It was just more than three years ago that the Caymanian
Compass wrote the following on its editorial page; 15 May, 2009 to be exact:
“The time has come for hard decisions. A crucial job of the
next government, whoever is fortunate enough to receive the public’s vote of
confidence [in the then-upcoming 2009 general election], is to get this
country’s financial house in order.
“It cannot, or rather should not, be done by borrowing more
money. The ruling government will have to decide between cutting spending and
“…We realise, despite certain claims to the contrary, that
the government is not out of money. However, if we continue down the path of
deficit spending until things get better, we may soon arrive at just that
situation.” Fast-forward to present day: We’ve arrived.
The government now has four calendar days to pass some sort
of temporary spending plan to get the country through the next few months.
Repeated calls to reduce civil service largesse and wasteful practices have not
been heeded despite routine reports issued from entities like the auditor
general’s office. The best advice of consultants has been ignored or resisted
by individuals seeking to protect “their territory”.
In short, Cayman’s financial chickens have come home to
roost. They balked at making the correct decisions when those were needed; now
the situation has become dangerous.
We are not blaming the ruling United Democratic Party
government alone; they had lots of help from the previous People’s Progressive
Movement administration and even more so from a stubborn, uncooperative civil
service. But as they say, it is the UDP’s problem now to fix.
We wish them the very best of luck. We all fervently hope
our country will come through this crisis intact.