Friday, March 17, 2017

-Alberta Party Leader Greg Clark said before a way can be found out of the fiscal spiral, the government must first find the will. “To think that there’s not even one or two per cent of savings to be found in a $54-billion government (budget) is outrageous. Of course there is,” said Clark.---Wildrose finance critic Derek Fildebrandt said the NDP has no intention of ever balancing the budget. “The premier and her finance minister are neglecting even the most basic fiscal controls,” said Fildebrandt. “The mess that they are creating today will take decades to fix.”----------The budget forecasts a $10.3-billion deficit this year on revenue of $45 billion — slightly lower than the forecasted $10.8-billion shortfall in the fiscal year that concludes at the end of this month.----- Julie Ali · University of Alberta It is unfortunate that the GOA has not got the political will to prune the budget. It will be a problem for future generations. But at least once we have fired this crew in the next election, we can make substantive changes in the costs of public service sector employees especially the overpaid executive staff at the ABCs (agencies, boards and commissions). We should also not be subsidizing the oil and gas industry for the supposed make work projects of the orphan well program which they can jolly well pay for out of the billions of dollars in profits and assets that they have in their possession. We are tired of also having to subsidize other companies such as in the continuing care sector where ASLI grants pay for 50% of real estate investments in this area.What are we? The bank for the private sector? https://www.alberta.ca/release.cfm... Government will direct $180 million toward 31 projects in 18 communities. ASLI grants cover up to 50 per cent of the capital cost for the new spaces. Grant recipients are required to maintain the units at government-established rates for 30 years. The Alberta government has invested more than $600 million in supportive living since it began funding capital grant programs in 1999. Since then, Alberta has funded more than 8,000 new supportive living spaces. **** Why is government paying for the private sector business asset development? We are putting care into the hands of profit making companies while we are left without control of service provision and no sort of assets at the end of the business. Staff:resident ratios are not manated and government is not interested in oversight. The failures of the PCs continue with the NDP folks. Instead of Sky Palace planning --now we have pie in the sky planning without the savings in place to assure economic stability. Very sad. Like · Reply · Just now--


Ironic that the PCs of Sky Palace planning fame are lampooning the NDP folks of Pie in the Sky planning fame but this is politics for you:
“This is the largest inter-generational transfer of wealth, I believe, in Alberta’s history,” said Progressive Conservative Leader Ric McIver.
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Surprisingly the McIver is right.
We are partying today.
But tomorrow we weep.
Or at least our kids will weep.
We're leaving them with the bills for the party that is happening now.
The NDP crew have no sort of understanding for the need for cuts in the public sector arena and in the ABCs (agencies, boards and commissions). These cuts are long overdue.
We are tired of paying for the entitlement needs of a group of people who don't serve us well.
Time for all of this to change in Alberta.
And time for government to get out of the subsidy business with not only big oil but the continuing care industry. What are we? The public bank for corporations who make out like bandits while families are struggling and without jobs?
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http://globalnews.ca/news/3312717/alberta-ndp-tables-fingers-crossed-budget-projects-10-3-billion-deficit/


March 16, 2017 3:30 pm
Updated: March 16, 2017 7:13 pm

Alberta NDP tables fingers-crossed budget, projects $10.3-billion deficit


WATCH ABOVE: Alberta's finance minister says the budget has three themes: making life more affordable, creating jobs and protecting front-line services. Tom Vernon reports.
 A A 

Cash-strapped Alberta is banking on bad times getting better in a fingers-crossed budget that drips red ink but promises a hospital, new schools and more money for seniors and social services.
Critics pounced on it as a selfish and short-sighted blueprint that heralds a looming — and very ugly — day of financial reckoning.
“We are laying the foundation for a return to economic growth,” Finance Minister Joe Ceci said Thursday prior to tabling his 2017-18 fiscal plan.

