David Raymond Amos Round 3: YO Cathy Rogers and Bill Morneau Do you LIEbrano Finance Ministers or CBC have any idea what a joke Dominion Bond Rating Services is to me?

The provincial economy is not trending well. Travis Shaw is one of the analysts who adjusted the province's outlook from stable to negative this week. He says they "question the credibility of the new financial plan."

http://www.cbc.ca/news/canada/new-brunswick/programs/informationmorningfredericton/dbrs-drops-rating-1.4555317?autoplay=true

---------- Original message ----------
From: Travis Shaw <tshaw@dbrs.com>
Date: Wed, 28 Feb 2018 12:03:57 +0000
Subject: Automatic reply: My My Now Cathy Rogers and Mr Shaw of
Dominion Bond Rating Services are yapping on CBC. Too Too Funny Indeed
To: David Amos <motomaniac333@gmail.com>

Hello,

I am currently out of the office, returning on Thursday, March 1. If
you required immediate assistance, please contact Stephanie Pinto:

Stephanie Pinto
spinto@dbrs.com
416-597-7359

All best,
-Travis

This email is intended only for the party to whom it is addressed, and
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If you have received this email in error, please notify me immediately
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www.dbrs.com, DBRS Limited

http://www.cbc.ca/news/canada/new-brunswick/nb-what-happens-default-debt-1.4555976

What happens if New Brunswick defaults on its debt?

Federal government has 3 options if the province is unable to pay interest on debt

By Jacques Poitras, CBC News Posted: Mar 01, 2018 4:00 AM AT

159 Comments
Commenting is now closed for this story.

Content disabled.

David Amos

I repeat the Clowns in DBRS are a joke to me and should be to any beancounter of the caliber of such as Don Drummond and Auditor-General Kim MacPherson.

In a nutshell they are nobodies who sucker politicians into taking them seriously. Methinks Maritimers with two clues between their ears would understand the DBRS disclaimer for what it is no matter what any politician, bureaucrat or professor may say N'esy Pas?

https://www.dbrs.com/disclaimer/

Content disabled.
David Amos
GO FIGURE CBC WHY BLOCKING ME DOES NOT SERVE THE TAXPAYERS WHO PAY YOUR FANCY WAGES

TRUST THAT THIS HAS ALREADY BEEN BLOGGED AND TWEETED ABOUT

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David Amos
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Otto Vanderberg

That's what happened to the only officially bilingual province. That's a lesson for Canada!

David Amos

@Otto Vanderberg Methinks the Ivring Clan don't speak much French N'esy Pas?

Nathan Henderson

why is there no english Immersion school for the north ? there is french school just down the street from me..yet they have like 20 buses that have like 2 students on each bus. why is that ..waste of tax payers money why

David Amos

@Nathan Henderson "yet they have like 20 buses that have like 2 students on each bus. why is that ..waste of tax payers money why"

Methinks its because the politicians have lots of buddies who like to sell, drive and service school buses N'esy Pas?

David Amos

@Nathan Henderson Speaking of fancy new buses with very few kids in them, Coroner Inquest or not I will never understand why our buses were not used to transport the school sports teams as well instead of worn out old vans.

http://www.cbc.ca/news/canada/new-brunswick/bathurst-basketball-van-crash-highway-eight-1.4483119

'Twelve people were in a passenger van, returning from a game in Moncton, about 220 kilometres to the south, when it fishtailed on a slippery highway and collided with a truck driving in the opposite lane, just after midnight."

michael levesque

if bankrupt would rodney weston still get his parasite pension check the one he did not qualify for THE GREAT BERNARD LORD SHAME.

David Amos

@michael levesque YUP

John Young

Tick, tick, tick, tick,...................BANKRUPT!

Matt Steele

@John Young .....That may be closer than we think . I believe when the City of Detroit went bankrupt in 2013 , they had 700,000 people , and about a 18 billion dollar debt . N.B. has 750,000 people , with a prov. debt of 14 billion which is increasing every day under Brian Gallants leadership . Maybe the Liberals in their quest for a french utopia will destroy the province ?

David Amos

@Matt Steele Its not rocket science to me. Just pay down our debt bigtime with the billions of dollars of pension money that John Sinclair and his team of the highest paid employees in NB are playing with on the stock market with (which took another tumble today when Trump whispered the "T" word again) Remeber Victor Boudreau's budget in 2009? Its the same money that he had to top up to the tune of 1.2 billion when the markets tumbled in 2008. Then years later Blaine Higgs conned the Union people to making a strange deal on their pensions that there still several lawsuits about that the liberals promised to fix before the last election. All we have to do is honour a deal and guarantee their pensions by paying them directly from general funds. Methinks the shortfall would be about a tenth of what we pay in interest on our debt right now.

More importantly we would be nearly out of debt to the Bankster buddies of dudes such as Franky Boy McKenna whom we also support (For job creation yea right)

http://www.cbc.ca/news/canada/new-brunswick/td-business-services-centre-moncton-jobs-1.4129427

"Company that reported $2.5-billion profit during first quarter to get up to $9M from provincial government"

CBC informs us today that the Banksters are making so much money this year they have to increase their dividend. They sure need our 9 million N'esy Pas?

http://www.cbc.ca/news/business/td-bank-quarterly-earnings-1.4557265

"TD hikes dividend on 15% profit rise, beating expectations"

Jeffrey Parker

With all the francophone groups here in NB, Quebec will just move in to save the day.The other 70% of us will fade into the past like our English culture. Sorry fore fathers we didn't know the fight was on.

David Amos

@Jeffrey Parker Methinks Les Quebecois are clever enough to take a wide berth of the punky old boat being commanded by the Irving Clan N'esy Pas?

Aaron Allison

If we go Bankrupt. Then it should be the end of the Liberal Party in New Brunswick.

David Amos

@Aaron Allison This is awful redundant to point out but everybody knows the Conservatives are every bit to blame for the debt as well. We elected all of them Hence we get the governments we deserve.

June Arnott

Time to be all Canada, not individual provinces with different rules. Time and time again it shows that so called provincial governments do not work. They just suck up money. We have over representation all over Canada. Time to run it like a business and follow a long term plan that doesn’t get changed every time someone new wins an election.
ENOUGH!!

David Amos

@June Arnott "Time to run it like a business and follow a long term plan"

FYI Canada is incorporated and we report to the Yankee SEC No kidding

donna gregoire

...cut off all the bloated transfer and equalization payments to these provinces that refuse to deal with reality...its like the other story CBC has run today about welfare cheques causing drunken like spending and subsequent caohos on the day they show up...

David Amos

@donna gregoire "CBC has run today about welfare cheques causing drunken like spending and subsequent caohos on the day they show up"

Do tell What does CBC say about us old folks on the day our CPP and a Old Age Cheques "Show up"?

Samuel Porter

Just ask ATCON6, or the execs at NBpower what to do . They have it all figured out, nobody else has a clue according to that bunch of brain surgeons.

David Amos

@Samuel Porter Perhaps you would enjoy reading a few of the transcripts of the NBEUB 357 Matter and one from the 375 Matter going on right now to see the war I am having with NB Power and its lawyers

Mac Isaac

I realize that some people have axes to grind with ANY government, some big corporations and some individuals BUT it would be incredibly nice and probably invaluable if, just for once, all those incredibly negative individuals...you KNOW who you are...can instead make useful suggestions that aren't political, sexist or xenophobic in nature that might actually help all of us. It seems to me that, especially in this part of Canada and the world that we have much for which we can be thankful, but also much that we need to do. Are we capable of doing anything besides chanting negativities? I think we are but maybe we're not. If ANYONE has anything useful to say that will help all of us, please speak up.

David Amos

@Mac Isaac "Are we capable of doing anything besides chanting negativities?"

