Tuesday, February 03, 2009

BC Business leaders back Campbell Liberal deficits but hate much smaller NDP deficits or even surpluses!

Hi everyone - and welcome to the brand-new, back in deficit British Columbia - Gordon Campbell, Proprietor and previous record-holder of BC's largest deficit.

Is Campbell going for a largest deficit personal best on February 17? Could well be.


I don't argue for a minute against the need for BC to go into deficit - my complaint is that Campbell and the BC Liberals made balanced budgets into the political equivalent of the Rosetta Stone in a rigid ideological position that lacks historical perspective, economic understanding and just plain common sense.

By the way, Stephen Harper, come on down! You also win a prize!

The second thing that bugs the hell out of me is the endless parade of business leaders who are shameless in their political pimping for Campbell and the BC Liberals - business leaders who would be screaming blue bloody murder if a New Democrat government in exactly the same position did exactly what Campbell is doing.


From the Vancouver Board of Trade's debt clock and endless pontificating about the horrors of deficit financing we now have come to this.

"So what? It's a sensible response," Vancouver Board of Trade managing director Darcy Rezac said. "To suggest that the Government balance its budget at all costs in very unusual circumstances wouldn't be wise in our view. So I think the Government is doing a sensible thing."

Really Darcy?

Here's what Rezac said on November 22, 2000, when the NDP government was running a surplus - yes, my friends - a surplus of $1 billion:

"We note that the rapid rise in the provincial debt is worrisome. Debts incurred by funding general operating costs of government, which has happened during the '90s, ought to be avoided at all costs," Rezac said.

And what did Darcy say on September 23, 2002, when the BC Liberals ran the province's largest-ever deficit of $4 billion?

"We're impressed with the government's resolve to attain the goal of a balanced budget by 2004-05, and we support that...We congratulate the government of B.C. for moving quickly to take the measures they did with the 2002-03 budget," Rezac told reporters then.

Wow! So what indeed!

At least Gordon Campbell show some understanding that he has dramatically changed his tune.

"I know what I have said and I'm sure you've all got the clips," Campbell told reporters yesterday.

But for a lot of business leaders, the song remains the same - it's just who calls the tune that really matters!

.

11 comments:

Anonymous said...

Yes indeed and what mekes it so laughable is, even as of a few weeks ago Campbell and Hansen stated they would balance the budget.
Well,guess what,this isn`t 300 or 400 million dollar deficit,Campbell will be running a whopper 5 billion this year and 4 billion next year.

And guess where that money is going, 1.4 billion for olympic security costs and to Vanoc shortfalls-----1.3 billion to suppliment the shortfall on last years budget-----3/4 of a billion on P3 committments

So a few dribbles to be spent on election goodies.

Even their predictions don`t match their actions,Hansen is predicting a 3% uptick in the GDP next year but are still tabling a multi billion dollar deficit.

Not to mention the 800 million dollar loan(plus interest)we are taking out for the Macquarie group(the tolling group on the port Mann)
Yet the evergreen line isn`t schedualed to start construction until 2011(how come,no money?)

Gordon Campbell, the BIGGEST DEBTOR GOVERMENT IN BC HISTORY--_THE 3 LARGEST DEFICITS ON A YEARLY BASIS,GORDON CAMPBELL----LARGEST FUTURE DEBT IN BC HISTORY-ON CAMPBELLS WATCH.

No,the Liberals are nothing but a con!

Anonymous said...

Good article Bill.

As you know, The Board of Trade is an extension of the BC Liberal PR machine and routinely gets away with the most outrageous claims about current/past governments and the economy on the whole.

The business community in this province is rarely, if ever, challenged by our media. Listening to Bill Good lob softballs to these hacks makes my stomach turn.

Bill, if you have the opportunity please raise these contradictions (such as Rezac's) during your segment on CKNW.

Cheers.

Anonymous said...

There is so little to be said but the old motto still says it best . . . "WE ONLY CHEAT WHEN WE CAN'T WIN !"

I see a "former" Premier on the beach in Maui with a 40 oz bottle and a good Christian Lady

And . . . I see a "Premier" Christy Clark on the reviewing stand in Feb. 2010.

The GREAT SATAN

Anonymous said...

This is exactly what all conservatives are good at...steal from the public purse to enrich their business buddies. Even after this rape, the whorish right still support this behavior. Who is really nuts eh?

Anonymous said...

anon 7:32,

No good Christian lady would be caught dead with a false prophet...

maybe she's been drugged!?!

Anonymous said...

Ever since Darcy Rezac and the Board of Trade supported the RAV/Canada Line, one knew that they were nothing but Liberal shills and absolutely haven't a clue about business.

Subways are not considered until ridership exceeds about 15,000 persons per hour per direction! That's why everyone baled on RAV, leaving Campbell and the provincial government holding the bag. RAV ain't no P-3 but a piss poor ponzi scheme.

But there is more - because RAV's costs were spiraling out of control the scope of the project was reduced: cut-and-cover instead of bored tunnel; replacing SkyTrain with a generic metro; single track operation in Richmond and small subway stations that can only accommodate 3 car trains! Even then the project has ballooned to $2.5 billion and that doesn't include debt servicing!

But here is the kicker - as built, RAV/Canada line will offer fewer seats to transit customers than the previous buses it will replace a sure fire way to attract ridership - make you passengers stand! AND for a cost over over $1.5 billion more, we have a subway that can offer less capacity than if a LRT line were to have been built!

Cost to make RAV/Canada line capacity on par with LRT? $1 billion to $2 billion!

GORDO AND HIS PALS FORCED TRANSlINK TO BUILD A $2.5 BILLION METRO THAT HAS LESS CAPACITY THAN MODERN LRT AND DARCY REZAC THINKS THIS IS A GOOD BUSINESS DEAL?

Theses guys couldn't run a whorehouse at a profit - they couldn't even understand it's function!

The Truth is Nigh said...

No good Christian lady would be caught "supporting" Gordon Campbell?

Really?

Ask Mary Polak how she continues to get promoted over more qualified members of caucus...

Anonymous said...

"And . . . I see a "Premier" Christy Clark on the reviewing stand in Feb. 2010."

You really are the GREAT SATAN, aren't you?

North Van's Grumps said...

Why put off to tomorrow ..... when it can be done today - Gordon Campbell

We now know that there won't be a twinning of the Port Mann, probably it was a condition of the Consortium that they have the only checkpoint rather than a freebie highway right next door. Wouldn't make sense would it.

However, with a ten lane super duper Port Mann that will be ready by 2013 I have to ask why wait to toll the old bridge when it can be done for the next four years and start to pay back the borrowed monies... especially from our provincial treasury.

With 80,000 cars crossing the Fraser at $3 each way....$240,000 TIMES 365= $87,600,000 Million TIMES four years = $350,400,000

What are we waiting, oh, wait a minute that's the morning rush hour, then there's the afternoon rush hours.... Double your money!

Anonymous said...

I'm surprised more writers aren 't talking about the Death of Conservatism across North America.

From Obama in the US to Harper in Ottawa, and now our own premier, the neo-cons (including the US Democratic Party) have once again embraced the philosophies of Keynsian economics.

And the left is letting them steal the issue.
Hammer home the truth Bill.
Conservatism is dead.
Say it loudly.

Anonymous said...

Does anybody remember Bingogate?