“Are we out of the woods? No. We will continue to bring the deficit down, to balance thoughtfully and prudently, and we will do so without sacrificing the supports and services families need.”
There are no new taxes, tax increases or program cuts in the plan entitled Working to Make Life Better.
The budget forecasts a $10.3-billion deficit this year on revenue of $45 billion — slightly lower than the forecasted $10.8-billion shortfall in the fiscal year that concludes at the end of this month.
The budget projects a gradual reduction in the deficit to $9.7 billion in 2018-19 and $7.2 billion by 2020.
But the province is on track to rack up $45 billion in debt by the end of this year, a figure that will hit $71 billion by 2020. Debt servicing costs will be $1.4 billion this year and $2.3 billion by the end of the decade.
Watch below: Alberta Finance Minister Joe Ceci released his budget on Thursday and Global’s Tom Vernon got to speak with him about it shortly after.
Ceci said Alberta’s population is still growing despite an economic downturn caused by lower oil prices. Cutting services and deferring capital projects would hurt the economy in the short term and jeopardize prosperity in the long run, he said.
The budget sets aside $4.5 billion over the next four years for infrastructure, including $100 million in new money to help First Nations on reserves get reliable access to clean drinking water.
Health and education spending are on the rise. The budget promises a new hospital in Edmonton, as well as new and renovated senior care homes across the province.
The government has already announced it is cutting school fees for parents by $54 million and plans to build 10 new schools and upgrade or replace 16 more.
At universities and colleges, tuition fees are to be frozen for the third year in a row.
The province is investing heavily in tax credits and other financial incentives to diversify the economy and get off what it calls the “oil and gas roller-coaster.”
A new carbon tax, launched in January, is expected to bring in $5.4 billion over the next three years to be reinvested in green projects from energy efficient light bulbs for homeowners to new rapid transit lines.
The budget’s forecasts all hinge on oil prices hitting US$68 a barrel by 2020. The bellwether West Texas Intermediate price is currently just under US$49 — a long way from the US$93 a barrel averaged until 2014, when prices cratered before slowly beginning to rebound in 2016.
Ceci said Alberta’s economy is expected to lead the way in Canada with a growth rate of 2.6 per cent in 2017. Global economic growth is pegged at 3.5 per cent.
“Substantial risks remain,” warns the government’s budget analysis. “Weaker-than-forecast global growth would harm Alberta’s revenue forecast, as oil prices would remain lower for longer.”
Watch below: Scott Hennig from the Canadian Taxpayers Federation provides his insight on Alberta’s 2017 budget and shared what surprised him about it.
Opposition leaders have been calling for the NDP government to curb spending. They say crushing future debtloads will threaten the front-line services Ceci has promised to protect.
Ceci said steps are being taken. He noted the government has frozen and reduced salaries to save $121 million and has streamlined agencies, boards and commissions.
A new deal with doctors is also expected to save $500 million over two years.
Opposition leaders labelled the budget a disaster.
“This is the largest inter-generational transfer of wealth, I believe, in Alberta’s history,” said Progressive Conservative Leader Ric McIver.
“It’s selfish, because this government is spending all this money for today’s political gain for them, and children in elementary school today will have to pay it back long after everybody’s forgotten the words of the NDP.”
Wildrose finance critic Derek Fildebrandt said the NDP has no intention of ever balancing the budget.
“The premier and her finance minister are neglecting even the most basic fiscal controls,” said Fildebrandt.
“The mess that they are creating today will take decades to fix.”
Alberta Party Leader Greg Clark said before a way can be found out of the fiscal spiral, the government must first find the will.
“To think that there’s not even one or two per cent of savings to be found in a $54-billion government (budget) is outrageous. Of course there is,” said Clark.
“In a year or two, the debt level is going to be so high that the only choices any government will have will be either massive front-line cuts or massive tax increases, probably both.”



Alberta's budget deep in red, but government says growth is coming. $10.3 Bil deficit this year, but debt will grow quickly. 





