The provincial governments budget for the 2009-10 fiscal year is an optimistic piece of work that promotes a sense of optimism in bleak times.
The government chose properly to stimulate the economy and run a deficit rather than start cutting back on programs, staff and spending. It was the right prescription for the times.
Some may argue that the governments forecasted deficit for next year is much lower than it should be because it is based on unrealistic expectations that this global recession will improve sooner than David Dodge thinks it will. That is why it is called a forecast, its a predication with the best available information and is open to revision as circumstances improve or worsen.
We are caught in the grips of an international economic disaster the likes of which we have not seen since the Great Depression. We are lucky to have benefited greatly from the boom before the bust and as the Asian economy improves so will the demand for our exports.
Its a calculated risk that suits me fine!
I still feel uncomfortable that so much hinges on the price of one non-renewable resource. The inability of our political leadership, past and present, to diversify our economy continues to be the greatest tragedy of our times.