Guam – Governor Eddie Calvo says that the deficit GovGuam had in FY 2014 is a cautionary tale proving that GovGuam “can’t rest easy” because we’re “not out of the woods yet”
In his weekly address the Governor says that although our government’s financial position is stronger than it has been in decades we still ran a deficit. The Governor also points out that most of the items contributing to the $65 million dollar deficit are one-time items that we won’t see again. The Governor says that because these items were all paid there is no remaining debt which means there is no impact on this current year. The Governor says that this deficit should serve as a reminder that we must continue to manage our resources wisely and grow our economy.