Friday, March 17, 2017

Incurring a $10.3-billion deficit in 2017-2018 to maintain the province’s $54.9-billion budget is a careful and responsible approach, Notley said at a news conference held outside a south Edmonton school.---“The saddest part is that the NDP doesn’t seem to care,” Wildrose Leader Brian Jean said in the statement.---------Julie Ali · University of Alberta This is a bad budget. As families we know that we should not spend more than we earn. Also we understand that we can't buy stuff on credit without credit charges. Government does not act responsibly when it spends more than is coming in and certainly we could avoid the interest charges on the things we are buying on credit. Here is another way to do the work of government--don't spend like you have an unlimited balance because you don't. Taxpayers are fed up of paying for government workers who do not give us value for the money spent. I am tired for example of the talking heads in the executive of both the AHS and Covenant Health groups. Why am I paying for staff who do not provide deliverables? There is no sort of interest in the continuing care system by the so called people's party. There is no sort of plan that I can determine for how they are going to make improvements in the care of our booming senior population. I see nothing other than chatter, waste of cash and unfortunately an increasing debt load that will impact our ability as a province to hep our most vulnerable citizens. The main culprit in all of this? It has been the PCs in the past who did not get a fair return for our oil and now the NDP who are wasting what little we do get now in rather dubious outlays of cash. But there you go. We elect ordinary citizens to government. They become entitled and acquire odd grandiose notions about their power. And we have to pay for the poor decision making. It's part of the revolving door of democracy and at least with the NDP we won't be stuck with them for 44 years as we were with the poor managers of the Tories.--


http://edmontonjournal.com/gallery/malcolm-mayes-cartoons-for-march-2017

Malcolm Mayes cartoons for March 2017





How Ms. Notley could tell us that becoming Credit Card Province is a good thing is beyond my understanding. Sure some debt is necessary as when you buy a house as a family. But the best thing to do when you do buy a big thing is to be reasonable and pay it off as soon as you can or simply not buy at all.
In this budget we are spending more than we need to and we aren't decreasing expenditures so in my opinion its a bad budget.
I don't like debt for no good reason.
I don't see any reason to add more to the costs of running government and having a debt that requires debt servicing charges is dumb. We could use the debt servicing charges money to pay for the costs of seniors in the continuing care system instead of adding to the profits of banks and adding to the debt load of our kids.
Dumb budget.
Better to live within your means.
Better to do without.
Better to lay off the elite and executive staff who have been milking the system for decades.
Better to do the hard work of deferred gratification rather than spending for no good reason.
#CreditCardProvince--Becoming credit card province is a reasonable matter if you have the future prospect of increased income. But I don't see any increased income in the future but certainly there is increased debt. What would have been more prudent for the GOA to do would have been to cut jobs at the ABCs--and decrease pay grades. I'd say that all executive staff and managers need to have salaries decreased with positions lost as well. We can't keep paying for the rich and famous in government and in the ABCs. We are not made out of money. Oil will not recover in terms of price. We have a recession that is not improving. Spending money we do not have is not a good tactic to stimulate the economy.
In any case, government will do what it will which is waste our money.
We should not behave like government.
We should live within our means, eliminate debt and not use the credit card for fancy purchases that we can't benefit from.
It's easier for us to do this sort of restraint than it is for the GOA but the time is coming when restraint won't be a choice--there will be no other way.

