Alberta's New Budget

[SamStorm]

Well after 5 months of waiting we are finally getting a budget in Alberta from the Dipper government.
Who's excited? Thoughts or opinions?
Who wants to guess what new taxes and fees there will be?
Largest deficit in Albertas history at approx 6.5 billion.
Time to break out the lube, could be a rough ride for the next few years.

The NDP reminds me of this capital one commercial from a few years ago:

https://www.youtube.com/watch?v=0EcDpBTuF_8

 

[hevy_chevy67]

Highlights here.
Alberta government to loosen purse strings to spark economy - Edmonton - CBC News

Looks like a provincial debt of $37 billion by 2017 if things stay the course.

 

[X-it]

Spending your way out of debt, it is so simple why hasn't anyone thought of it before? The budget just balances itself.

 

[S.W.A.T.]

It's actually a proven solution. It is more proven that if you keep cutting to save money that doesn't work, ask Greece how cutting programs to save money works. We have lot of infrastructure to build and replace. Sure it's not what many of us aren't use to or the pay isn't the same but work is work and food on the table is better then lining up at the welfare office. Just my opinion. But as the old saying goes some times you have to spend money to make money.

 

[fynnigan]

It's actually a proven solution. It is more proven that if you keep cutting to save money that doesn't work, ask Greece how cutting programs to save money works. We have lot of infrastructure to build and replace. Sure it's not what many of us aren't use to or the pay isn't the same but work is work and food on the table is better then lining up at the welfare office. Just my opinion. But as the old saying goes some times you have to spend money to make money.

didnt skeena bulkley valley vote ndp in the federal election ? nuff said

 

[DRD]

It's actually a proven solution. It is more proven that if you keep cutting to save money that doesn't work, ask Greece how cutting programs to save money works. We have lot of infrastructure to build and replace. Sure it's not what many of us aren't use to or the pay isn't the same but work is work and food on the table is better then lining up at the welfare office. Just my opinion. But as the old saying goes some times you have to spend money to make money.

Any sources to back up your claim?


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[800HMX]

It's actually a proven solution. It is more proven that if you keep cutting to save money that doesn't work, ask Greece how cutting programs to save money works. We have lot of infrastructure to build and replace. Sure it's not what many of us aren't use to or the pay isn't the same but work is work and food on the table is better then lining up at the welfare office. Just my opinion. But as the old saying goes some times you have to spend money to make money.

You are kidding right!

Greece didn't get into the problem they are in because they cut programs. Very much the opposite. A record Alberta Defecit followed by record Debt - pathetic.

 

[ABMax24]

It's actually a proven solution. It is more proven that if you keep cutting to save money that doesn't work, ask Greece how cutting programs to save money works. We have lot of infrastructure to build and replace. Sure it's not what many of us aren't use to or the pay isn't the same but work is work and food on the table is better then lining up at the welfare office. Just my opinion. But as the old saying goes some times you have to spend money to make money.

Greece is totally different, the citizens want to work 32hrs/week, they have had huge social and retirement benefits for years, and tax evasion is rampant over there. The cutting of programs has nothing to do with their present situation, they were flat broke before they cut programs, the EU forced them to cut spending or they wouldn't loan them any more money.

I don't disagree however that now is the time to build and repair infrastructure.

 

[rzrgade]

It's actually a proven solution. It is more proven that if you keep cutting to save money that doesn't work, ask Greece how cutting programs to save money works. We have lot of infrastructure to build and replace. Sure it's not what many of us aren't use to or the pay isn't the same but work is work and food on the table is better then lining up at the welfare office. Just my opinion. But as the old saying goes some times you have to spend money to make money.

If this works so well why have the NDP broke every province they have ever come into power in ???? Why did Ralph Klein owe 0 $ when he was done..... !!!
Spending money you don't have is foolish , letting the NDP spend it is beyond foolish....

 

[Ron H]

Unfortunately western Canada's options are slimming down to separation.....the way things are going...

 

[ABMax24]

If this works so well why have the NDP broke every province they have ever come into power in ???? Why did Ralph Klein owe 0 $ when he was done..... !!!
Spending money you don't have is foolish , letting the NDP spend it is beyond foolish....

The things we would do to have a Premier like King Ralph back...

 

[S.W.A.T.]

didnt skeena bulkley valley vote ndp in the federal election ? nuff said

You better look closely, the bulkley valley is a full NDP riding, federal and provincial. I'm not a ndp guy but the valley is a clear representation of those who work for a living and those who vote for a living. Actually last I heard Nathan Cullen is up for the leadership role of the federal ndp. Probably one of the only ndp ridings in the west.

 

[S.W.A.T.]

Any sources to back up your claim?


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The great depression, the 80's in Canada and the Greek economic crisis. Read a book from time to time or at the very least use Google. It's a proven fact cutting social programs and lowering taxes only works in the short term. Perhaps if Alberta would have had a pst of 3%, well below the national average a massive deficit wouldn't be in the near future. Your probably going to mention the provincial equality payments handed out to other provinces but the fact of the matter is oil and gas is a Canadian resource not just a Alberta resource. I might be just a dumb rig hand but I'm also a educated rig hand. People need to see past the end of the day before tomorrow runs them over.

