Friday, February 15, 2013

Bitumen Bubble is a Bitumen

Redford and company are using the term 'bitumen bubble' to describe the eventual fiscal overruns we'll see that will amount into the billions. Forget about slowing spending, the blame for the budget shortfall is the market....Funny that the Conservatives, of all people, would be caught with a spending problem. That's certainly fodder for the Wildrose, whom have never governed, but have a plethora of ideas on how to fix this and that. At least there is a vocal opposition for a chance. As for the budget shortfall, ALberta is starting to feel the pinch like pretty much every other province. We may still have more jobs and temporarily stronger housing market, but the reality is, as with almost every Conservative politician, there's talk about savings but everyone operates in a short-term framework of what they need to do to survive the next election. The worst part about the whole thing is that within a mere couple of years the entire legacy of the province could be trashed, it's no longer debt free, and the savings initiatives for future generations is in the backseat---way in the back.

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