Liberals racked up huge debt

The Liberal total debt is now standing at well over $100 billion, an accumulation of $65 billion over the last 10 years.

Dear Editor:

A number of comments have been made recently about how bad the NDP fiscal policy was during their rule from 1991 to 2001.  These details are over a year and a half old, but they speak to the truth of the matter.

Let’s set the record straight using details from an article in the Georgia Strait (Gabriel Yiu), Sept. 25, 2011.

The NDP formed the government in 1991 and inherited a debt from the Socreds of $20 billion.

Ten years later, when the NDP was defeated by Gordon Campbell’s Liberals, B.C.’s deficit stood at $33.8 billion.

So, during the NDP’s 10-year reign of power they accumulated a debt of $13.8 billion.

Ten years later (2011) the Liberals had added an additional $19.6 billion. That’s 42 percent higher than the NDP’s “debt-mired tax-and-spend” 1990s.

Near the end of 2011, B.C.’s deficit was then at $53.4 billion.

As I’ve mentioned in a previous letter, the Liberals “hid” an additional $46.4 billion by engaging in public-private partnerships.

Our combined deficit and additional debt in September of 2011 was then an astounding $99.8 billion, according to the Georgia Strait.

This is more than seven times the accumulated debt of the NDP in the 1990s.

“The biggest deficits in B.C.’s history were recorded during the decade of the Liberals governance.” says Gabriel Yiu.

Without exaggeration, then, the Liberal total debt is now standing at well over $100 billion, an accumulation of $65 billion over the last 10 years.

Inflation might account for a part of that, but I believe that most of it went to Liberal’s corporate friends in the form of PPP’s.

Frank Martens

Summerland

 

Just Posted

OSNS #SmileWithOtis making the rounds in Penticton

The 38th annual Shaw Share a Smile Telethon in support of OSNS is Saturday

Funding to mitigate wildfire risk

South Okanagan’s regional district applies for $525,000

Rotary Club offers holiday trees

Proceeds from this fundraiser will support the Rotary Club in a variety of projects

Penticton treatment centre owner says she plans to raise the bar in care

Michelle Jansen has been an outspoken advocate for the development of rules

Railway to run trains on weekend

Tickets are selling quickly for Saturday rides on the Kettle Valley Steam Railway

Cancer scanner campaign halfway to its goal

Push on to acquire technology for Southern Interior cancer treatment centre in Kelowna.

Dead boy’s father posts Facebook response after Appeal Court upholds conviction

David, Collet Stephan were found guilty in their son Ezekiel’s 2012 death from bacterial meningitis

Bottleneck Drive names Dyer as coordinator

New coordinator has extensive background in wine marketing and writing

Trudeau mania, Scheer enthusiasm in B.C. this week

Prime minister, Conservative leader drop in on Surrey, White Rock

Forecasters promote avalanche safety awareness to kick off season

Avalanche Canada advising backcountry enthusiasts to get proper training and equipment.

B.C. church defaced with disturbing anti-Christian graffiti

Staff at Crossroads United Church reported the vandalism to police late last week

PayPal ordered to disclose business accounts to Canada Revenue Agency

Online payments company has 45 days to hand over information identifying its account holders

Federal government to boost treatment options for opioid drug users: minister

More than 2,800 people died last year as a result of the overdose crisis

Ambulance design changes urged after B.C. man falls out, dies

A coroner’s jury makes recommendations after hearing about death of Ebony Aaron Wood

Most Read