients: cutting personnel costs and raising taxes — especially real estate taxes, which are so far below any others in the nation that they’re hardly worth mentioning as a revenue source.
He’d be lucky to come away from the meeting with even the current abysmal GovGuam credit rating intact. Governor Camacho and the legislature are mutually floundering in the quicksand of growing deficit and looming insolvency, and equally clueless about what must be done to avert it.
What’s actually transpiring is an interesting and pitiful exercise in futility, so we may as well just lean back and watch the financial train wreck.

DAVE DAVIS
Yigo, Guam