These words are coming from the very same person who tried to have me arrested last week?

Go Figure

David Amos

@Mac Isaac Perhaps you and Minister Rogers and he bod Premier Gallant should read the Dominion Bond Rating Service disclaimer then have your cop friends call me.

Mark Murphy

It is about time somebody started this discussion ...

Content disabled.

David Amos

@Mark Murphy FYI I made the first comment in this forum and CBC blocked it immediately. So am back at closing time t try the water again In the "Mean" time I made a lot of comments over here on the very same topic and nobody gave a damn. Go Figure

http://www.cbc.ca/news/canada/new-brunswick/cathy-rogers-finance-dominion-bond-rating-services-1.4555127

"Concerns about province's fiscal choices don't surprise finance minister"

http://www.cbc.ca/news/canada/new-brunswick/cathy-rogers-finance-dominion-bond-rating-services-1.4555127

Concerns about province's fiscal choices don't surprise finance minister

Dominion Bond Rating Services changed the province's economic trend assessment from 'stable' to 'negative'

By Elizabeth Fraser, CBC News Posted: Feb 28, 2018 5:22 PM AT

52 Comments
Commenting is now closed for this story.

David Amos

Oh Wow do I ever love this Circus

David Amos

I bet that Travis Shaw, vice-president of public finance at Dominion Bond Rating Service head is still spinning after reading the emails I sent out yesterday before he spoke today

David Amos

"Despite her earlier boast about the Liberals having restored fiscal order to the province, Finance Minister Cathy Rogers says she wasn't surprised when a credit-rating service wasn't impressed."

I must ask what kind of oxymoronic statement is that? Oh and did I just invent a new word to describe the reasoning of a Liberal Finance Minister?

David Amos

"We're not seeing a very meaningful increase in the revenue trajectory. In our eyes, it's fairly limited capacity for the province to further raise taxes."

Methinks folks should never doubt a government's ability to raise taxes Property Taxes proved that fact in Spades last year N'esy Pas?

David Amos

"The agency found the New Brunswick economy is not performing well, and the future does not look more promising.'

WOW What a Revelation. Please do tell us something we don't know.

David Amos

"Earlier, Rogers said that the $73 million increase in the projected deficit represents spending on "new targeted investments," to be divided roughly evenly among what she called "a trio of challenges" — programs aimed at senior care, youth employment and helping businesses compete."

YEA RIGHT

David Amos

"When Rogers presented the budget, opposition parties attributed the increased deficit to the Liberals wanting to spread some money around before the election coming in the fall."

Methinks that the opposition partie should be very familiar with that tactic N'esy Pas?

David Amos

Methinks Dominion Bond Rating Services' major challenge is a rather weak yet very telling disclaimer published in only one official language that an aging population has time to read and or translate before the writ is dropped N'esy Pas?

David Amos

How should we rate the standing of the Dominion Bond Rating Services?

Stable? or Negative?

Survey Says?

Rod McLeod

I expect that duplicity easily runs into tens of millions of dollars a year. We'll never know the true cost since these are heavily guarded secrets (like $translation). We seem to have a shortage of doctors for many thousands of NBers but there's money for a small group of individuals for confirmation surgeries. In short, there is no lack of cash in NB; just a serious lack of common sense priorities.

David Amos

@Rod McLeod "I expect that duplicity easily runs into tens of millions of dollars a year."

Methinks would agree that the true cost can be measured by hundreds of millions of loonies N'esy Pas?

Freddy Rose

Minister Cathy Rogers has about as much fiscal sense as Mr. Rogers. Time to kick her out of the "neighbourhood".

Content disabled.

David Amos

@Freddy Rose Ahh but as Minister of Finance she is in everyone' neighbourhood and lots of them vote liberal no matter what particularly when she is handing out big bucks.

David Amos

@David Amos Very Strange that CBC would block that reply N'esy Pas?

James Johnstone

Time for a resignation. Not only from this person but from the whole Liberal crowd. This and the former Conservative government are just unbelievable, No wonder New Brunswick is last not only in Canada but in other parts of the world as well.

David Amos

@James Johnstone Ahh but look around you this province is a beautiful tourist paradise for poor folks and has lots to offer rich folks who want to create gated communities.

Methinks New Brunswick would be even more beautiful in 25 years or so so if we would just stop paying the Irvings et al to mow down our forests. N'esy Pas?

Paul Bourgoin

The province's money loosing fiscal choices are not Financial Choices but I believe are Handouts, Largess's, Paybacks, or even Orders from whoever Commands New Brunswick Legislators on what and when they must do and New Brunswick residents foot the cost!!

David Amos

@Paul Bourgoin Everybody knows that.

Colin Seeley

This Govt is all about Politics and Politicking than it is about creating a robust Plan for New Brunswick Competitiveness for the attractions of businesses.

Do the right thing Rogers. Go away.

David Amos

@Colin Seeley I repeat Everything is political and its always about the the money Trust that the hustlers who own the privately held Dominion Bond Rating Services know it. How else would they make such a fine living?

Colin Seeley

Read and weep.

http://www.debtclock.ca/provincial-debtclocks/new-brunswick/

David Amos

@Colin Seeley Watch this and laugh at the nonsense of it all

https://www.youtube.com/watch?v=9EXaWrrho4M

Greg Miller

PROSPERITY?

"...we don't believe you cut your way to prosperity.."--good grief I've been back now for 14 years where in the name of heaven is the prosperity? You politicians just don't get it people are leaving in droves how is making the Province more financially unstable going to bring about prosperity? DO YOU REALLY THINK THAT WE ARE STUPID ENOUGH TO BELIEVE YOUR RHETORIC?

Rosco holt

@Greg Miller
"where in the name of heaven is the prosperity?"
The prosperity is in the pocket of the chosen few.....

David Amos

@Freddy Rose "Check the banks in Bermuda."

Oh So True

Ray Bungay

Who is the real Finance Minister? Rogers or Rouselle? This really sounds like a scripted yarn. I wonder other the Gallant, if many in NB believes anything she says? I know I don't. If by some stretch her government wins in September we shall see what she has to say when the interest payments on our debt he boss has created, you know the real debt, not the fudged debt, cost the NB tax payers!

David Amos

@Ray Bungay If you are wondering who is pulling the strings look for the old school dudes behind the scenes who used to be in Franky Boy McKenna's government.

Brian Robertson

The irresponsibility of Gallant's government in managing public funds is only exceed by his counterpart in Ottawa.

Anyone wanting to form the next government, Provincially or Federally, only need to commit to a balanced budget with a debt repayment plan.

I guarntee their success.

Colin Seeley

@David Webb

Follow the money. Go North.

David Amos

@Colin Seeley Methinks it may be wise to head south to mow the lawns and water the gardens of rich folks just like so many other poor folks do. N'esy Pas?

Douglas James

Ms. Rogers all but declares that there is little or nothing that the Gallant government can do to solve New Brunswick's economic problems in the future. Never was there a better reason than to give the Conservatives another chance.

Rosco holt

@Douglas James
You're proposing going back to the conservatives and continue this insanity?
They are clearly not part of the solution but the problem.

David Amos

@Rosco holt And the solution is?

Survey Says???

Douglas James

Expanding an insulin pump program to all diabetics up to the age of 25 while leaving thousands of other insulin dependent diabetics to pay for their own supplies is hardly going to help lower healthcare costs, one of the biggest burdens on taxpayers. This government, like others before it, continue to think short-term, cherry-picking gifts for segments of the electorate in order to get re-elected instead of having comprehensive policies that serve all citizens equitably.

David Amos

@Douglas James Methinks what will increase healthcare costs is the secret deals with Medavie and Shannex N'esy Pas?

