FACT CHECK — Solomon: Hawaii 'On The Verge Of Bankruptcy'03/15/2013
During floor session in the Hawaii Senate on March 7, Big Island state Sen. Malama Solomon strongly defended a bill that sets up a public-private-partnership authority to help spark development.
While critics have said the authority too closely resembles the much-maligned and soon-to-be-repealed Public Land Development Corporation, Solomon said the PPPA would help create jobs and improve the economy.
"We are on the verge of bankruptcy — 2016," she said. "That's what we are talking about here, you know?"
Reached by Civil Beat the next day, Solomon said "we" means "Hawaii" and the cause of bankruptcy would be the state's unfunded liabilities when it comes to health and pension benefits promised to public workers when they retire.
Is Solomon correct? Will Hawaii be on the verge of bankruptcy in just three years?