Saturday, February 19, 2011

About debt and interest, public interest

If you sold your house and put the money in your chequing account would you say you had a surplus? This is what the Liberals have done by selling BC Rail and hundreds of millions of dollars worth of schools, clinics, offices, courthouses and other public assets.

If you asked a friend to borrow money for a business venture and contracted to pay them over 30 years, would you say you had no debt? This is what the Liberals have done with Public Private Partnerships (P3s).

If you contracted to buy firewood for 12 cents per log for 30 years when you could only sell it for five cents per log, would you say you'd made a wise business investment? This is what the Liberals have done with private "run-of-river" dams.

The Liberals admit the debt has gone from $30 billion to about $54 billion since 2001, but that is only half the story. We are indentured for another several billion for P3s and "run-of-river" dams - called the "deferred debt" by the auditor-general who insisted they report it.

The Liberals cut taxes during a boom when no stimulus was needed. They failed to set aside money for a rainy day. They sold off billions of dollars worth of public assets to create the illusion that they were balancing government finances.

It is time to get real. British Columbians deserve a government that can manage our money without selling our future; a government that puts the long-term public interest first.

Jessica Van der Veen
Victoria

Also see:  Alibi for ignorance: All I know is what I read in the newspapers
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3 comments:

  1. Bravo Jessica! Don't take your foot off the pedal.
    I pray that someone like you is running for office here in the Okanagan.

    ReplyDelete
  2. She's says in all so well -- with words and examples everyone can connect the dots to. And all in one page.

    I wish all BC's had a copy of this...

    ReplyDelete
  3. What a pleasant surprise, someone showing common sense! A breadth of fresh air and wisdom and much truth packed into so few words!
    Don

    ReplyDelete

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