- Overspending is the NL Way
- January 24, 2013 - 13:00
Overspending is our tradition. The AG says spending was up 66% since 2003 but it's always going up. The decsde before that saw spending increase almost 50% but that spending was financed through borrowing. Good luck telling any region or group that they're going to get cut back. Most of that spending increase occurred in health, education and social services. So guess where the cut backs are going to take place. Instead people are demanding more spending such as a new hospital in Corner Brook or keeping small schools open.
- January 24, 2013 - 14:52
The only job growth in the province is government jobs....the trick to 'kicking the can down the road' is to jump out to a cushy retirement just before you kick the can one time too many. Of course, what's left behind is nothing but a dented, beaten up, useless can left at the curb.
- January 24, 2013 - 12:51
It is fine to say that there was not a lot in the way of infrastructure spending in many years prior to the conservatives, however, when the oil revenues started to pour in we lost a tremendous opportunity to rid ourselves of our debt load altogether including future pension liabilities. It would have been tough seeing so much go to debt, but by now we possibly could have been debt free and no pension liabilities. We could have said to hell with a loan guarantee as we could have gotten a similar rate without the conditions Ottawa shackled us with. A golden opportunity lost as we spent like there was no tomorrow. We ignored industries with renewable resources allowing companies to send fish to other parts of the world for processing and doing nothing to promote a sustainable lumber industry. The conservatives bought their way to popularity and allowed themselves to be governed by the almighty Oil. Now look at what they stuck us with.
- January 24, 2013 - 11:47
historians will refer to the period from 2003 to 2013 as the Decade of Squandered Opportunity. It is not fair to blame dunderdale. This financil cliff was spawned many years before her time.
- January 24, 2013 - 12:54
You're giving too much credit to Newfoundland's place in the world....if virtually no one beyond here even noticed what we did to our cod fishery, I'm sure this won't be much of a blip either. This debacle is all purely for our own "enjoyment".
- January 24, 2013 - 10:48
I guess Newfoundland is not worth saving. If this situation happened in public sector business the person responsible would be FIRED. and the business would be brankrupt. Where are the salary and expense account cuts for the senior people in our govt.? Should the be staying in hotels, travelling and fine dining on our money? Why are we paying for people we can't afford?
- Cold Future
- January 24, 2013 - 10:27
The 2011, 2012 spending spree is related to buying our votes with our money for the election. Cuts are required to provide for the next spree in 2015. The reviews included are important. However; why are big ticket items not covered in the report such as: how did we get to be forecasting $125 per barrel oil?; how much was spent without house approval to keep Nalcor going?; who were let lucrative contracts for Muskrat and how were they picked?; why did government accept $150 million in lieu of local work for Hebron and why was the money all spent/committed when it was announced?- was the $150 million from Hebron partners or our own money?; did the huge cost increase at Hebron come as a surprise to the government; did the government know about the new aboriginal groups/agreements by the feds when the loan guarantee was being received from the feds? What are the implications for the NL taxpayer?
- January 24, 2013 - 09:20
Since 1949, the trick to getting elected here was to promise the moon, and then gently tell people that you had no money. Today, you have 1) provincial coffers gushing with money, 2) "professional" politicians with no financial or budgetary management skills whatsoever, and an immature teenager's urge to spend every thin dime, 3) an electorate that was weened on expensive promises and empty bribes, and 4) no ability to prioritize or focus...just a dollop here and a dollop there for everyone and everything. This won't end well for us...but it will be a cautionary tale to all Carribbean, African and emerging ex-Soviet countries in what not to do with good fortune.
- Too Funny
- January 24, 2013 - 09:05
It's funny. When the oil money started to come in, every corner of the province (including newspaper editors) demanded it's share of the money. Now people are complaining that we're spending too much. And they're right, but who is going to give up that money.
- January 24, 2013 - 08:58
So with combined liiabilities approaching 14 Billion, and no political will to address the situtation, government names a Deputy Minister whose job it is to find a generation of suckers to come and pay for all of this.