Saskatchewan hikes projected deficit as oil prices fall

[mentalfloss]

Funny.

Ontario's deficit is going down.

Huh.



Saskatchewan hikes projected deficit as oil prices fall

The plunging price of oil is pushing the Saskatchewan government’s budget further into the red.

Finance Minister Kevin Doherty says the government is now forecasting a deficit of $427 million for the current fiscal year — up $165 million from the mid-year forecast.

Doherty says apart from $100 million to cover forest fire costs, the government was able to control spending.

The big hit comes on the revenue side.

Revenue at third quarter was down $428 million from when the budget was tabled last March, largely because revenue from non-renewable resources is down $617 million.

This is the last look that Saskatchewan residents will get at the books before heading to the polls April 4.

Saskatchewan hikes projected deficit as oil prices fall - The Globe and Mail

 

[IdRatherBeSkiing]

Ontario's deficit is not going down. It is being hidden by sale of crown assets and huge tax increases.

 

[Ron in Regina]

Funny.

Ontario's deficit is going down.

Huh.



Saskatchewan hikes projected deficit as oil prices fall

The plunging price of oil is pushing the Saskatchewan government’s budget further into the red....

Yeah, oil is part of it, & it's not that funny. It's the butterfly
effect from dealing in a global market. There's a drought
in India. So what? So the demand for fertilizers goes down.
Where does that fertilizer come from in a global market?

PotashCorp to temporarily halt production at Allan and Lanigan mines | News Talk 980 CJME

There are many factors, but luckily here in Saskatchewan
as of late, we can more or less rule out gross mismanage
-ment by the provincial gov't in comparison to other
provincial jurisdictions.

Wall rules out carbon tax until economy rebounds | News Talk 980 CJME

Now is Ontario's deficit really going down in a "Good News!"
sort of way, or are they ditching their fixed assets in an
attempt to appear to show a one time decrease in provincial
debt, leaving them in a worse financial position?

 

[Murphy]

It's not so much that Kathleen Wynne and her government are incompetent. They continue to demonstrate this daily. Ontario voters must share an equal amount of blame. The citizens have to admit to their general doltishness. That made them vote for the past two governments. Time to correct their mistake. Own up, and kick her out.

I wonder, how much extra are we paying for the increased level of security the premier is using these days? Her general incompetence is a security problem too. Think of the poor souls tasked with protecting what amounts to a colossal waste of skin. I wonder how many of them go home at night and drink themselves to sleep?

 

[MHz]

This is great news, now all AB has to do is see what they do to get out of a slump and then we will do the same.. Might I suggest planting hemp rather than letting the black soil blow away this time around.

I wonder, how much extra are we paying for the increased level of security the premier is using these days? Her general incompetence is a security problem too. Think of the poor souls tasked with protecting what amounts to a colossal waste of skin. I wonder how many of them go home at night and drink themselves to sleep?

I'm going to assume that you sleep quite soundly most of the time..

 

[damngrumpy]

The difference is Saskatchewan some years ago began to diversify their
economic opportunities and the impact of a commodity doesn't mean the
whole province is in trouble. This came about because Saskatchewan
elects both NDP and Conservative and sometimes even a Liberal govt.
Alberta changers every forty years and there is no diversity in thinking either.
Alberta had all their eggs in one basket and they got caught with their pants
down but they are out blaming the wrong government

 

[petros]

Is this debt or deficit? Not when you have money in the bank it sure as sh-t isn't debt.

Still plenty of work for ON tradesmen and anyone else who would like a job in the field of their choosing.

 

[Locutus]

Ontario's deficit is going down.

Lol.

what an idiot.

 

[IdRatherBeSkiing]

The difference is Saskatchewan some years ago began to diversify their
economic opportunities and the impact of a commodity doesn't mean the
whole province is in trouble. This came about because Saskatchewan
elects both NDP and Conservative and sometimes even a Liberal govt.
Alberta changers every forty years and there is no diversity in thinking either.
Alberta had all their eggs in one basket and they got caught with their pants
down but they are out blaming the wrong government

I don't recall a Liberal Government in Saskatchewan for quite some time. Not since the 60s. With Pierre Elliot, I also think any chances of a future Liberal government in Saskatchewan kind of faded into the sunset.

