Dear Source:
I agreed wholeheartedly with Malik Sekou's column regarding the GERS unfunded liability and the detrimental effect this issue will have on the future retirees, and the economy, if this severe problem continues to be ignored. Since 1994 I have warned many government employees and government officials about this ticking economic time bomb. But like every other problem in Territory, until it explodes, crashes, or burns there is no immediate need to fix it. Well, the fuse on the bomb continues to get increasingly shorter.
It is no surprise that none of the elected officials has made this a priority on their political platform because they are the biggest beneficiaries, and perpetrators, of this enormous and growing debt. After all, no pending retiree wants their nine-course dinner reduced to a brown bag lunch. Therefore, they continued to pass the buck to the next legislature and government administration. Their attitude is as long as the river (retirement funds) does not run dry during their afternoon dip, and it's not their concern. As we have recently learned, the river has substantially receded.
I thank Malik for being honest and candid about this long ignored problem. Let's hope the rest of the candidates, and incumbents, wake up to this lurking issue.
Eric Pena
Brooklyn, NY
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