Will I obliterate the national debt? [long pause] Sure, why not?
– Pat Paulsen for President (1968)
Remember Christy Clark’s promises of a debt-free BC enabled through wealth created by natural gas production? The reality is revealed in Finance Ministry documents that provide this information.
Unfortunately, the fiscal year ended March 31, 2016 is even worse than indicated because government allows “infrastructure credits” that can be deducted from future royalty payments. It does not record the almost $2 billion liability because government can make its own accounting rules and it prefers good news to bad. Plus, this little trick creates a problem the next Premier can deal with.
Oh, shall we look at the debt-free promise made a few years back?
People as ancient as the writer will remember Pat Paulsen, a political satirist from Washington State who gained wide attention on the Smothers Brothers Comedy Hour in the late sixties.