tincan
Well-Known Member
Agreed. It is money that the gov't has agreeded upon contactually to spend. For the most part it is money that the Liberals say we will be getting from.... LNG and... well, that's about it. Now, as long as the price of natural gas stays high we're fine right? ... OOPS. Way to diversify Libs. Talk about putting all your eggs in one basket.
I appreciate you posting your link though. It goes to show that their are many ways to 'massage' the debt numbers to make them look a certain way and I will freely admit that the graph I posted shows DEBT and OBILGATIONS. Some parts of those obligations will be paid down by future revenue streams but the % is looking smaller and smaller over the past few years and the fact is we are contracted to pay those massive obligations no matter what happens to commodity prices or anything else. It's a massive risk and a poor attempt by the Libs to mask the debt to make it seem more tolerable.
I think all governments would try to hide debt this same way unfortunately. It's too easy to change the accounting to confuse the public. That's why we have an auditor general... and we all know that if the Auditor general is doing his/her job too well they get canned. Sad state of affairs.
I appreciate you posting your link though. It goes to show that their are many ways to 'massage' the debt numbers to make them look a certain way and I will freely admit that the graph I posted shows DEBT and OBILGATIONS. Some parts of those obligations will be paid down by future revenue streams but the % is looking smaller and smaller over the past few years and the fact is we are contracted to pay those massive obligations no matter what happens to commodity prices or anything else. It's a massive risk and a poor attempt by the Libs to mask the debt to make it seem more tolerable.
I think all governments would try to hide debt this same way unfortunately. It's too easy to change the accounting to confuse the public. That's why we have an auditor general... and we all know that if the Auditor general is doing his/her job too well they get canned. Sad state of affairs.
High-five contractual obligations are not debt in the sense that money has been borrowed, spent and the government now has to pay that back with interest. It is money that the government has agreed to spend over set period of time on everything from capital projects, health care, education, transportation and on and on.