Hawaii 2010 revenues off predictions

SUBHEAD: Council on Revenues are just throwing numbers up on a wall and seeing what will stick. image above: The Hawaii Council on Revenues at work in January 2009 From http://www.allhawaiinews.com/2009/01/state-budget-down-250-million.html By Brad Parsons on 13 October 2009 in Aloha Analytics - http://alohaanalytics.blogspot.com/2009/10/hawaii-council-on-revenues-forecast-for.html

First, I went to a Hawaii Legislative presentation recently where they gave out a handout that showed that the Council on Revenues forecasts negative growth of -1.5% for FY 2010 which we are in the 4th month of now. It turns out that Hawaii is already at -9.7% for the first 3 months of FY 2010. The Council on Revenues are also forecasting growth of 6.5% FY 2011, 6.0% FY 2012, 6.0% FY 2013, and 6.0% FY 2014. I questioned these numbers to the Legislators, but I think it just went in one ear and out the other. As far as I am concerned the Council on Revenues are "throwing numbers up on a wall and seeing what will stick, and so far nothing is sticking." This is important because other entities, like little backward utilities and their detached consultants, are relying upon these type forecasts to project comparable unrealistic energy demand growth in 2011 thru 2014, and they are using that to justify further dead-end investment in fossil fuel generators. I propose to you right now, that so-called economists and academia in general are failing modern day society with their bogus theories and lack of understanding of the real world.