David Guitard

Putting politicians in charge of money is a recipe for disaster and anyone voting for a politician who promises more spending is aiding abetting to this stupidity.

David Amos

@David Guitard FYI I was the first to make a comment in the corresponding "News" article. Methinks I was blocked in a heartbeat so that it would not make Minister Rogers' and Premier Gallant's heads spin N'esy Pas?

http://www.cbc.ca/news/canada/new-brunswick/nb-what-happens-default-debt-1.4555976

Matt Steele

Sadly , neither Brian Gallant , nor his Finance Minister seem to have any understanding of budgets or debt ratios . No doubt internal Liberal polling is showing Gallant as being in a free fall , with no chance of winning this Sept. election . So Gallant has decided to spend the province into a financial black hole that will be very difficult to recover from . Gallant is like a child with his parents credit card....spend , spend , spend without having any idea of where the money is going to come from .

David Amos

@Matt Steele "No doubt internal Liberal polling is showing Gallant as being in a free fall"

I would not bet on that. The PCs are broke and even have to sell ther HQ. The liberals have lots of money in their war chest to promote their campaign once the writ is dropped. Meanwhile they are buying the election with our money just like the PC's have done in the past. No news there.

I truly hope that enough people get upset this time to vote for anyone they wish except one person. That person would be the incumbent no matter what coat they wear red blue or green. Methinks its because they are all in on the wicked game and loe riding the gravy train financed by our taxes. Why put any of them back in public office again? N'esy Pas?

Bob Smith

Listening to Cathy Rogers talk about the provinces finances is akin to listening to an individual who speaks for hours on end without interruption...and saying absolutely nothing of substance. Rogers might be least qualified individual to ever hold the finance portfolio...and she is going to make this province better, according to some. Fehhh..

David Amos

@Bob Smith "Listening to Cathy Rogers talk about the provinces finances is akin to listening to an individual who speaks for hours on end without interruption...and saying absolutely nothing of substance."

Methinks the same could be said of legions of politicians N'esy Pas?

Rosco holt

The province needs a way the make politicians & their party responsible for their costly deeds.

Currently only elections are the deterrent and it's very weak when politicians qualify for gold plated pensions quickly and may be re-elected 4- 5 years later + compensation for losing an election.

David Amos

@Rosco holt Want me to bring in the Clowns?

Rosco holt

@David Amos
I'm tired of their show. It's pretty stale.

David Amos

@Rosco holt You are not paying attention close enough because I am rolling on the floor laughing at Rogers et al.

Methinks the Clowns in the Legislature and the CBC got suckered by the Clowns in DBRS.

In a nutshell they are nobodies

https://www.dbrs.com/disclaimer/

---------- Original message ----------
From: "MinFinance / FinanceMin (FIN)" <fin.minfinance-financemin.fin@canada.ca>
Date: Wed, 28 Feb 2018 12:03:53 +0000
Subject: RE: My My Now Cathy Rogers and Mr Shaw of Dominion Bond
Rating Services are yapping on CBC. Too Too Funny Indeed
To: David Amos <motomaniac333@gmail.com>

The Department of Finance acknowledges receipt of your electronic
correspondence. Please be assured that we appreciate receiving your
comments.

Le ministère des Finances accuse réception de votre correspondance
électronique. Soyez assuré(e) que nous apprécions recevoir vos
commentaires.

---------- Original message ----------
From: Premier of Ontario | Première ministre de l’Ontario <Premier@ontario.ca>
Date: Wed, 28 Feb 2018 12:06:13 +0000
Subject: Automatic reply: My My Now Cathy Rogers and Mr Shaw of
Dominion Bond Rating Services are yapping on CBC. Too Too Funny Indeed
To: David Amos <motomaniac333@gmail.com>

Thanks for your email. I value your input and appreciate your taking
the time to get in touch with me.

Every email and letter I receive is carefully read and reviewed. Given
the volume of emails and letters I receive, and because I may need to
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Thanks again for contacting me.

Kathleen Wynne
Premier

Please note that we are not able to receive replies at this email
address, so please do not respond directly to this email.

* * *

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et je vous suis reconnaissante d’avoir pris le temps de m’écrire.

Toutes les lettres et tous les courriels que je reçois sont lus
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Veuillez ne pas répondre directement à ce courriel, car aucun courriel
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---------- Original message ----------
From: "Brown, Patrick" <patrick.brown@pc.ola.org>
Date: Wed, 28 Feb 2018 12:06:10 +0000
Subject: Automatic reply: My My Now Cathy Rogers and Mr Shaw of
Dominion Bond Rating Services are yapping on CBC. Too Too Funny Indeed
To: David Amos <motomaniac333@gmail.com>

Thank you very much for getting in touch. Due to the large volume of
mail that I receive, please allow time for a response. If it is a
pressing issue, please call my Queen’s Park office at 416-325-3855.
Otherwise, I will respond as soon as possible.

Regards,

Patrick Brown, MPP
Simcoe North
Leader of the Official Opposition

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---------- Original message ----------
From: David Amos <motomaniac333@gmail.com>
Date: Wed, 28 Feb 2018 07:46:27 -0400
Subject: Oh My My Now Cathy Rogers and Mr Shaw of Dominion Bond Rating Services
are yapping on CBC. Too Too Funny Indeed
To: tshaw@dbrs.com, "terry.seguin" <terry.seguin@cbc.ca>,
"Cathy.Rogers" <Cathy.Rogers@gnb.ca>, "Jacques.Poitras" <Jacques.Poitras@cbc.ca>, "Bill.Morneau" <Bill.Morneau@canada.ca>, "David.Coon" <David.Coon@gnb.ca>,
"Dominic.Cardy" <Dominic.Cardy@gnb.ca>, "brian.gallant" <brian.gallant@gnb.ca>,
"brian.t.macdonald" <brian.t.macdonald@gnb.ca>, "jake.stewart" <jake.stewart@gnb.ca>,
"jody.carr" <jody.carr@gnb.ca>, "hugh.flemming" <hugh.flemming@gnb.ca>,
"blaine.higgs" <blaine.higgs@gnb.ca>, "Dorothy.Shephard" <Dorothy.Shephard@gnb.ca>, "andrew.scheer" <andrew.scheer@parl.gc.ca>, bhepburn@thestar.ca,
"elizabeth.may" <elizabeth.may@parl.gc.ca>, "guy.caron" <guy.caron@parl.gc.ca>,
oldmaison <oldmaison@yahoo.com>, andre <andre@jafaust.com>,
jbosnitch <jbosnitch@gmail.com>, Premier@ontario.ca, patrick.brown@pc.ola.org,
vic.fedeli@pc.ola.org, vic.fedelico@pc.ola.org, doug <doug@fordnation.ca>,
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"Furey, John" <jfurey@nbpower.com>, wharrison <wharrison@nbpower.com>,
"rick.doucet" <rick.doucet@gnb.ca>, "serge.rousselle" <serge.rousselle@gnb.ca>,

Nathalie.Sturgeon@cbc.ca
Cc: David Amos <david.raymond.amos@gmail.com>, premier <premier@gnb.ca>,

"greg.byrne" <greg.byrne@gnb.ca>, "Jack.Keir" <Jack.Keir@gnb.ca>, pm <pm@pm.gc.ca>, "Gerald.Butts" <Gerald.Butts@pmo-cpm.gc.ca>, OIGCounsel@oig.treas.gov,
rlister@dbrs.com, gkwong@dbrs.com, jgu@dbrs.com

Travis Shaw Vice President
Public Finance.
416 597 7582
tshaw@dbrs.com

Deja Vu or What??"

http://www.cbc.ca/news/canada/new-brunswick/liberal-2018-budget-credit-concern-1.4515719?cmp=rss

