Wednesday, July 26, 2006

Sask: Deficit on the horizon?

The province's first quarter update shows revenues are forecast to be $73 million higher than expected. Great news, of course. Problem is, every extra penny is already spent, and then some. The province lists highway construction, CAIS, corrections and a downed plane as reasons for the increased spending. As a result, a razor-thin $62 million surplus is forecast.

Think about that for a second. This is a $7.81 billion budget, and they have a margin of error of $62.5 million.

Imagine running a deficit with revenues running higher than ever before. It helps reinforce our argument that double digit spending increases can't be sustained. If we squeak by this year, what happens next year?

7 comments:

leftdog said...

You also fail to mention that still the 3rd or 4th largest expense for taxpayers in this province is paying off the legacy of Grant Devine's NINE deficit budgets and billions he borrowed to pay out in Grip and other conservative nonsense. If I were you I would keep my eye on your good buddy ( and colleague) Jason Kenney and his Tory hordes who I predict will have us back in the RED very soon (with nonsense like 17 BILLION for defense (that should read 'war economy). Stay tuned !

Kelly J Gessner said...

C'mon,dog, you know Devine was just a victim of circumstance, that the NDP hid debt IN THE CROWNS, that conservatives can do no wrong, it is always someone else's fault. And big government spending on conservative special interests doesn't count. It only counts for groups and programs conservatives don't like. Like, get with the program, man.

Spakosky said...

Just answer the question!

David MacLean said...

There is no question here.

R.S. Porter said...

[I]t is always someone else's fault.

Yeah, and you are blaming Grant Devine.

leftdog said...

Grant Devine DID NOT BALANCE EVEN ONE BUDGET during his 9 years in government!!! He borrowed billions and NOW Brad Wall's bunch are trying to rewrite history and play down the deficit budgeting that nearly bust the province. The Provincial Auditor in 1992 did a special investigation of Devine's fiscal record with his Special Report to the Committee of Public Accounts. The Debt was Devine's NOT Blakeney's (!!!) (as Bad Wall is trying to convince us). Fear not - the truth on all of this will come out during the next election campaign. Wall has a BAD track record when it comes to career path.

Spakosky said...

Leftdog, are there more deficits on the horizon?

And was SK alone in running deficits iunt eh 80's?

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