I am a resident of Maryland but also a native Virgin Islander. As a result, I am an avid reader of the Source and listener of WVWI (online).
As an economist I also follow Maryland state and national economic trends. I am
truly amazed at Maryland's fiscal performance and disheartened by the fiscal crisis that the V.I. is in.
Here in Maryland, we are projected to end our fiscal year with a budget surplus of $600 million, or $117 more per person. In contrast, the V.I. (according to the territorial government) is projected to have a budget deficit of $67.5 million, or $650 less per per person.
The most the obvious and primary reason for this stark contrast is that while Maryland and the rest of the nation is enjoying one of the longest running periods of economic growth, the V.I. is mired in an economic quagmire. Part of the reason that the V.I. is experiencing this lack of economic growth is the lingering results of the accumulated effect of devastating hurricanes.
However, other reasons include the waste, corruption, and utter inefficiency that characterizes territorial government. (I used to work for the VI government). Many individuals in the V.I. continue to witness such and are either afraid to expose such or are a part of it themselves.
Unfortunately, it may take something like a federally appointed control board to reign in the V.I. government and bring some rationality to the situation at hand.