BC politics meets BC money…
The BC 2010 Budget was presented by Finance Minister Colin Hansen and the word war has heated up. The budget throws the province further into the red with increased spending…
“…an unprecedented $40.6-billion over the next fiscal year…That’s a $900-million increase from last years spending forecast”
- - National Post
“…But this year's forecasted $1.7-billion deficit includes a $460-million increase in overall program spending, money that will target family-oriented programs including youth sport, all-day kindergarten and childcare subsidies.”
“…Hansen introduced a no-surprises budget that increases spending on healthcare this year by $750 million, and on education by $140 million.”
“The provincial government re-committed Tuesday to a wage freeze in public sector bargaining and to cap lay offs at 5 per cent of the 30,000-member civil service — 1,500 full-time equivalent positions — over the next three years.
Overall the government is forecast to lose about 11 per cent or 3,500 public service jobs by 2013 through layoffs, retirements and resignations, according to the provincial budget.”
Of course NDP opposition leader Carole James is not pleased along with her cohorts BC Federation of Labour President Jim Sinclair and BC Teachers Federation President Irene Lanzinger. The job of the opposition is to put fire to the feet of the government so I have no problem with James disagreements…however she seems awfully weak, certainly not Premier material. Sinclair comes across as so far to the left that he can’t be taken seriously. Lanzinger seems to be a one trick pony. It would be nice if the left got its act together so that we could have a healthy alternative to the Liberals if need be.
The various business organizations are generally very pleased along with economists and accountants. I am not pleased that we are growing our debt as it hurts everybody in the province particularly the neediest ever the longer term. Accumulating debt is not healthy over extended periods however the government is taking steps to mitigate the damage. Their actions in regards to the civil service are helpful and I am hopeful that with prudent fiscal care things will become more manageable. The global fiscal situation is challenging for every political arena these days.
Debt is very sticky…it takes a long time to wash it off…
Reality check, it is easy to complain about insufficient funding for health and education. As long as anybody gets ill and dies or anybody lacks the highest degree of education we have not succeeded in acquiring an “A”. But all the wealth of the planet is insufficient to get an “A” in these areas as they are boundless. Childcare subsidies are outrageous, whatever happened to personal responsibility? Premier Campbell is looking pretty good right now…but please keep your shoe on the neck of the debt…
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Eventually you can come to love debt! It is like looking at stars ... sooooo big, yet soooo far away!
I was talking to friend on the Left about this…she is very conservative with her own money but wants the government to spend money like it is going out of style on social programs etc…
I pointed out that we were going into debt to pay for these programs…she dislikes personal debt very much but wants the government to spend more particularly on single moms…I asked her if she ever gave money to any single moms she knew…she said no it was the governments job…it was a complete disconnect…
Interestingly the Left hates corporations and so many foreign countries like China or Saudi but they love to pay them massive amounts of interest on loans…
Once you step on debt it is very sticky…
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