You bet the Downgrade to AAA Negative from AAA Stable lands in the Lap of the BC Liberal government.
Moody’s issued the downgrade based on a weak economy and weak commodity prices.
In fact that should not catch anybody sleeping at their desk especially those in the political staff in the office of our inept government.
The Ministry of Finance issues a yearly publication entitled The Yearly Financial and Economic Review.
Had the folks in budget planning read at least until they got to page 6 they would have seen that natural gas was trading even lower in 2011 than it was in 2010.
We know from the last economic update a few weeks back that that figure is even worse now and took a lot of the blame for the increase in the deficit from our fearless Finance Minister Mike ( Don’t worry I will still balance the budget within two months) de Jong.
If you are familiar with the expression bullshit baffles brains; be prepared for the Liberals to do everything they can ( Including having Suhk Dhaliwal say he supports the BC Liberal Government‘s Economic record ) to henceforth pull out all the stops to,well, baffle your brain.
This all happened, by the way while the house was not in session ,because the BC Liberal retreaded Ministers had to spend that time getting familiar with their files?
Next thing you know, they will tell the house in the spring they need more time to get the budget in order when they put through legislation to change the fixed election date.
They wouldn’t do that would they?