Senators praise bond efforts

by Ken Quintanilla

Guam - Minority Leader Frank Blas, Jr. says the ratings of GovGuam bonds today are a testament to the hard work of the Calvo Administration and the teamwork of the Guam Legislature in getting the government back on solid, financial ground. "The money that we have for many years has taken and the government has held and has sometimes led the belief that was theirs to continue to spend," he explained.

Majority Leader Rory Respicio commends the governor's ability to demonstrate optimism in the bond market and says the Legislature was instrumental in providing the statutory mechanism to go out and borrow the money to give taxpayers their money.

But Respicio is concerned the governor's optimism about the economy isn't necessarily the same here on Guam with possible layoffs and significant cuts. "I think for him to paint the picture in the bond market that our economy is strong and stable and to get such a good rating as a result, but what's happening domestically in our case what's happening on Guam, the people probably don't feel the same way," he said.