Tommy Douglas was always of the mind that if you wanted to have your social programs you had to have your own house in order. If you were borrowing money to do it, you were not calling your own shots rather were at the mercy of the banks you were borrowing from. Most of the NDP governments in Saskatchewan have followed a similar philosophy. It's a shame that other left leaning governments such as the Federal Lieberals and the Ontario Lieberals have forgotten this little bit of fiscal advise. Ironically, Mulcair was peddling this federally but did a piss poor job of selling it.

The current Saskatchewan government is also fiscally conservative. I think they are pretty centerist on most other things.

As for Alberta, it has always been a one trick pony. As to blame, I think you have to look at it as how is the government softening the blow. Are they throwing punitive taxes and fees on the only resource that has been the only one that has ever made them any money or are they trying to stimulate the sector to ride out the storm? I think it is clear which camp the current Alberta government is on. Certainly one can blame prior governments for not diversifying but one can certainly blame the current government for making a bad situation worse.

 

[Johnnny]

Being in the millions compared to the billions is not bad given the situation these days.

 

[petros]

Being in the millions compared to the billions is not bad given the situation these days.

It's time to raise the royalties on U238 and U308

 

[mentalfloss]

Lol.

what an idiot.

The sourest of grapes, ye are.

Ontario’s budget deficit for 2016 shrinks more than expected to $5.7 billion

 

[petros]

But ON debt skyrockets, taxes go up, piss poor credit rating, pension schemes that can't find guarantors to insure deposits, moneymaking Crown assets GONE, healthcare cuts, corrupt unions,and exports stagnate even with a butchered cdn$ and cheap logistics.

What gives?

Alberta? Brad Wall?

Tommy Douglas was always of the mind that if you wanted to have your social programs you had to have your own house in order. If you were borrowing money to do it, you were not calling your own shots rather were at the mercy of the banks you were borrowing from. Most of the NDP governments in Saskatchewan have followed a similar philosophy. It's a shame that other left leaning governments such as the Federal Lieberals and the Ontario Lieberals have forgotten this little bit of fiscal advise. Ironically, Mulcair was peddling this federally but did a piss poor job of selling it.

The current Saskatchewan government is also fiscally conservative. I think they are pretty centerist on most other things.

Tommy Douglas "miracle" as you make it sound came from oil and the third largest Province in population. It set up Potash, steel, mega hydro projects, coal power to export.

Tommy was the best thing to happen to Alberta.

He got greedy and had the stupid f-cking idea of making oil a Crown. It instantly killed SK for 50 years.

Imperial, Shell, BA all dumped cement down thousands of rich oil and gas wells, and headed to Alberta.

Then Imperial ran a refinery the province did have interest in but ran it into the ground and at a loss for a decade.

As a kick in the nuts to the Blakeney NDP they shut it down right when the mid 70s oil crisis hit.

From that point on they did nothing to grow the Province and ran the Crowns into the ground not keeping them up.

During those NDP years SK people went off to build everywhere else in the West that was catching up.

It went from zero to a million people in under 20 years and stayed at a million for another 80 years. 20% more now in just 10 years and it's still growing and will forquite sometime.

It's the richest piece of real estate in the world.

 

[mentalfloss]

What gives is that the bickering from the right about catastrophic debt was shortsighted.

The province has persevered and is now outperforming the prairies.

 

[MHz]

Is the cheque in the mail?

 

[pgs]

The sourest of grapes, ye are.

Ontario’s budget deficit for 2016 shrinks more than expected to $5.7 billion

Just 5.7 Billion of debt in one year . I sure hope it is going down .

 

[mentalfloss]

Just 5.7 Billion of debt in one year . I sure hope it is going down .

It doesn't really matter to me as the fear mongering about debt is misplaced, but yes it is going down.

Unlike Saskatchewan.

 

[DaSleeper]

This is the Idea of liberal progs for shrinking the debt...
Instead of the planned debt of $6 billions....we will spend only $5.7 billions....and at the end of the year they call it $.3 billion surplus...and shrinking the debt.....

Unless a Conservative government does it...
Anyone fooled by those mathematics???


Yup.....leftoid ideologues....

 

[pgs]

It doesn't really matter to me as the fear mongering about debt is misplaced, but yes it is going down.

Unlike Saskatchewan.

Tell Greece about fear mongering . I am sure you will be happy when your pension funds disappear .

 

[mentalfloss]

Tell Greece about fear mongering . I am sure you will be happy when your pension funds disappear .

Tell Japan about Greece.

Then ask yourself why they are doing well despite their debt being triple the size of Greece's.