19 August 2011

Slide a sheet of paper: the spend ‘em if ya got ‘em edition

Earlier this week, finance minister Tom Marshall announced a second increase in the estimate for offshore oil production for 2011 and with it an increase in provincial government revenues.

Marshall claims the money will go to paying down the public debt.

It won’t.

Every time Tom Marshall says he’s paid down the debt, his nose grows. Marshall has a case of pinocchiosis that defies medical science.

If his case of pinocchiosis politica swelled something other than his nose every time he bullshitted about paying down the debt,  Tom could do porno as if he was Johnny Wad and Ron Jeremy and Long Dong Silver combined.

The cash will either:

  1. go in the bank and be held in the form of short-term investments that will only appear to lower the debt; or
  2. cover the gigantic deficit Tommy  - or whoever is fin min - will face next year as a result of the Tories persistent unsound, unsustainable financial management.

Speaking of spending, that’s exactly what the local chapter of the New Democratic party wants to do with the windfall cash.

"This money, I think, needs to be seen as revenue that has come early, and we [should] keep it until we look at how we need to spend our money in 2012/2013," Michael told CBC News.

You will not be able to slide a sheet of paper between the political parties in this election.  They will all have the same policy, especially hen it comes to spending.

- srbp -