August 24, 2017

Alberta's “rocking and rolling” recovery just “a Ponzi scheme”

Sheila Gunn ReidRebel Host | The Gunn Show

Alberta's finance minister tried to turn a pig’s ear into a silk purse yesterday in his first quarter fiscal update to the province's books.

Joe Ceci says Alberta's economy is in the middle of a recovery, “rocking and rolling,” and seeing job creation and a projected 3.7 per cent growth in the economy.

But that’s a fairytale. Let’s talk reality:

That much-touted 3.7 per cent growth won't even bring us out of last year's NDP hole. Last year Alberta’s economy contracted 3.8 per cent, and nearly that much again the year before.

Now about those jobs:

Yes, 48,500 were created in Alberta, ending June 2017. But of those jobs, nearly 42,000 were government jobs. That’s a whopping 86.5 per cent of all new jobs. Neat trick to skew the unemployment numbers.

And the deficit is larger than expected since the NDP budgeted for $55 per barrel of oil, while in reality it's been hovering below $48 for most of the year.

Then, buried in the fiscal update, are the debt servicing costs. It used to cost an enormous $1 billion to service Alberta’s ballooning $43.3 billion debt. Now, because of Joe Ceci’s fiscal mismanagement and several credit downgrades, it costs $1.4 billion.

That’s a lot of hospitals and schools.

The NDP are delusional. Any signs of life in the Alberta economy are in spite of the NDP and a testament to Albertan’s ingenuity and will to survive.

And what the NDP are calling a financial rebound is what normal people call a Ponzi scheme.

Comments
You must be logged in to comment. Click here to log in.
commented 2017-08-25 09:23:14 -0400
Mc Donalds part-time jobs oh but the illegal aliens will need those jobs. Or Wal-Mart Tim Hortons all the usual hideing spots.
commented 2017-08-25 00:03:07 -0400
The commie scum are growing government exponentially to create a Dip-dependent work force and voting block. Vote them out, fire their government paid voters then prosecute the planners of this attempt to usurp democratic will.
.
commented 2017-08-24 21:26:33 -0400
Just like Gontario just look at the hydro costs for schools hospitals government buildings health care not to mention heating in the winter . And if they really cared about carbon emissions there would be less children bused out of district .
Julie the Gontario Liberals are world champs for debt .
Next insult Trudeau’s carbon tax .
commented 2017-08-24 18:54:29 -0400
I’m hoping by now that the younger generations are seeing what happens when you elect commies. Many of their friends have lost good paying jobs, their homes, vehicles, and most of all their dignity. I’m hoping and praying that they don’t believe a thing the government, or the MSM say.
commented 2017-08-24 18:27:54 -0400
Notley and Ceci look absolutely thrilled; much like a grifter after a scam!
commented 2017-08-24 17:29:57 -0400
The NDP do not care about Albertans or AB at all, they only care about buying votes to win another election. If they had any integrity they would stop running our province into the ground ,stop their spending spree , encourage investment & get this province back to prosperity. Rachel Notley & her wretched NDP gov’t will go down in the history as the most hated , most destructive, and most damaging gov’t in AB history. Doubt there will ever be a Notley statue to take down.
commented 2017-08-24 16:33:19 -0400
Oh great 42,000 more lefty voters who suck rather than blow.
commented 2017-08-24 16:14:21 -0400
Rock and Roll!?
Here’s a song for ya…

The NDP loves Giuseppe Chickenpee*,
He’ll bust your piggybanks then demand a lot of thanks.
They’ll shut it all down, then dance all around,
And when you’re all broke, in unison they’ll croak…
Who me? - Giuseppe is Joe in Italian, Ceci is Italian for chickpea, so naturally – Giuseppe Chickenpee*
commented 2017-08-24 16:05:12 -0400
Thanks SHEILA
Public sector economies don’t go very far before they run out of gas
There’s no magic solar panel savior for a public sector economy