Bermuda's government debt has skyrocketed to $1.2 billion, 580% higher than 2004, as spending has exceeded revenue since 2003. The government has relied on borrowing to pay current expenses for the last 3 years. At the same time, Bermuda's job market has weakened, with fewer jobs for Bermudians despite protectionist policies. To address these issues, the document proposes reforms like freezing the civil service size, establishing a tourism authority, redeveloping Hamilton, and creating a risk institute to attract investment firms.