Government credit rating a concern as Liberals release 2018 budget
Dominion Bond Rating Service concerned about the Liberal government's
budget credibility
By Nathalie Sturgeon, CBC News Posted: Feb 02, 2018 5:00 AM AT

http://davidraymondamos3.blogspot.ca/2018/02/yo-cathy-rogers-and-bill-morneau-do-you.html

Tuesday, 27 February 2018

YO Cathy Rogers and Bill Morneau Do you LIEbrano Finance Ministers or
CBC have any idea what a joke Dominion Bond Rating Services is to me?

http://www.cbc.ca/news/canada/new-brunswick/liberal-candidate-elections-announcement-cameo-1.4552598

Election season heats up as party candidates turn up at government announcements

Every 4 years, aspiring politicians running for the party in power show up at announcements and events

By Jacques Poitras, CBC News Posted: Feb 27, 2018 4:00 AM AT

68 Comments
Commenting is now closed for this story.

David Amos
Even though many political pundits know what a joke Dominion Bond Rating Services is to me, I must admit that they are correct in pointing out how ridiculous the Liberal's latest budget in "The Place To Be" truly is. The desperate politicians deliberately put the province deeper in debt in a very obvious attempt to try to buy the next election.

Methinks this news article proves the point in spades as even the wannabes line up for photo opts in the hope of getting on the gravy train too N'esy Pas?

Fred Brewer

Nothing to see here folks. Move along.

Content disabled.

David Amos

@Fred Brewer ZZZZZ Oppps Sorry I fell asleep waiting to see something new in the comment section for a change

Content disabled.

David Amos

@David Amos What a strange comment to block

David Amos

@Fred Brewer CBC does not like my replies to you for some strange reason

Fred Brewer

@David Amos
Sorry Mr. Amos. Nothing I can do about that, but I have to admit that CBC censorship is not being applied equally. I have tried to post things that are far less controversial than the post I am replying to and it gets rejected.

Content disabled.

David Amos

@Fred Brewer Tell me about it They killed my last ID and erased all the comments I made since the summer of 2016 when they compelled me to re-register with CBC in my true name DUHHH? I already was registered as me. When I complained about the malicious nonsense to the CBC hierarchy at Xmass Time they reinstated my original ID Go Figure

David Amos

@Fred Brewer They blocked my reply in a heartbeat

Shawn McShane

While the Liberals are out making cameo appearances at government events funded by taxpayers announcing more spending credit rating agency questions government's ability to control debt and New Brunswick could soon be hit with higher interest payments on its debt.

Agency says the province's real deficit in the current 2017-18 fiscal year is not the $115.2 million contained in provincial budget documents but $240 million. Add to that the smart meter $120 million+ spending plan against experts advice.

David Amos

@Shawn McShane Now now Please don't get me going on about the smart meter game again just as they are having their closing arguments about them today in Fat Fred City.

David Amos

@Shawn McShane "While the Liberals are out making cameo appearances at government events funded by taxpayers announcing more spending credit rating agency questions government's ability to control debt and New Brunswick could soon be hit with higher interest payments on its debt."

Do you have any idea what a joke Dominion Bond Rating Services is to me?

June Arnott

Want to win votes?? Be honest, stop spending money, oh and BE HONEST.
Don't make promises with money we DO NOT HAVE!

David Amos

@June Arnott It would be a wonderful world if that were true. However everybody knows most folks vote for the same parties they always do and most elections are decided by a few swing voters within certain ridings

Harold Fitzgerald

@David Amos

With that attitude NB is doomed.

Jason Inness

These guys are acting like Nero. Fiddling away while Rome burns.

These Liberals are spending money even while our province has received a downgrading of its credit rating. They just keep spending and spending and spending.

The worst part is that the money for all the promises comes from the average citizen taxpayer. They are borrowing money from your future tax payments in order to win an election today.

David Amos

@Jason Inness "These Liberals are spending money even while our province has received a downgrading of its credit rating. They just keep spending and spending and spending."

Trust that they quite simply don't care as long as they get reelected.

Colin Seeley

There is only one thing to do.

Leave N.B. now.

Your future is in danger.

Shawn McShane

@Colin Seeley The only thing to do is quit voting for the PCs and Liberals. The PC and Liberal governments have run deficits consecutively for 11 years now. Blaine Higgs already had a 4 year kick at the minister of finance can... Time for change.

David Amos

@Shawn McShane Lets take a guess as to whom you are gonna vote for?

Survey says?

Michael Hunt

Too Little Too Late I will vote for change in Sept.

Michael Hunt

@Jason pidgeon The red and Blue need to be put out to pasture to show them the people of NB are fed up with their crooked ways .

David Amos

@Michael Hunt I second that remark

Robert Buck

No problem going to events but no need to be in the photo op. That is using the event for party politics. Wonder if a Green Party or Peoples Alliance showed up if they could also be in the photo op. That would make it fair. But the is not going to happen.

David Amos

@Robert Buck Methinks everybody knows one thing is for certain. It is that I am Persona Non Grata in and on all the Legislative properties, Public Hearings and certainly photo ops with any Cabinet Minister or MLA or MP no matter the colour of the coat of their political party N'esy Pas?

Archie Levesque

Yeah sure and all the funding announcements aren't attempts to buy votes either.

David Amos

@Archie Levesque Methinks thou doth jest too much N'esy Pas?

Brad Little

This government is shameless.

David Amos

@Brad Little And Alward's and Lord's governments were not I suppose?

Harold Fitzgerald

@David Amos

Your point being? Does that somehow make the Gallant Liberals less of a fuster cluck?

David Amos

@Harold Fitzgerald DUHHH??? Perhaps that is the reason I always run as an Independent N'esy Pas?

Aaron Allison

We need a Royal Commission into this Government.

Rosco holt

@Aaron Allison
Only this government?

David Amos

@Rosco holt LOL

Emilen Forest

Now that you know what she looks like don't give her the time of day nor vote for her.

David Amos

@Emilen Forest I agree

James Johnstone

The Liberals and Conservatives are near finished the process of bankrupting New Brunswick. If a major change is not made next election with these two groups being run out of the legislature we can thank nobody but ourselves for the collapse of our beautiful province. If you think times are tough now, as they say, "ya tain't seen nothing yet".

David Amos

@James Johnstone YUP

Dennis Colter Pugh

2 words for you all.... People's Alliance Party,,, whoops sorry, 3 words.

David Amos

@Dennis Colter Pugh What about one word Independents?

Samuel Porter

This year I am voting anti-ATCON6, and anti-spaying in NB. Vote on the issues, not the parties.

David Amos

@Samuel Porter Pick me I am a vegetable who does not partake of fluoridated water so I still have a few clues between my ears.

Rosco holt

The circus has arrived in the province.

Oh! wait, they never left.

The PC will probably form the next government and the insanity will continue.

David Amos

@Rosco holt At the risk of being redundant I must ask do you recall how much I love the circus?

Rosco holt

@David Amos
Yes I do, just look at the bunch of clowns in the legislator.

Dan Lee

I like Bill Frazier

David Amos

@Dan Lee I don't so that should even things out

David Amos

@David Amos BTW what do you think of the Cabinet Minister Bill Fraser?

Roland Godin

Question to ask to candidates; why do we insist proudly, for generations, in electing the most likely to mismanage public policies, administration, resources and finances?...et voilà.

David Amos

@Roland Godin My answer has always been that its because the people who insists on voting along traditional party lines keep on getting us the governments we deserve because so many of the rest of us don't not even bother to vote. Methinks its because there is usually nobody worth voting for N'esy Pas?

Lou Bell

And the usual promises of getting things done, usually about a year or two after their mandate !

David Amos

@Lou Bell Just more of the same old same old N'esy Pas?

