If you have been paying attention to the garbage fire of the NDPs fiscal management in Alberta, I’m sure you've heard about the five successive credit downgrades over the last two years.
Most recently, credit monitoring agency Standard and Poors downgraded the province’s credit at the end of May.
Now another bond rating agency, DBRS, is threatening to downgrade Alberta’s credit again and has changed Alberta’s long-term financial outlook from stable to negative explaining that,
“The negative trend reflects that Alberta continues to erode its low debt advantage through sustained deficit spending,” ... “Moreover, the province has yet to provide a credible plan to restore balance.”
All these credit downgrades. All these warnings. The NDP must be reversing course. Right?
According to social worker turned chronically inept Finance Minister Joe Ceci, the NDP are staying the course.
“We’re all concerned about the size of the deficit, we want it to go in one direction and that is down,” ...“The focus we’re having, the attention we’re putting on oil prices and other things is daily so this is not something that we’re focused on.”
Ceci admits he isn't focused on the deficit. He’s the finance minister! It’s his job to be focused on the province's finances and to try to keep them as healthy as possible. Can you think of anyone who is as bad at their job in such a catastrophic and sweeping way as Joe Ceci?
The NDP cannot predict the price of oil well enough to budget appropriately for this year, no matter how furiously they focus on it.
And yet they want us to believe they are able to predict the price of oil seven years from now when Ceci promises us he will balance the budget.
What’s the definition of insanity again?