Re: Wages need to match inflation (Our View, Sept. 19)
While this endorsement is an admirable idea in light of tough economic times for all citizens, one really needs to consider what is developing globally.
In Europe economies are falling like dominoes, the U.S. our largest trading partner is still mired in a deep recession and China is catching its breath. However, B.C. and Canada are not isolated from this contagion.
World banks and bond companies are beginning to take a long hard look at all levels of government borrowing and here in B.C., our debt will reach $56.7 billion by March 2013.
The interest on this debt will be $2.55 billion. This represents six per cent of the province’s expenditures and will limit the amount used to help pay for health and education.
The B.C. government is required by law to balance its budget each year. So what do our municipal leaders debate at their annual meeting? Legalizing a banned substance?
As Warren Buffet once said “you only find out who is naked when the tide goes out.”
The public in B.C. can not afford any more burden on the provincial or municipal debt load. A line has to be drawn in the sand and efforts need to be undertaken to arrest this situation before it is taken out of our hands by world events.
Appoint a provincial and municipal ombudsman whose role is to expose these excesses and make our leaders and elected politicians accountable.