Lou Bell

The Cons platform when last elected was to eliminate patronage appointments , which they then proceeded to double after elected. The Liberals are making promises in the upcoming election, many of which will commence after the next term is finished . SMARTEN UP PEOPLE , BOTH ARE PATHETIC !! VOTE FOR BETTER OPTIONS !!

David Amos

@Lou Bell Which options would that be?

Lou Bell

So will it be the " RED Party of Broken Promises " or the " BLUE Party of Broken Promises " ?

David Amos

@Lou Bell Methinks all I see are professional political people wearing red ties and blue coats with orange pockets and green linings with several other fringe parties bothering them for a seat on the gravy train as well. N'esy Pas?

In a nutshell the professional politicians are all on the same team to an Independent candidate who has never voted in in his life.

Lou Bell

No matter whether it's the Cons or Libs, the fools supporting them will wear their tattoos to their meetings , looking for crumbs , like pigeons in a park.

David Amos

@Lou Bell YUP

Lou Bell

For the few weeks leading up to an election , you are a politicians best friend . After, it's " Who are you again? , and they'll have to get back to you later ". Many people are really fooled into thinking they really care for them .

David Amos

@Lou Bell "Who are you again?"

Those words were said of me during five elections thus far

Fred Brewer

@Lou Bell
You are so right. In the last election, the Liberal candidate came to my door begging for my vote. He seemed really interested in my concerns and asked me to email him additional information. I did so promptly. Do you think he even bothered to reply? Nope. Not one word. Not even a reply from his assistant. Now I ask you, how long would it have taken the MLA, or his assistant to type a two-word reply of "Thank you"? My guess is about 5 seconds but I guess I was not worth 5 seconds of his time.

That feigned interest cost him my vote and I will likely never vote Liberal again. I will vote Green. It is time for a change. No more Red or Blue or me forever.

David Amos

@Fred Brewer Trust that you would enjoy the emails have been getting from Mr Higgs' minions lately. Hell they even sent me a box of Tim Horton treats in the mail with a signed letter. No kidding Google my name and butter tarts.

BTW I fed the treats to a stray cat I named after Higgs

http://www.cbc.ca/news/canada/new-brunswick/nb-what-happens-default-debt-1.4555976

What happens if New Brunswick defaults on its debt?

Federal government has 3 options if the province is unable to pay interest on debt

By Jacques Poitras, CBC News Posted: Mar 01, 2018 4:00 AM AT

Don Drummond, a professor at the Queen’s University School of Policy Studies says it's likely if a province defaulted on its debt there would be federal bailout but it would probably come with strict conditions. (Canadian Press)

It's a hypothetical scenario that seemed ever-so-slightly less hypothetical this week: what would happen if the New Brunswick government defaulted on its debt?

A report by the Dominion Bond Rating Service said the agency was shifting its assessment of New Brunswick's economy from "stable" to "negative" — reflecting a worsening fiscal outlook for the province.

DBRS said it's all but certain it will downgrade the province's credit rating, which would lead banks to charge the province higher interest rates on the money it borrows. The province expects to spend $675 million on debt-interest charges in the coming year.

Concerns about province's fiscal choices don't surprise finance minister

That, in turn, would make a balanced budget, and a reduction of the total accumulated debt, even harder to achieve.

But what is likely to unfold if that downward spiral continues and the province finds itself unable to even make interest payments?

What would government do?

Don Drummond found himself among top civil servants grappling with that question in 1991, when he was an assistant deputy minister in the federal Department of Finance in Ottawa.

Saskatchewan's debt had jumped in a single year from 17 per cent of GDP to 28 per cent. Banks were threatening to stop lending the province money.

Drummond and other officials "did a lot of internal work at that time trying to figure out first of all what [our] obligations were, in terms of the constitution and in terms of the legality," he said in an interview.

They also discussed whether Ottawa would have "almost a moral obligation" to bail out a bankrupt province, given Saskatchewan's collapse might scare off investors from Canada as a whole.

"My own feeling was at the time that if there had been a default, the federal government would have stepped in and helped," said Drummond, now a professor at the Queen's University School of Policy Studies and the author of several studies on provincial finances.

Roy Romanow's newly elected NDP government was in touch with Ottawa about what might happen.
"There was, as I recall, some talk of a provision which would allow the federal government to move in and kind of act as a bankruptcy trustee," Romanow said.

Roy Romanow, a former premier of Saskatchewan, says his advice to Premier Brian Gallant is to devise a plan of tough measures and do it. (CBC)

"It would in effect put the government, the elected government of the province of Saskatchewan, under the effective decision-making control of another agency."

Romanow said he wasn't going to let that happen. He used the threat of resignation to force his reluctant caucus to accept tough measures, including a tax increase, spending cuts and the closure of 52 rural hospitals.

The budget was balanced in three years, and the key question — what would happen in a default — remained unanswered.

Three options

In 1940, banks refused to refinance the New Brunswick government bonds, according to a paper by historian R.A. Young. But a wartime economic boom lifted the economy enough to postpone tough decisions.

A decade later, with a new bond crisis looming, the Liberal government of John McNair imposed a four per cent sales tax to boost revenue, contributing to its election defeat in 1952.

Dominion Bond Rating Service shifted its assessment of New Brunswick’s economy from “stable” to “negative” on Monday. (Sarah Petz/CBC )

If a province did go bankrupt, Ottawa would have three options, Drummond said: direct financial assistance, a loan or a guarantee of the province's debt — an assurance to banks that would let the province continue borrowing.

He figures a federal government would have little choice. "If you have a province go down, it is a reputational investor risk for the whole country, so it's not just a local matter."

New Brunswick isn't near that cliff yet. The province's credit rating from DBRS is still "A-high," and some analysts believe Newfoundland and Labrador is closer to an eventual default.

Liberals choose election-year spending over deficit cutting as budget presented

But the release from DBRS said it will be hard to reverse New Brunswick's slow but steady economic deterioration, and that makes a credit downgrade likely after the next budget.

"We'd need to see a materially better outlook than what has been presented thus far, on both the fiscal and ultimately the economic outlook — which is not something that governments can readily change," Dominion vice-president Travis Shaw told CBC's Information Morning in Fredericton.

"That's not to say it can't happen. Our view is that it is not likely we will see a significant enough improvement to alter the course and ultimately cause us to not downgrade the rating in the coming year."

Eventual impact likely

Auditor-General Kim MacPherson said last year that the province's growing debt "may eventually impact" its ability to meet its financial obligations, including payments on the debt.

Drummond agreed with DBRS that New Brunswick's aging population presents a double challenge: there are more people who need more expensive health care and fewer working-age people to generate the economic growth to pay for it.

Credit rating agency questions province's ability to control debt

Finance Minister Cathy Rogers said this week the province is tackling that very issue, including with $20 million in new spending on senior care.

Finance Minister Cathy Rogers says new spending this year is needed to boost the economy. (Stephen MacGillivray/Canadian Press)

"Where [DBRS] identified our challenges is exactly where we are focused. So I don't know what else we could do," she said.

N.B. economic growth expected to be worst of 10 provinces in 2018

But the Liberal approach is to spend more money to fix the problem, which only adds to the debt and pushes back the target for a balanced budget to 2022.

New spending needed says Rogers

DBRS said that repeated pushing back of the target led it to question the credibility of the current government's fiscal plan. The PC government of David Alward originally promised to balance the budget in 2014-15.

Rogers said the new spending this year is needed to boost the economy. More money for education will produce a better workforce, she said.

But Drummond said many of those better-educated graduates are likely to leave the province for better jobs. Another problem DBRS flagged is a lack of major private-sector capital spending on the horizon, meaning slow economic growth and fewer job opportunities.

