Our good friends over at Blog Borg Collective has a very important post up this morning that clearly show the amount of debt the province is carrying – without including crown corps etc. The chart above is from one he has embedded in his post today….. and all I can say is a big thank you to the BC Liberals for accumulating so much debt that they have to avoid having a fall session so they wont be held accountable.
What the hell did they think would happen when they reduced all corporate and personal taxes to some of the lowest points ever ? Without generating new revenue streams as replacements? Natural gas prices are down, China is heading into some rough economic times and our government is putting everything they have into exports to China and Asia……Well, good luck with that and good luck to the incoming government after our election next year, trying to wade out of this one. Don’t expect miracles. Now go, read the post and weep.
When you are done that, come on back and read this post explaining how this all came to be. The best explanation of how the BC Liberals created their own crisis to introduce P3′s to the province. Looking back at the last 10 years, I think it’s bang on.