This is hard to take!

‘But B.C. has twice revised downward this year’s budget forecast, most recently projecting a $265-million surplus on a $47-billion fiscal plan. Even if the surplus grows unexpectedly — as it did last year when $184 million turned to $1.7 billion by the end of the year — Finance Minister Mike de Jong has said the money goes first to paying off B.C.’s debt.

Economic experts predict B.C. could book a larger-than-expected surplus this year, but not by much, said Jock Finlayson, executive vice-president of the B.C. Business Council.’

This is part of what Rob Shaw, reporter for the Vancouer Sun reported today.

He is duped  , or wants to dream like other so called experts.

BC has a surplus on current account . Not on the budget.

The budget is composed of the current account( every day expenses, operating account)  and the capital account( new roads, bridges, schools, hospitals , other building etc.). Add these two together as any right minded economist must do and you have a deficit. 

The Province is spending more dollars this year than the number of dollars it is taking in .

That is deficit.

 

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s