"Unless you can shake that, it's hard to see how this comes to a happy end," Drummond said.

New Brunswick's projected deficit drops to $115.2M

He said any federal bailout would probably come with strict conditions, including a strict deadline for the province to get the budget balanced quickly.

"You almost have an obligation to Canadian taxpayers to not do it, unless there's some kind of agreement and some kind of assurance," he said.

Federal-provincial jurisdiction concerns would also have to be put aside. "The normal 'keep your paws off provincial stuff' would kind of go out the window if you're giving them some sort of guarantee," he said.

And even that wouldn't be the end of the crisis, because while a balanced budget would stop the debt from getting bigger, it would take years and years of surpluses to actually reduce it.

"The problem doesn't go away" with a federal bailout, Drummond said. "That's just the first step."
Romanow said he doesn't envy the Gallant government's position "but if I were to offer any advice … I would say devise a clear plan, explain it to the public, why it is necessary and do it.

"That means making a decision you're ready to go down to defeat politically, but you do so with the knowledge you're doing the right thing for the people of New Brunswick."

http://www.cbc.ca/news/canada/new-brunswick/cathy-rogers-finance-dominion-bond-rating-services-1.4555127

Concerns about province's fiscal choices don't surprise finance minister

Dominion Bond Rating Services changed the province's economic trend assessment from 'stable' to 'negative'

By Elizabeth Fraser, CBC News Posted: Feb 28, 2018 5:22 PM AT

Cathy Rogers, New Brunswick's finance minister, said it's important to find efficiencies in spending and also ways to grow New Brunswick economy. (Stephen MacGillivray/Canadian Press)

Despite her earlier boast about the Liberals having restored fiscal order to the province, Finance Minister Cathy Rogers says she wasn't surprised when a credit-rating service wasn't impressed.

Rogers said Wednesday that the province knows there are significant challenges to address in New Brunswick's fiscal picture, but that comes at a price.

"We don't believe you can cut your way to prosperity, we just don't," Rogers said in an interview with Information Morning Fredericton.

The budget that Rogers presented in late January has the government spending about $237 million more this election year, increasing what had been a projected deficit of $117 million for 2018-19 by $73 million.

After reviewing the budget, the Dominion Bond Rating Service changed New Brunswick's economic trend assessment from "stable" to "negative," although it kept the credit rating of A (high).

'We need to grow our population, we need to help people engage in work directly and we need to help support our seniors.' - Cathy Rogers, finance minister

Travis Shaw, vice-president of public finance at Dominion Bond Rating Service, said the decision questions the credibility of the government's current fiscal plan.

The agency found the New Brunswick economy is not performing well, and the future does not look more promising.

"There is limited flexibility with which the province can manage its finances," Shaw said in an interview.

He said the credit rating agency has been concerned about New Brunswick for quite a while, particularly about its economic outlook, which he said is still weak.

"While we did see some out-performance last year … that is not expected to continue going forward," he said.

Information Morning - Fredericton

Provincial economic outlook and the budget.

00:00 15:38

Shaw said one of New Brunswick's major challenges is a weak demographic, with an aging population "weighing on the overall growth outlook."

Meanwhile, there are also limited prospects of business investment, he said.

"We're not seeing a very meaningful increase in the revenue trajectory. In our eyes, it's fairly limited capacity for the province to further raise taxes."

The overall debt burden is already relatively high for New Brunswick's current credit rating, he said.

Critics were skeptical

When Rogers presented the budget, opposition parties attributed the increased deficit to the Liberals wanting to spread some money around before the election coming in the fall.

But Rogers said the budget reflected "good decisions" by the government and the concerns of New Brunswickers.

On Wednesday, she said it's important to find efficiencies in spending as well as ways to build the New Brunswick economy down the road.

Information Morning - Fredericton

DBRS drops rating

00:00 09:41

"We agree that we have huge challenges," Rogers said. "But we are working very hard and strategically in addressing where there will be returns."

Earlier, Rogers said that the $73 million increase in the projected deficit represents spending on "new targeted investments," to be divided roughly evenly among what she called "a trio of challenges" — programs aimed at senior care, youth employment and helping businesses compete.

With files from Jacques Poitras, Information Morning Fredericton

http://www.cbc.ca/news/canada/new-brunswick/nb-rogers-happy-federal-budget-province-1.4554891

Minister Rogers pleased with federal budget items for province

Budget includes $75M for a healthy seniors project

By Gail Harding, CBC News Posted: Feb 28, 2018 8:00 AM AT

Finance Minister Cathy Rogers says she is happy with what she sees in her first look at the federal budget. (Stephen MacGillivray/Canadian Press)

After a first quick look at the federal budget, Finance Minister Cathy Rogers says she's happy with what she sees so far.

Federal Finance Minister Bill Morneau presented the 2018 federal budget, "Equality + Growth, A Strong Middle Class," the 367-page budget document in the House of Commons Tuesday.

Rogers said there were four key items in the budget that will help New Brunswickers.

"I was pleased to see New Brunswick has been given the $75 million for a healthy seniors project which I know our premier has been advocating for."

The finance minister said the province has the oldest population proportionately making it a perfect opportunity to look at many issues and challenges affecting them to find good practices that can be shared with other provinces.

"So we're happy to see this here (in the budget) because we want to have quality of life for our seniors and help them to stay at home with home care and community care as much as possible."

Finance Minister Bill Morneau hands over the federal budget to a clerk in the House of Commons in Ottawa on Tuesday, Feb.27, 2018. THE CANADIAN PRESS/Sean Kilpatrick (Sean Kilpatrick/Canadian Press)

Rogers said she was also happy to see specific investment for ACOA that is tailored to support women entrepreneurs.

The finance minister said the funding will help address some gender barriers and help women entrepreneurs who face more challenges in their own businesses than male entrepreneurs.

Help welcome

Rogers said she was pleased with a commitment to address some of the EI issues. Many seasonal workers in the province do not have enough benefits to assist them until seasonal industries start up again, leaving many in what is known as the "black hole."

Nowhere to turn: Seasonal workers living in 'black hole' of no EI benefits

In the short term, $10 million will be re-allocated from departmental resources to provide immediate income support and training to affected workers.

About 200 people gathered outside the Service Canada office in Richibucto in late February to protest employment insurance 'black holes.' (Radio-Canada / Nicolas Pelletier)

Another $230 million will be spent over the next two years through federal-provincial Labour Market Development Agreements.

The funds will be used to develop local solutions between the federal and provincial governments that can be tested to support workforce development.

"We're certainly happy that this was worthy of being part of the budget," Roger said.

The spruce budworm program will see an investment and partnership, something Rogers said is key for the forest industry.

"If we did not have a little federal help, I'd be worried about our forest loss and what our economic loss would be."

Rogers said the two governments do share common goals in economic growth and employment, closing the gender gap and more.

"In general, my first impression is I'm pleased," she said.

---------- Original message ----------
From: "MinFinance / FinanceMin (FIN)" <fin.minfinance-financemin.fin@canada.ca>
Date: Tue, 27 Feb 2018 17:16:02 +0000
Subject: RE: YO Cathy Rogers and Bill Morneau Do you LIEbrano Finance Ministers or CBC
have any idea what a joke Dominion Bond Rating Services is to me?
To: David Amos <motomaniac333@gmail.com>

The Department of Finance acknowledges receipt of your electronic
correspondence. Please be assured that we appreciate receiving your
comments.

Le ministère des Finances accuse réception de votre correspondance
électronique. Soyez assuré(e) que nous apprécions recevoir vos
commentaires.

