December 19, 2015

“Paid in Full” a distant memory as Alberta gets second credit downgrade since NDP attack budget tabled

Sheila Gunn ReidRebel Host | The Gunn Show

Alberta's credit has been downgraded.

This is no surprise. We were warned right after the NDP's catastrophic "borrow and spend" first budget came out. The bond rating agency, Moody's, immediately declared Alberta credit negative.

At the time, Rachel Notley said she didn't believe that the province's credit would be downgraded. She told the Globe and Mail:

"At the end of the day, I can't control what the different bond rating agencies will do or say but what I will say is that the fundamentals are very, very strong"

When she said that, was she trying to fool herself or us?

And now, only 2 months later, Alberta's credit is downgraded from AAA to AA. Standard and Poor’s, the credit rating agency, cited Alberta's weak revenue forecasts combined with a growing debt burden.

Finance Minister Joe Ceci blamed the cost of oil, which is only partly true. Sure, that dropped the revenue in the government coffers. But what about the uncontrolled spending?

Did the cost of oil make the NDP spend so far out of control to the point where the government will now have to borrow for everyday operations? Joe Ceci said, "The downgrade is a result of the over reliance on non-renewable resource revenues in our budget and that's why we're taking steps to diversify the economy."

What steps are those, Mr. Ceci? Attacking the agriculture sector through Bill 6? Putting rural towns like Hanna in the poor house by phasing out coal? Or chasing away any prospective business with the promise of a carbon tax?

Joe Ceci needs to know the only way to find our way out of this mess is to get those non-renewable resources he hates so much to foreign markets. But as long as the NDP and their gang of anti pipeline activists are in charge that isn't going to happen.

How far we've come from July 12 2004 when Ralph Klein held up the sign that said "paid in full."

Every premier since him has squandered that day.

 

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Comments
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commented 2015-12-19 17:29:28 -0500
Could you imagine getting turned down for a loan due to a poor credit rating and saying “oh well, I cannot control what the credit rating agencies says”…… ??? How naive, how foolish….
commented 2015-12-19 17:11:53 -0500
Fucking socialist’s and liberals live in a fantasyland with their heads stuck in the sand thinking everything is sunshine rainbows and lollypops. No reality as to what the world is today. Notley, Ceci, and the the rest of their shit eaters living in denial as to what is happening!
commented 2015-12-19 16:52:24 -0500
I welcome this downgrade. And further downgrades will follow – wreck the economy, throws thousands out of work, destroy everything. Let Notley’s legacy be one of poverty and ruin; all the more reason to drive her and her horde from office. Once there are thousands starving in the streets, and the Legislature Buildings are alight, will people realize the extent of the NDP’s insanity.

Burn everything down and rebuild – better, stronger, and liberal-free.
commented 2015-12-19 16:44:07 -0500
I am beginning to wonder if Alberta ever again will be able to say PAID IN FULL. Not while this group of thieves is in power.
commented 2015-12-19 16:25:14 -0500
This pen of union pigs will never be able to say PAID IN FULL.
commented 2015-12-19 16:17:51 -0500
the reality of left wing “education” is that it isnt based in reality. simple arithmetic requires a calculator…and a calculator still requires some form of intelligence to be used correctly..