Friday, March 27, 2009

BUDGET THOUGHTS

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.

9 comments:

Anonymous said...

Peter,

Ed Hominen at Bum Papers, and his sidekick Wallace/Winston are loving this article.

You should be less optimistic, and be more gnarly like Ed and W/W.

Heaven forbid anyone could see anything positive from our provincial government. Oh that's right, da boys are not part of it.

Bill

Anonymous said...

Its amusing. Anyone who disagrees with their point of view is a shareholder in Alcan Tin Foil. I swear they are wearing Saran Wrap Hats at some of these other blogs. The shrinkage wrap is cutting off the oxygen to their brain and their theories are just as thin as the see through stuff.

Winston Smith said...

If you don't like my blog, don't read it. Simple solution.

And, yes, I'm not "part of it," thank God.

Hate to break it to you, but Orwellian News is a one-person, non-profit organization.

The last time I checked, I'm under no constitutional obligation to say anything positive about Dangovt.

And if my theories are so thin, then you don't need to worry about my blog and you don't need to read it.

Anonymous said...

Wallace/Winston,

You are usually less thin skinned. I find your blogs to be entertaining even if they are not very objective or relevant. Your newspeak edition is hilarious, but a twenty first century Ray Guy you're not.

Keep them rolling in the aisles,

Bill W.

Anonymous said...

It is important to be informed about all sides of an arguement. The other side's arguement maybe thin but it is always important to make oneself aware of differing points of view. I guess that is why people like Smith and Hollett regularly commentate on this blog. They rarely agree with Peter's viewpoint but still they read his blog.

So I may think that Orwellian News is wrapped in red tinted Saran wrap with an anti-Danny Hologram on it from head to toe but it is important to be informed on all sides of public issues whether one agrees or not with person who is saying it. Orwellian News maybe part of the Anti Danny Collective and he may be playing "Squealer" to Bond Papers "Napoleon" (lol) but I respect his opinion (as both blogs are well written and researched) but I reserve the right to disagree (especially when people go outside their are of expertise on policy and start talking economics or finance which they are ill equipped to discuss in much depth).

Winston Smith said...

Bill/Danny,

I forgot not to give a shit, but you're helping.

Anonymous,

It's all a massive corporate conspiracy to replace Alcan tin foil with Saran polyvinylidene chloride.

Anonymous said...

I guess Squealer's upset. I guess the Seven Commandments of Blogging are next (lol).

1. Whoever blogs/commentates positive things on Williams is an enemy.
2. Whoever criticizes Willams ad nausem is a friend.
3. No blogger shall wear blue clothes.
4. No blogger shall support the hosts of Nite line or Back Talk on any issue.
5. No blogger shall be positive on any aspect of prov government policy.
6. All bloggers shall label those who disagree as wearing tin foil hats.
7. All Liberal Federalist bloggers are equal (although some are more equal than others)

Winston Smith said...

Here's 7 back to you:
1) Why is it that DW gets all of the credit when something goes right -- even things completely beyond his control, like the price of oil -- but he gets none of the blame when something goes wrong?

2) If DW is as brilliant a manager and thinker as he is purported to be, why have several of his most important Departments -- especially Health and Education -- failed so miserably?

3) If DW is so smart and on top of everything, why do his defenders invariably insist that he could not have remembered critical events or have known about serious problems in provincial Departments?

4) If DW is such a brilliant negotiator and political leader, why have federal-provincial relations sunk to their lowest ebb ever?

5) If DW is such a brilliant negotiator and political leader, why is NL almost completely isolated among the provinces?

6) If DW is such a great deal-maker, why has he failed to sign a deal on Churchill Falls?

7) If DW is so good at the hard game of politics (delivering "elbows," as he likes to put it), why did he lose his showdown with Harper and get "shafted" and "sledgehammered"?

Anonymous said...

At least Smith is following the seven commandments. Hurray to consistency.