---------- Original message ----------
From: "Gallant, Premier Brian (PO/CPM)" <Brian.Gallant@gnb.ca>
Date: Tue, 27 Feb 2018 17:16:01 +0000
Subject: RE: YO Cathy Rogers and Bill Morneau Do you LIEbrano Finance Ministers or CBC
have any idea what a joke Dominion Bond Rating Services is to me?
To: David Amos <motomaniac333@gmail.com>

Thank you for writing to the Premier of New Brunswick. Please be
assured that your email will be reviewed.

If this is a media request, please forward your email to
media-medias@gnb.camedia-medias@gnb.ca
>. Thank you!

******************************

*******

Nous vous remercions d’avoir communiqué avec le premier ministre du
Nouveau-Brunswick. Soyez assuré(e) que votre courriel sera examiné.

Si ceci est une demande médiatique, prière de la transmettre à
media-medias@gnb.camedia-medias@gnb.ca

>. Merci!

---------- Original message ----------
From: OIGCounsel <OIGCounsel@oig.treas.gov>
Date: Tue, 27 Feb 2018 17:16:12 +0000
Subject: Automatic reply: YO Cathy Rogers and Bill Morneau Do you LIEbrano Finance Ministers
or CBC have any idea what a joke Dominion Bond Rating Services is to me?
To: David Amos <motomaniac333@gmail.com>

Thank you for your email. If you have received an unsolicited call,
text, or email from an individual purporting to be from the Internal
Revenue Service or the Department of the Treasury, and/or making
threats of legal action or even promises of federal grant funds, it is
a fraud. Scammers have even attached fake "IRS" letters to e-mails to
make it look genuine--it isn't.

There are a number of similar scams, some of which can be quite
persuasive: in some, the scammers have done brief Internet research of
potential victims so they appear to be familiar with their victim's
personal details, and they use this information as a springboard to
obtain more. You may report scams regarding the IRS at the following
site:
www.tigta.gov. Other scams can be reported to the Federal Trade
Commission at spam@uce.gov, (or call 1-877-FTC-HELP) and internet
(email) frauds to the FBI's Internet Crime Complaint Center at
www.ic3.gov.

Please be aware that phone numbers and email addresses can be
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there has been an increase in reports of scammers using this method to
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continue to be extremely wary of unsolicited telephone or e-mail
communications, particularly those that request personal information,
contain any offer of some prize or "grant," or make monetary demands.

Complaints regarding fraud, waste, or abuse in the Department of the
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---------- Original message ----------
From: "Brown, Patrick" <patrick.brown@pc.ola.org>
Date: Tue, 27 Feb 2018 17:16:00 +0000
Subject: Automatic reply: YO Cathy Rogers and Bill Morneau Do you LIEbrano Finance Ministers
or CBC have any idea what a joke Dominion Bond Rating Services is to me?
To: David Amos <motomaniac333@gmail.com>

Thank you very much for getting in touch. Due to the large volume of
mail that I receive, please allow time for a response. If it is a
pressing issue, please call my Queen’s Park office at 416-325-3855.
Otherwise, I will respond as soon as possible.

Regards,

Patrick Brown, MPP
Simcoe North
Leader of the Official Opposition

---------- Original message ----------
From: Premier of Ontario | Première ministre de l’Ontario <Premier@ontario.ca>
Date: Tue, 27 Feb 2018 17:16:01 +0000
Subject: Automatic reply: YO Cathy Rogers and Bill Morneau Do you LIEbrano Finance Ministers
or CBC have any idea what a joke Dominion Bond Rating Services is to me?
To: David Amos <motomaniac333@gmail.com>

Thanks for your email. I value your input and appreciate your taking
the time to get in touch with me.

Every email and letter I receive is carefully read and reviewed. Given
the volume of emails and letters I receive, and because I may need to
share your message with one of my Cabinet ministers or the appropriate
government officials for more information, a response may take several
business days.

Thanks again for contacting me.

Kathleen Wynne
Premier

Please note that we are not able to receive replies at this email
address, so please do not respond directly to this email.

* * *

Je vous remercie de votre courriel. Votre avis est important pour moi
et je vous suis reconnaissante d’avoir pris le temps de m’écrire.

Toutes les lettres et tous les courriels que je reçois sont lus
attentivement, un par un. Sachez, cependant, qu’en raison du volume
important de correspondance que je reçois et parce qu’il se peut que
j’aie à consulter l’un de mes collègues du Conseil des ministres ou un
fonctionnaire compétent en la matière, il pourrait s’écouler plusieurs
jours avant que je puisse donner suite à votre courriel.

Meilleures salutations,

Kathleen Wynne
Première ministre de l’Ontario

Veuillez ne pas répondre directement à ce courriel, car aucun courriel
ne peut être reçu à cette adresse.

---------- Original message ----------
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Date: 27 Feb 2018 12:16:00 -0500
Subject: Message Notification
To:

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(SEC) Office of Inspector General (OIG). We have received your
submission and will evaluate the information provided and take
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---------- Original message ----------
From: David Amos <motomaniac333@gmail.com>
Date: Tue, 27 Feb 2018 13:15:56 -0400
Subject: YO Cathy Rogers and Bill Morneau Do you LIEbrano Finance Ministers or CBC
have any idea what a joke Dominion Bond Rating Services is to me?
To: rlister@dbrs.com, gkwong@dbrs.com, jgu@dbrs.com, djtjr
<djtjr@trumporg.com>, "Cathy.Rogers" <Cathy.Rogers@gnb.ca>,
"Bill.Morneau" <Bill.Morneau@canada.ca>, lmcquaig@sympatico.ca,
chris.simon@simcoe.com, newsroom@simcoe.com, fmatys@simcoe.com,
randy.hillierco@pc.ola.org, randy.hillier@pc.ola.org,
integrity.mail@oico.on.ca, info@oico.on.ca, ahorwath-qp@ndp.on.ca,
"Dominic.Cardy" <Dominic.Cardy@gnb.ca>, amara.mclaughlin@cbc.ca,
Premier@ontario.ca, patrick.brown@pc.ola.org, vic.fedeli@pc.ola.org,
vic.fedelico@pc.ola.org, doug <doug@fordnation.ca>, caroline
<caroline@carolinemulroney.ca>, newsroom <newsroom@globeandmail.ca>,
news <news@kingscorecord.com>, oig <oig@sec.gov>, oig <oig@ftc.gov>,
OIGCounsel <OIGCounsel@oig.treas.gov>, premier <premier@gnb.ca>,
"brian.gallant" <brian.gallant@gnb.ca>
Cc: David Amos <david.raymond.amos@gmail.com>, "Dorothy.Shephard"
<Dorothy.Shephard@gnb.ca>, "andrew.scheer" <andrew.scheer@parl.gc.ca>,
bhepburn@thestar.ca, "elizabeth.may" <elizabeth.may@parl.gc.ca>,
"guy.caron" <guy.caron@parl.gc.ca>,
"Jacques.Poitras" <Jacques.Poitras@cbc.ca>

https://www.dbrs.com/research/323621/dbrs-releases-december-canadian-short-term-debt-market-report

February 27, 2018

DBRS Limited (DBRS) released its monthly Canadian short-term debt
market report, which provides an overview of commercial paper issuance
in December 2017.

Note:
The full report providing additional analytical detail is available by
clicking on the link under Related Documents below or by contacting us
at info@dbrs.com.

