If you decide to read on, make sure you have some Tylenol, and an antacid, handy

The other day I was talking with a media friend, and had mentioned I was thinking of taking a look at how BC's debt has climbed over the years.  Well I did indeed do that, and now I am sorry I did. If you decide to read on, make sure you have some Tylenol, and an antacid, handy.

NDP elected in 1991

Total provincial debt … $9.82 billion

NDP re-elected in 1996

Total provincial debt … $19.53 billion

During the 5 year period of 1991 to 1996, the provincial debt increased by $9.71 billion ($1.95 / year)

BC Liberals elected in 2001

Total provincial debt … $33.9 billion

BC Liberals re-elected in 2005

Total provincial debt … $35.9 billion

BC Liberals re-elected in 2009

Total provincial debt … $37.5 billion

BC Liberal Budget for 2011 … provincial debt of $45,154 Billion

And from the official Budget and Fiscal Plan of February 21^st, 2012 … for the years 2012 / 2013 to 2014 / 2015 comes the following figures:

Dix-onomics? Sounds like the pot calling the kettle black to me

British Columbian taxpayers will continue
to be flattened by rising government debt

Today is budget day for Finance Minister Kevin Falcon, and the BC Liberal government.  Yesterday (February 20, 2012) Bloomberg had the following story, “British Columbia to Beat Deficit Targets, Finance Minister Falcon Says”.   

In this story they stated:

Falcon, who is scheduled to unveil his first budget tomorrow, said that as recently as November he was concerned a deepening of Europe’s sovereign debt crisis would further delay the U.S. recovery, undermining the western Canadian province’s effort to restore fiscal balance.

The government forecast in a November update that it would have a shortfall of C$3.1 billion ($3.12 billion) in the year ending March 31; C$805 million in 2012-2013 and a surplus the following year.

The current fiscal year’s deficit had originally been forecast at C$925 million. That figure widened to cover the cost of reversing a value-added tax that was rejected by voters in a referendum in August.

Debt is debt --- and deficits are deficits.  Simply put, this government continues to spend more money than it takes in. 

BC Liberals are doing a great job financially for our province? ... Hogwash!

In a Letter to the Editor (September 14^th 100 Mile Free Press), writer Joe Sawchuck states …

“The present B.C. Liberal government is on the right track regarding the management of British Columbians’ taxpayer dollars … the BC Liberals inherited a "have-not" province from the former NDP government. In 2002, after being government for a year, the BC Liberals once again made B.C. a "have" province … why would we ever think of changing the guard when B.C. is well managed?”

So Joe … you think the BC Liberals are doing a great job financially for our province??  Hogwash -- they are simply NDP light when it comes to spending.  I would encourage you to read the BC Budgets "Summary: Budget and Fiscal Plan – 2011/2012 to 2013/14" 

This government document shows total provincial debt at $47 billion 757 million for 2010/11 ... $53 billion 437 million for 2011/12 … a projected debt of $57 billion 572 million for 2012/13 and projected debt of $60 billion 355 million … and that was before the referendum vote to abolish the HST.