BC surplus

[rookie314]

http://www.castanet.net/news/BC/171285/ ... -M-surplus

Welcome to the BC reality. That is the only thing that Christie cares about. We have a 730 million dollar surplus and are closing schools, letting go of CEA help for special needs, and SD23 had to find ways to deal with a 3 Million dollar deficit. Seniors have to pay for MSP premiums, prescriptions and ambulance rides. Education and health care suffer in BC so Christie can make herself look good.

[occasional thoughts]

A surplus budgeted for? To reduce our provincial debt? Or silly public accounting and poor budgeting? One is wise not to simply praise a public surplus (or deficit, frankly) without some analysis.

[Urbane]

As Vaughn Palmer says in his column:

The audited books show B.C. ended the year with a $730-million surplus on the operating side, coupled with a $2.4 billion jump in the provincial debt owing to the Liberals still borrowing to build roads, schools, hospitals, transit and other capital projects.
http://vancouversun.com/news/politics/v ... on-figures

So the accumulated debt continues to increase. It's not as if the government is just stockpiling money. We owe something like $50 billion now??

[flamingfingers]

Urbane wrote:

So the accumulated debt continues to increase. It's not as if the government is just stockpiling money. We owe something like $50 billion now??

No, the government is not just stockpiling money - it is stockpiling DEBT. Debt and Contractual Obligations easily doubles (and then some) your $50 billion guesstimate. Do some fact-checking and prove me wrong - I said FACTS - not BC Lib talking points, OK?

[Urbane]

If you look at the national debt clocks for the three largest provinces the per capita debt in Ontario and in Quebec is around $22,000 in each province. In BC it's only about $14,000 and that's one reason that the rating agencies have maintained our AAA rating. We should always keep the debt in mind though and not just the annual deficits/surpluses and not be foolish by, for example, keeping schools open that are no longer viable. We need a balanced approach and the present government has delivered to a large extent. I always find it fascinating that some of the same people who lambaste the current government for not spending enough on every program in sight also lambaste them for not paying down debt. Too funny! No, I don't count future bills many years from now as current debt any more than I count future revenues.

[flamingfingers]

Urbane wrote:

No, I don't count future bills many years from now as current debt any more than I count future revenues.

And is this how you feel about your mortgage and your credit cards - after all, they are 'future bills' , eh?

BTW - 'future bills' accrue interest that increases 'future debt'.

AND you didn't answer my challenge, did you?

[Urbane]

And is this how you feel about your mortgage and your credit cards - after all, they are 'future bills' , eh?

BTW - 'future bills' accrue interest that increases 'future debt'.

AND you didn't answer my challenge, did you?

Good grief! BC is in BETTER shape debt wise, and with our economy in general, than most other places but in your mind the government should be paying down debt while upping their spending on all sorts of programs. You've complained vehemently about Christy Clark and her predecessor not spending enough money while simultaneously complaining about debt.

In a perfect world we would have no debt, our taxes would be nil, and unlimited money could be spent on your pet programs. Alas, it's not a perfect world but the good news, I repeat, is that British Columbia is better off economically than most other places. Time to be happy!

[flamingfingers]

*removed*

[jetty1965]

A surplus budgeted for? To reduce our provincial debt? Or silly public accounting and poor budgeting? One is wise not to simply praise a public surplus (or deficit, frankly) without some analysis.

I think it comes from the crazy real estate market in Vancouver and starting to spread throughout the province. I believe there was a loop hole that was closed for the land transfer tax. This could be where the surplus came from.

[Even Steven]

Let's look at that from this perspective:

What would you rather have - surplus or deficit? I personally would rather have surplus. so, this is good news.

[GordonH]

Highest 3 debt Provinces:
#1 Ontario just shy 300 billion
#2 Quebec just shy of 190 billion
#3 BC just over 66 billion, next highest 1/3 this amount.

Added later: surplus mean nothing to me unless overall debt is lowered

[occasional thoughts]

Even, if you merely look at one spun figure, you've been sucked in by the spin. You've got to look at broader pictures as some of the posts here do to begin to get a more complete picture. Boasts about surplus or criticism of debt in absentia the whole picture are mere politics in our province.

[sooperphreek]

you all know that surplus/deficit is just a game.......right? it isnt surplus/deficit in a literal sense. it is in a political sense. in the end any government is ineffective and irresponsible with taxpayers money. its a circle of life thing. and they want us all to say hakunna mattata about it like urbane.

[Urbane]

you all know that surplus/deficit is just a game.......right? it isnt surplus/deficit in a literal sense. it is in a political sense. in the end any government is ineffective and irresponsible with taxpayers money. its a circle of life thing. and they want us all to say hakunna mattata about it like urbane.

Take everything that politicians say with a grain of salt while remembering to keep it all in perspective. Yes, we have a surplus, but yes the debt continues to go up. People want services but aren't all that enthusiastic about paying for those services. Is BC in better economic shape than most other places? Yes, it is. It's a mixed bag here but overall the bag has more positives than negatives.

[Even Steven]

you all know that surplus/deficit is just a game

If BC posted deficit, I don't think people would be supporting your logic and saying "Oh well it's just a game", they'd be outraged.