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Post by Logan on Jan 6, 2017 4:49:33 GMT -6
The Hawaii state budget figures show a record high surplus of over $1 billion in 2016. Look at all of the extra money! -snip- So, where did the surplus go? Most of the money was used to make catch-up payments into the state’s $11 billion unfunded liabilities for state health benefits. Normally, the unfunded liabilities are paid in quarterly installments throughout the year, like paying off a credit card a little at a time. But last July, Governor Ige put $725 million into the Employer Union Trust Fund in one lump sum, to help make payments early. Read more: www.hawaiifreepress.com/ArticlesMain/tabid/56/ID/18825/Who-spent-Hawaiirsquos-1-billion-surplus.aspx
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