For those who keep asking, the Saskatchewan budget is indeed a deficit budget. Over the next two years the government will withdraw $578 million from the "fiscal stabilization fund." The funny thing about the fund is there is no fund. There is no actual bank account where this "rainy day" money is deposited. I've asked the Provincial Auditor, and he can't find it either. The stabilization fund is just government debt, like the rest of government debt. When you pretend to make a withdrawal from it, it shows up on the books as more debt.
Here's the rub: the same "withdrawal" which shows up on the books as increased debt, also shows up as revenue. Now, on page 7 of the budget estimates, the government talks about their accounting policies. They talk about how the government has adoped generally accepted accounting principles EXCEPT when it comes to "transfers" from the fiscal stabilization fund.
So, in order to make their bottom line look better than it really is, they suspend generally accepted accounting principles. They could spend $750 million more than they take in revenues, and still trot out a news release saying "the budget is balanced."
NEW PROVINCIAL BUDGET BUILDS A BETTER FUTURE
Tax cuts for business, more training opportunities for young people, a freezeon tuition fees and support for vulnerable citizens -- those are some of the highlights delivered by Finance Minister Andrew Thomson in Saskatchewan's 13th consecutive balanced budget.
The budget isn't balanced, yet they get away with this propaganda routinely. It's like the Iraqi propaganda minister "Comical Ali" claiming the Americans were being defeated while marines were pouring themselves coffee in downtown Baghdad.