Wednesday, November 28, 2012
The six year old is only a child playing a game -- the fiscal well-being of our province however, is NOT child's play
I caught news at top of hour this morning (10am - Nov 28th) on the LATEST increases to BC's provincial deficit.
Sadly, none of this should have been news to Christy Clark and the BC Liberals.
Right after the news update, CKNW's Bill Good then asked what people thought of the increase ... and if they were concerned.
IF the media made it clear (if they themselves even understand it) people would indeed be VERY concerned, with the long term results, of these ever increasing annual budget deficits! The DEBT is ballooning, and it has to get paid at some point. We cannot simply keep on borrowing.
People don't understand what these deficits mean, and are doing, and that is a shame. I also think that is what the government is counting on.
The result of that is millions and millions of dollars, EACH DAY, that are NOT available to provide services to British Columbians. Instead, those dollars ($6.5 million daily!) go to make interest payments on that debt -- payments to foreign countries and financial institutions.
A six year old can also claim to be a rocket scientist.
Neither is true ... but at least the six year old is only a child playing a game. The fiscal well-being of our province however, is NOT child's play.
I'm Alan Forseth in
Sadly, none of this should have been news to Christy Clark and the BC Liberals.
Right after the news update, CKNW's Bill Good then asked what people thought of the increase ... and if they were concerned.
IF the media made it clear (if they themselves even understand it) people would indeed be VERY concerned, with the long term results, of these ever increasing annual budget deficits! The DEBT is ballooning, and it has to get paid at some point. We cannot simply keep on borrowing.
People don't understand what these deficits mean, and are doing, and that is a shame. I also think that is what the government is counting on.
The result of that is millions and millions of dollars, EACH DAY, that are NOT available to provide services to British Columbians. Instead, those dollars ($6.5 million daily!) go to make interest payments on that debt -- payments to foreign countries and financial institutions.
A six year old can also claim to be a rocket scientist.
Neither is true ... but at least the six year old is only a child playing a game. The fiscal well-being of our province however, is NOT child's play.
I'm Alan Forseth in
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1 comment:
Many people think a "balanced budget" means that the government is only spending what it takes in in revenues. They don't realize that a balanced budget can involve massive borrowing as part of the budget. Knowing this, governemts trump up the "balanced budget" statement but rerely say how much they're borrowing to balance the budget.
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