Surpluses galore

I am coming off the fog of a fairly significant bout of the flu but I did have to rub my eyes a bit when I heard about the provincial government surplus. On the heals of the $14 billion federal government surplus, it seems the provincial government has a $236 million surplus.

Apparently running a surplus is ’embarrasing’ (according to Bruce Fitch). Times are changing, I guess. At one point, governments would have killed to have a surplus. Now they are embarrased by one.

I don’t know what to make of these surpluses. Newfoundland is running a large surplus because of oil revenues and out-migration is increasing. The Feds are running a large surplus. New Brunswick is running a surplus.

There’s an old saying about making hay while the sun shines. Yet our governments are spending less than ever on investments that will support economic development for our province into the 21st Century.