Julie Ali ·
It is unfortunate that the GOA has not got the political will to prune the budget. It will be a problem for future generations. But at least once we have fired this crew in the next election, we can make substantive changes in the costs of public service sector employees especially the overpaid executive staff at the ABCs (agencies, boards and commissions).
We should also not be subsidizing the oil and gas industry for the supposed make work projects of the orphan well program which they can jolly well pay for out of the billions of dollars in profits and assets that they have in their possession. We are tired of also having to subsidize other companies such as in the continuing care sector where ASLI grants pay for 50% of real estate investments in this area.What are we? The bank for the private sector?
https://www.alberta.ca/release.cfm...
Government will direct $180 million toward 31 projects in 18 communities. ASLI grants cover up to 50 per cent of the capital cost for the new spaces. Grant recipients are required to maintain the units at government-established rates for 30 years.

The Alberta government has invested more than $600 million in supportive living since it began funding capital grant programs in 1999. Since then, Alberta has funded more than 8,000 new supportive living spaces.

****
Why is government paying for the private sector business asset development? We are putting care into the hands of profit making companies while we are left without control of service provision and no sort of assets at the end of the business. Staff:resident ratios are not manated and government is not interested in oversight.

The failures of the PCs continue with the NDP folks. Instead of Sky Palace planning --now we have pie in the sky planning without the savings in place to assure economic stability. Very sad.
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So I am reading about the 2014 UAH admission still.
It is boisterous with sunlight outside and the African violet that was on a plant stand fried like an egg cracked on a pan. I have had to put her in the corner to recover; in her place is s sturdy geranium that is not yet blooming. The extra heat and sun will push her over the indecisive spot to the cheering of the red and pink geraniums which are expressive right now. The Canada Day geranium cuttings are more healthy as well and may even be as good as their mother plant that went extinct when I forgot her outside last summer.
Older boy had a haircut at the barber and now is repairing the haircut he had paid for in the bathroom. He is not happy with the barber cut.
Younger boy has not gone to NAIT today.
I think he is skipping but I am not sure and he is 18 years now so I let him make the sort of mistakes I made at university when I would come home to watch soap operas instead of focusing on chemistry.
Now where was I? It is sooo hot in the writing room. I am working still on the UAH admission in 2014. It's so full of notes that I cannot read. Doctors and other professionals try to make all medical charting impossible for anyone to decipher. I have a magnifying glass and it is still very ancient script to read.
I will work on the medical notes all day and in between read about the 2017 budget that is getting us into more debt. It is curious to me that we have so much debt and so little deliverables for our tax dollars and debt.
But there you go. The sun is blasting a tune everywhere. The snow has to be shovelled still. There are taxes in the background to do. And I could nap right now.
Here is some of the budget debt news:http://globalnews.ca/…/alberta-ndp-tables-fingers-crossed-…/
March 16, 2017 3:30 pm Updated: March 16, 2017 7:13 pm
Alberta NDP tables fingers-crossed budget, projects $10.3-billion deficit
The budget forecasts a $10.3-billion deficit this year on revenue of $45 billion — slightly lower than the forecasted $10.8-billion shortfall in the fiscal year that concludes at the end of this month.
The budget projects a gradual reduction in the deficit to $9.7 billion in 2018-19 and $7.2 billion by 2020.
But the province is on track to rack up $45 billion in debt by the end of this year, a figure that will hit $71 billion by 2020. Debt servicing costs will be $1.4 billion this year and $2.3 billion by the end of the decade.
**
That is a lot of mullah. And for what? Not much in the continuing care system that is for sure.
Not much for ordinary citizens or those on AISH.
Not much for families.
And we are leaving a ton of problems for our kids. And grandkids with debt servicing costs that could pay for the problems in the continuing care system. Not good. $71 billion dollars while we party today. Cuts are needed and they are needed now. The Party should be over but the party goers are still at the scene. How much entitlement is there at the GOA? This much.

Cash-strapped Alberta is banking on bad times getting better in a fingers-crossed budget that drips red ink but promises a hospital, new schools and more money for seniors and social services.
GLOBALNEWS.CA

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