According to Finance Minister Tom Osborne, we are broke but will add another $2 billion to our debt this year. Something has to be done.
A good place to start is to identify our total debt (not net debt) and associated costs of servicing that debt.
Identify current day-to-day expenses.
Identify all current sources of revenues (not projected revenues on false promises of diversifying and growing the economy).
Then we need a government that is willing to combine this information and set forth a “no deficit budget” with a plan on reducing our total debt.
Then implement plans to diversify and grow the economy with absolutely no provincial government money involved.
Then and only then will we stop mortgaging our children's and grandchildren's future and get our finances under control.
Jerome Terry
Mount Pearl
