This Is What I Mean

…when I talk about taking politicians out and hanging them, if for no other reason than pour encourager des autres:

https://www.reuters.com/article/us-storm-irma-virginislands-insurance/u-s-virgin-islands-spent-money-intended-to-help-after-hurricanes-idUSKCN1BH38I

The U.S. Virgin Islands for years redirected money intended to help pay insurance claims after large disasters for other needs, raising the vulnerability of residents as Hurricane Irma ravishes the territory.

During years of yawning budget deficits, the U.S. protectorate tapped the V.I. Insurance Guaranty Fund to pay for other public services, according to government financial records reviewed by Reuters. Since 2007, nearly $200 million was transferred from the fund, including $45 million in fiscal 2011.

(…)

In 2012, government leaders reduced the minimum balance of its insurance guaranty fund to $10 million from $50 million. The fund earns about $16 million annually in revenue.

For those of you who have trouble with that math stuff, that’s a reduction of 80%.

Please recall that the major industry on those islands is tourism. No tourists, no inflow of cash. Would you care to wager where most of the money on hand is going to be spent? Yep, towards the hotels and resorts that the USVI depends on. You know who’s getting the short end of the stick? The people who actually keep those hotels and resorts running: the maids, cooks, valets, etc. Of course they’ll be expected to show up and work, never mind that when their day is done, they can look forward to sleeping in a tent.

Leave a Reply