Laying off workers and delaying construction to balance the budget would do more harm than good, Alberta Premier Rachel Notley said Friday.
EDMONTONJOURNAL.COM


http://edmontonjournal.com/news/local-news/debt-filled-budget-prudent-and-absolutely-manageable-rachel-notley-says

Debt-filled budget 'prudent' and 'absolutely manageable,' Rachel Notley says

Published on: March 17, 2017 | Last Updated: March 17, 2017 3:26 PM MDT
Alberta Premier Rachel Notley meets a lizard at Monsignor Fee Otterson School in southwest Edmonton on Friday March 17, 2017, where she met with parents and educators to talk about the provincial budget.
Alberta Premier Rachel Notley meets a lizard at Monsignor Fee Otterson School in southwest Edmonton on Friday March 17, 2017, where she met with parents and educators to talk about the provincial budget. LARRY WONG / POSTMEDIA NETWORK
Laying off thousands of workers and delaying hospital and school construction to balance the provincial budget would do more harm than good in the long term, Alberta Premier Rachel Notley said Friday.
Incurring a $10.3-billion deficit in 2017-2018 to maintain the province’s $54.9-billion budget is a careful and responsible approach, Notley said at a news conference held outside a south Edmonton school.
“We know people are worried about it,” Notley said of the forecasted $71.1-billion debt by 2019. “We also know that’s the choice that we have to make and we also know that it is prudent, careful, and absolutely manageable.”
Replacing and repairing aging public buildings and keeping health and school programs intact allows Alberta to “take part” in economic recovery, Notley said.
“We know (fiscal responsibility) matters to Albertans, too. But you have to have a steady hand and plan carefully, to do it carefully, while protecting Albertans, giving them the services they need, making life more affordable, stimulating job growth, and making sure services like we see here today right in this school are available for families in the future,” Notley said.
The Wildrose Opposition warned Friday Alberta’s increased debt load could lead to another downgrade of the province’s credit rating.
Running another deficit and accumulating more debt is bad for the province’s credit, rating agency Moody’s said in a Friday statement.
“Alberta’s rapidly rising debt burden, protracted deficits and above-inflation expense growth continue to put significant pressure on its rating,” Moody’s assistant vice-president Adam Hardi said in a news release.
Credit rating agency DBRS said in a Friday statement the government’s plan to take on more debt may erode its advantage over other provinces, and may be too much red ink to keep its AA (high) rating.
“While DBRS takes comfort in Alberta’s currently low debt burden and expected economic recovery, the fiscal plan demonstrates a lack of willingness to contain debt growth, which may exhaust flexibility within the province’s current ratings in the near to medium term,” said a company statement.
Alberta Education Minister David Eggen, left, and Alberta Premier Rachel Notley talk about the provincial budget at Monsignor Fee Otterson School in southwest Edmonton on Friday, March 17, 2017. LARRY WONG /POSTMEDIA NETWORK
A Wildrose news release Friday said Albertans could be on the hook for even higher interest payments if the province’s credit rating takes another hit.
“The saddest part is that the NDP doesn’t seem to care,” Wildrose Leader Brian Jean said in the statement.
Notley said Alberta’s growing debt load must be considered in the national context. The province has the lowest debt to gross domestic product ratio in the country, and should have the second-lowest ratio by 2019, she said.
“As much as the opposition would like to pretend that everybody can have it all, you have to make choices,” Notley said.
On Friday, NDP cabinet ministers were out defending and promoting goodies in the provincial budget.
Finance Minister Joe Ceci told an Edmonton Chamber of Commerce luncheon that growth driven by oil and manufacturing exports gives him cautious optimism for the provincial economy.
Broad-based recovery in the manufacturing sector was already apparent at the end of 2016 and is expected to continue into 2017, he said. The government has forecast 2.6 per cent GDP growth this year.
Notley and Education Minister David Eggen were at Monsignor Fee Otterson K-9 school Friday morning to explain the repercussions of reducing school fees — particularly for suburbanites whose children must take long bus rides to school.
If approved, the government’s Bill 1: An Act to Reduce School Fees would prevent schools from charging for basic school supplies and for school bus rides longer than 2.4 kilometres.
Parent Danielle Morimoto said she would save more than $300 a year for her six-year-old son Stanley to ride the yellow bus to school if the bill succeeds.
With files from Stuart Thomson
jfrench@postmedia.com


Julie Ali ·
This is a bad budget. As families we know that we should not spend more than we earn. Also we understand that we can't buy stuff on credit without credit charges.

