Does Mike De Jong Not Understand Debt?

Abbotsford MLA Mike de Jong seems to have been asleep while, as finance minister he oversaw one of the biggest increases in provincial debt and financial commitments BC taxpayers have ever seen.

Our friend Laila Yuile published a very good piece on the BC Liberals and their seeming lack of understanding of their own debt legacy.

De Jong won’t stop talking about his inflated version of the NDP’s campaign promises but he seems completely unaware of his own party’s awful record of handcuffing future generations with his debt.

After his spending spree in his own riding at the beginning of the campaign it is worth asking if he understands debt at all.

[Excerpt] By Laila Yuile.
Our friends retired economist Erik Andersen and Dr. Sandra Hoffman have one of the most important posts up today over at The Commonsense Canadian, and I strongly feel it should be read by every British Columbian.


The debt chart above, borrowed from their post, is about as graphic as it gets of a visual on what the Liberals real debt legacy is … and it isn’t pretty.

Here is an excerpt of their post:
It might be instructive to the citizens of BC to have a financial report card on their Provincial Government before casting their vote in the coming election.

Christy de Jong

Christy de Jong

A good starting point is the 2001 publication by Gordon Campbell and the BC Liberal Party titled “A Vision for Hope & Prosperity for the next Decade and beyond”. Ten “visions” were presented – numbers 9 and 10 are of particular interest:

9. The most open, accountable and democratic government in Canada.

10. Responsible, accountable management of your public resources and tax dollars.

Now go, read the rest, here.

And share this with everyone you know. In fact, I would suggest printing off this graphic chart on their site and share it as well, on bulletin boards, at work, with neighbours.


Laila YuileLaila Yuile writes about BC Politics at No Strings Attached

Join the discussion One Comment

  • DeceitinDrugs says:

    The B.C. Budget Plan indicates a debt increase of ^9 billion from $50 million, by 2015/16.

    $8 million will be borrowed for Infrastructure and a total of $20 billion will be borrowed over the next three years.

    The first LNG plant will not be built until at least 2015/16.

    The big question is when do the B.C. Liberals plan to initiate their
    debt reduction plan?

    They may be not even be in government in the next four years and
    there are many hurdles before LNG will be flowing freely from B.C.
    to overseas markets.

    They may be sowing the seed to economic prosperity, but, it sure will
    not be happening, anytime in near future.

    In addition, this week a report was just released pointing out that B.C. had one of the weakest economies in western canada.

    Who do voters beleive?

Leave a Reply