 

[S.W.A.T.]

I'm by no means a economic wizard but it doesn't take much to figure out if your people have jobs they generate revenue. People are just going to have to get use to the fact what has been the norm is going to be for awhile, myself included.

 

[eclipse1966]

You are mistaken. Greeks are 2nd in the world for most hours worked in a year after S.Korea. As for the retirement / social benefits, that applied to public service workers and not the average factory worker where they paid their taxes and got benefits not much different than the average Canadian.

Greece is totally different, the citizens want to work 32hrs/week, they have had huge social and retirement benefits for years, and tax evasion is rampant over there. The cutting of programs has nothing to do with their present situation, they were flat broke before they cut programs, the EU forced them to cut spending or they wouldn't loan them any more money.

I don't disagree however that now is the time to build and repair infrastructure.

 

[S.W.A.T.]

Thank you for backing up my point. If a economy in a downward spiral shuts off funds to the people via social programs or development of projects it is essentially cutting off all flow of funds increasing the division of wealth from poverty. If the middle class doesn't have access to social programs or middle class jobs i.e. labor or equivalent the middle class disappears.

You are mistaken. Greeks are 2nd in the world for most hours worked in a year after S.Korea. As for the retirement / social benefits, that applied to public service workers and not the average factory worker where they paid their taxes and got benefits not much different than the average Canadian.

 

[ABMax24]

You are mistaken. Greeks are 2nd in the world for most hours worked in a year after S.Korea. As for the retirement / social benefits, that applied to public service workers and not the average factory worker where they paid their taxes and got benefits not much different than the average Canadian.

Actually Greece is 4th in the world for most hours worked per worker after Mexico, Costa Rica, and Korea, but when their unemployment rate is 25% it's a really skewed figure. It is also estimated that tax evasion is equivalent to 33% of Greece's GDP, and I can bet that some of these people are the "average factory worker". Greece also has one of the lowest average retirement ages in the EU. Greece is in the situation they are in because they can't control spending, and can't effectively collect taxes, and because of this the world has lost confidence in the entire Greek economy and refuses to invest, further hampering the situation.

So please tell me how spending billions more will help the Greek economy?

 

[eclipse1966]

well for one I am very familiar with the situation in Greece since my father is Greek and I lived there for a few years plus I was there last month. Anyway, last time I seen a report they were at #2 but #2 or #4 is a far cry from working 32 hrs per week. There are many many reasons Greece is in the situation it is and yes tax evasion is high but it is mostly amongst business owners who have the opportunities to work under the table. As for retirement age, again no different than Canada, most public workers retire earlier than private sector. Greece's problem was that they had WAY too many people working for the government than needed. Prior to 2008 all was well and when the US mortgage crash happened one of the countries they took down was Greece. As for spending billions, well imo they need to do something to spark employment and if the pursue strings are tied in a knot it is pretty hard to move ahead.

Actually Greece is 4th in the world for most hours worked per worker after Mexico, Costa Rica, and Korea, but when their unemployment rate is 25% it's a really skewed figure. It is also estimated that tax evasion is equivalent to 33% of Greece's GDP, and I can bet that some of these people are the "average factory worker". Greece also has one of the lowest average retirement ages in the EU. Greece is in the situation they are in because they can't control spending, and can't effectively collect taxes, and because of this the world has lost confidence in the entire Greek economy and refuses to invest, further hampering the situation.

So please tell me how spending billions more will help the Greek economy?

 

[tex78]

Unfortunately western Canada's options are slimming down to separation.....the way things are going...

U do mean fortunately right....

 

[ABMax24]

well for one I am very familiar with the situation in Greece since my father is Greek and I lived there for a few years plus I was there last month. Anyway, last time I seen a report they were at #2 but #2 or #4 is a far cry from working 32 hrs per week. There are many many reasons Greece is in the situation it is and yes tax evasion is high but it is mostly amongst business owners who have the opportunities to work under the table. As for retirement age, again no different than Canada, most public workers retire earlier than private sector. Greece's problem was that they had WAY too many people working for the government than needed. Prior to 2008 all was well and when the US mortgage crash happened one of the countries they took down was Greece. As for spending billions, well imo they need to do something to spark employment and if the pursue strings are tied in a knot it is pretty hard to move ahead.

Ok i think the figure is 42hrs/ week average in Greece, not that hours of work determine efficiency anyway. Greece's financial problems started prior to 2008 when the government began running larger and larger deficits, they just got caught in 2008. But regardless you touched on the point I was kind of trying to get at, and is probably most relevant to our situation in Alberta, too many people working for the Government, it's great that we are trying to employ Albertan's on infrastructure projects when the province is slow, but we just can't rely on the government to employ every unemployed Albertan. Yes we need new schools, hospitals, roads and bridges, but to borrow billions to do it? Is it really going to help stimulate the economy that much? The Alberta government is just a small drop in the bucket when it comes to total employment income in the province, especially with an economy being driven by oil and gas, Alberta will boom again, oil prices will go back up, and all of this will happen whether or not the Alberta Government chooses to spend billions of dollars.