Government does not act responsibly when it spends more than is coming in and certainly we could avoid the interest charges on the things we are buying on credit.

Here is another way to do the work of government--don't spend like you have an unlimited balance because you don't. Taxpayers are fed up of paying for government workers who do not give us value for the money spent. I am tired for example of the talking heads in the executive of both the AHS and Covenant Health groups. Why am I paying for staff who do not provide deliverables? There is no sort of interest in the continuing care system by the so called people's party. There is no sort of plan that I can determine for how they are going to make improvements in the care of our booming senior population. I see nothing other than chatter, waste of cash and unfortunately an increasing debt load that will impact our ability as a province to hep our most vulnerable citizens.

The main culprit in all of this? It has been the PCs in the past who did not get a fair return for our oil and now the NDP who are wasting what little we do get now in rather dubious outlays of cash. But there you go.

We elect ordinary citizens to government. They become entitled and acquire odd grandiose notions about their power. And we have to pay for the poor decision making. It's part of the revolving door of democracy and at least with the NDP we won't be stuck with them for 44 years as we were with the poor managers of the Tories.
LikeReply2 minsEdited
Chuck Keil
"We know people are worried about it,” Notley said of the forecasted $71.1-billion debt by 2019. “We also know that’s the choice that we have to make and we also know that it is prudent, careful, and absolutely manageable.”

Part of this "absolutely manageable" plan includes a projection of an average of $68 oil by 2020. Here's an EIA forecast:
"EIA forecasts Brent crude oil prices to average $55/b in 2017 and $57/b in 2018. West Texas Intermediate (WTI) crude oil prices are expected to average about $1/b less than Brent prices in the forecast."

Math suggests that WTI will average $55/b thru 2018 meaning that to get to $68/b over 4 years 2019 and 2020 will need to average $81/b.

The Alberta government calls this manageable? Alberta's future is at risk, an election based on this budget needs to happen sooner rather than later, especially when later equals $100B debt, never mind the suggestion of $71.1B.
UnlikeReply41 hrEdited
Terry Peterman ·
Yes the budget, work 45 years for a megger pension and your government takes away more more and more. I certainly didn't see anything on this budget for seniors, I know seniors who are they? They are unimportant --- lock them up in home and for goodness sakes don't let the bellyache about anything.
LikeReply140 minsEdited
Louis Tiedemann
When the NDP got into power, they were going to balance the budget by 2017, and there was no mention of a carbon tax. Then that changed to 2018, then 2019 and then 2024. We've been lied to right from the beginning by this government. Speaking of lies, haven't heard much about our social license lately.
LikeReply42 hrs
Dar Dealmeida
The budget is good for Albertans and proves the Premier is totally confident on the approved pipelines and the new investments moving in. Trudeau's success with the Canadian European Trade Agreement is thought to be the best trade agreement ever established and will help Albertans as well as Canadians plus the work the NDP government and Trudeau have done to establish trade with Asia is also a big asset. We are going to need improved hospitals and a new one with the large baby boomer population, our schools throughout the province are a mess, too old and inefficient. It is also gets Albertans back to work, again stimulating the economy. Anyone that has had to sit in Emergency at any of the Edmonton hospitals should know this and anyone with children in school will recognize this, ten years ago the government knew that many of the schools in Alberta were costing too much to maintain but they chose not to do anything about it!
LikeReply27 mins
Julie Ali ·
It is true we do need some infrastructure investment.
However we are not required to hold onto expensive staff at the ABCs (agencies, boards and commissions).
The government needs to do the cuts and do them fast.
Otherwise the pruning will be more drastic when we hire the Wildrose Party in the next provincial election.
Citizens in the private sector are tired of paying for the entitlements of executive staff and the elite in government and at public bodies.
It's time for a change. Value for our tax dollars is required and we are not getting it. This budget simply wastes more of our tax dollars.
LikeReplyJust now

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