The Hawai'i State Legislature opened this morning with lawmakers urging fiscal prudence in light of declining state tax revenue while celebrating the ascension of Hawai'i-born President Barack Obama.

Following opening ceremonies that included songs and traditional Hawaiian chants, state House and Senate leaders preached the need to keep all revenue generating options on the table while maintaining needed state services for the most vulnerable residents.

The state is facing a $125 million deficit for the current fiscal year ending June 30, and lawmakers urged patience. Senate President Colleen Hanabusa, D-21st (Nanakuli, Makaha) spoke of the need to create a Senate oversight committee to meet weekly to ensure that capitol improvement projects are started in a timely and appropriate manner.

All options are on the table for creating revenue and limiting expenditures, including legalizing gambling and suspending for one year the 0.5 percentage point general excise tax surcharge for the Honolulu rail project, she said.

"Here at home, where we felt the pride of accomplishment in the example of a young President whose life foundation was laid just a few miles from this building, we face our own challenges," said Hanabusa, according to text of her speech. "Hawai'i has not been spared the crisis facing the rest of this nation. These are the times when we can no longer afford partisanship or politics as usual. Times when our obligation is to bring the service, vision, and leadership we were elected to provide."

House leaders spoke of the need to maintain a "basic safety net" of social and health services while combing the budget for possible cuts, and laying off state workers should be avoided.

Education and unemployment benefits must continue with little impact and lawmakers must be mindful of the basic needs of their constituents, according to prepared remarks by House speaker Calvin K. Y. Say, D-20th (St. Louis Heights, Palolo Valley, Wilhelmina Rise).

"In these times of extraordinary economic and budgetary challenges, we have much for which to be 'thankful.' Meeting those challenges will surely build our strength and character," said Say. "We must have 'confidence' in our ability to improve our state – but a 'confidence' built on a foundation of hard work, study, experience, and cooperation."