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Tuesday, February 21, 2006

Another day older and deeper in debt

The B.C. Liberal government has just unveiled its "Balanced Budget" for 2006-07 and, wouldn't you know it, there are both targetted goodies and targetted tax cuts. Good news for everyone!

But while we're all being dazzled by this budget glitter, let us not forget to read deep down into the government's budget release, where we will find these lines:

"The three-year plan forecasts taxpayer-supported debt at $27.9 billion in 2006/07, $29.1 billion in 2007/08, and $29.9 billion in 2008/09, an average annual increase of 2.9 per cent. In addition, self-supported commercial Crown corporation debt is forecast at $7.9 billion, $8.6 billion and $9.5 billion over the same time period."

In other words, the budget may be "balanced," but debt is still rising. Read here for yourself.

Posted by Terry O'Neill on February 21, 2006 in Canadian Provincial Politics | Permalink


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I would suppose that this budget would make a point to go even more into deficit after the Harper win . Much easier to make the fiscal imbalance argument that way . Ask for a ton of money and you`ll get the half ton you are after from the feds.
It`s pretty sad when one of the ' haves ' is so cash strapped . What is Quebec going to ask for now , half a billion ?

Posted by: daveh | 2006-02-21 5:34:29 PM

The budget in BC at a glance looks like a pig fest for the less motivated.

Posted by: Duke | 2006-02-21 8:02:55 PM

Take as much money from the motivated and give it to the less motivated. That will help you get re elected since more than half of voters are less motivated. IE losers who bleat for other peoples money to pay for their stupidity, laziness and bad choices.

spare the rod and spoil the voter.

Welfare thy name is Canada!

Posted by: Duke | 2006-02-21 8:05:31 PM

half a trillion , I meant to say.

Posted by: daveh | 2006-02-21 8:31:38 PM

Hey daveh .. half a trillion ... half a billion ... most Candians can't fathom anything beyond about a hunert and half eh!

Posted by: Duke | 2006-02-21 9:04:02 PM

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