Gov. Neil Abercrombie announced Tuesday that he recently met with bond purchasers and major credit rating agencies in Los Angeles and New York to confirm Hawaii's fiscal condition.
While meeting with the credit agencies, Abercrombie says it was clear that the shutdown of the federal government could have serious detrimental effects on the economies for all states.
"The State of Hawaii cannot substitute for the federal government nor assume its obligations. However, with the report from the Sequestration Impact Response Team in hand, resources funded this past legislative session, and the readiness of all departments in the administration to respond to the shutdown, we are confident in our ability to address immediate contingencies," said Abercrombie. "It is the clear responsibility of Congress to end the shutdown as quickly as possible and to meet continuously until that is accomplished."
Abercrombie also says the federal shutdown could also compromise much of the accomplishments that Hawaii has achieved in the past few years emerging from the economic recession.