Gary Kwong
Lead Data Analyst - Global Technology
416-597-7404
gkwong@dbrs.com

Jay Gu
Senior Financial Analyst - Energy
+1 416 597 7346
jgu@dbrs.com

Roger Lister
Managing Director, Chief Credit Officer - Global FIG and Sovereign Ratings
+1 212 806 3231
rlister@dbrs.com

http://www.cbc.ca/news/canada/new-brunswick/nb-bond-rating-agency-government-debt-1.4553080

Credit rating agency questions province's ability to control debt

Dominion Bond Rating Services changes New Brunswick’s economic trend assessment from “stable” to “negative”

By Jacques Poitras, CBC News Posted: Feb 26, 2018 9:06 PM AT

Dominion Bond Dominion Service says its earlier assessment of New Brunswick's economic trends as stable is now heading in a negative direction. (Daniel McHardie/CBC)

New Brunswick could soon be hit with higher interest payments on its debt after a major Canadian credit-rating agency said the province's economic trends are heading in a "negative" direction.
That's a change from the Dominion Bond Rating Service's earlier assessment of "stable."

The agency said in a press release that last month's budget, which raised spending, increased the deficit, and put off a balanced budget until 2022, calls into question the province's ability to control its debt.

"DBRS questions the credibility of the current fiscal plan, given the lack of flexibility to respond to unforeseen pressures or fund new programs that are likely to arise as a result of campaign commitments in the upcoming fall election," the agency said in a release.

"There is limited capacity to raise taxes or further constrain spending, meaning that any deterioration in the economic outlook or new spending commitments will result in higher debt."

That's a stinging rebuke to Finance Minister Cathy Rogers' assertion in her budget speech last month that the Liberals had "restored fiscal order" to New Brunswick.

The Jan. 30 budget projected an accumulated provincial debt of $14.4 billion by the end of April 2019.

Credit rating not lowered at this time

DBRS says postponing the balanced-budget target to 2022, a year later than what the Gallant Liberals were projecting, is a sign of "the weakening of fiscal resolve."

The agency is not actually lowering the province's credit rating yet, but it warns that it will lower it if there isn't "a significant improvement in the fiscal and economic outlook that is viewed as sustainable" by the time of its next review.

At the same time, it says to win back its "stable" trend rating, the province must show "meaningful improvement in the fiscal and debt outlook combined with an increased comfort that there is greater ability to absorb unforeseen shocks."

And the agency warns that's unlikely, given the province has already raised taxes and restrained spending — and, it says, has little room to do more.

"This is what we've all been afraid of," Progressive Conservative MLA Dorothy Shephard said on Twitter.

The agency says the province's real deficit in the current 2017-18 fiscal year is not the $115.2 million contained in provincial budget documents but $240 million.

Debt-servicing charges shrinking

That represents "negligible improvement" over 2016-17, the agency says, with the province's debt-to-gross-domestic-product ratio actually growing slightly.

Credit ratings affect the interest rate that the province must pay when it borrows money to sustain government spending. A lower rating can lead to lenders charging a higher rate, which in turn makes it harder to achieve a balanced budget.

The Canadian bond agency says the province’s real deficit in the current 2017-18 fiscal year is not $115.2 million contained in provincial budget documents released by Finance Minister Cathy Rogers but $240 million. (Stephen MacGillivray/Canadian Press)

New Brunswick's debt-servicing charges — the amount the province must spend on interest each year — has been shrinking as the Gallant Liberals have slowly lowered the deficit since taking office.
The amount is forecast to go from $683 million this year to $675 million next year.

Wrong direction

But this month's budget, which forecasts a higher deficit of $189 million next year, prompted Dominion Bond Rating to conclude the province's finances are heading in the wrong direction.

The release says the province's long-term financial challenges, including the possible withdrawal from NAFTA by the United States and an aging population that will be more expensive to care for, likely mean slow economic growth.

Some of the Jan. 30 budget's revenue projections are already in jeopardy. Rogers estimated $7.2 million from legalized cannabis taxes and retail sales, but that assumed government-run stores would open July 1.

Since then, the federal government has said a delay to let the Senate study the issue further will mean legalization won't happen until sometime in August.

http://www.cbc.ca/news/canada/new-brunswick/liberal-2018-budget-credit-concern-1.4515719?cmp=rss

Government credit rating a concern as Liberals release 2018 budget

Dominion Bond Rating Service concerned about the Liberal government's budget credibility

By Nathalie Sturgeon, CBC News Posted: Feb 02, 2018 5:00 AM AT

Green Party leader David Coon (left) and People's Alliance leader Kris Austin in studio at CBC New Brunswick. (Maria Jose Burgos/CBC )

Listen to the full CBC New Brunswick Political Panel podcast by downloading from the CBC Podcast page or subscribing to the podcast in iTunes.

A globally recognized credit rating agency has said it is concerned by the budget released by the Liberal government for 2018-19, which pushed the goal of a surplus to 2020-21.

The Dominion Bond Rating Service said the province's debt would have a negative impact.

"While DBRS has yet to conduct a full review, DBRS is concerned by the budget and questions the credibility of the multi-year plan to return to balance," a statement from the service said.

'Governments have to live within their means.' - David Coon, Green Party Leader

But Minister of Finance Cathy Rogers defends the decision to increase the deficit.

"We've got the best economic growth in the past ten years," she said in an interview with Information Morning Fredericton.

However, Progressive Conservative MLA Bruce Fitch said things are getting worse, not better, in terms of population and job growth.

"This is getting close to crisis mode," he said.

"We think this budget is a precursor to the Liberal platform — just change the cover on it."

Political Panel Feb. 1 Edition

00:00 56:27

Political Panel Feb. 1 Edition56:27

The Liberals will spend about $237 million more in the coming year, increasing what had been a projected deficit of $117 million for 2018-19 by $73 million, for a much larger shortfall of $189 million.

Green Party Leader David Coon said the debt has doubled in nearly 10 years and to see the government decide to drive the deficit back up after bringing it down is a problem.

"Governments have to live within their means," he said. "I'm a thrifty guy, let's focus on doing that."
Rogers said in her budget speech that the budget would "restore fiscal order."

But NDP leader Jennifer McKenzie said this budget does not address other factors that are key to care for aging New Brunswickers.

"My concerns are not with what they're doing but how they're doing it," said McKenzie.

And People's Alliance leader Kris Austin said the budget announcement is mind-blowing.

"[They] could care less about the debt or the future of the province and until they start taking it serious nothing is going to change," he said.

You can also listen to the entire CBC New Brunswick Political Panel by clicking on the audio link below.

Election season heats up as party candidates turn up at government announcements

Every 4 years, aspiring politicians running for the party in power show up at announcements and events

By Jacques Poitras, CBC News Posted: Feb 27, 2018 4:00 AM AT

Stephanie Tomilson, the Liberal candidate in Rothesay (far right), appears at an event with Transportation and Infrastructure Minister Bill Fraser (left) alongside Heinz Schaerer, board chair of KV Oasis (far left), and executive director Yennah Hurley (right). (Bill Fraser/Twitter)

Liberal election candidates are starting to make cameo appearances at government events funded by taxpayers.

It's a quadrennial ritual for aspiring politicians running for the party in power: Turn up as a minister or premier makes a supposedly non-partisan job-creation or infrastructure announcement, at which the candidate has no official role.

The most recent example was Caraquet Liberal candidate Isabelle Thériault, who was at a job-creation announcement by Premier Brian Gallant last week.

One-time vocal critic and union leader now running for Liberals

Minister says Saint John aid package not a pre-election ploy

Thériault didn't speak but was visible in a photo Gallant posted on Twitter. She appears to be joining the premier in greeting employees of Premier Tech Chronos, a manufacturing company that received a $250,000 provincial grant.

Andy Hardy, the Liberal candidate in Southwest Miramichi-Bay du Vin, attended a recent road construction announcement in Miramichi, though Hardy said he was there as president of the union representing government road maintenance workers.

There are rules in place to prevent governments using tax dollars to promote their political parties, but nothing prohibits a party's candidates from showing up at an official announcement.

Caraquet Liberal candidate Isabelle Thériault, far right, appears to be joining the premier in greeting employees of Premier Tech Chronos, a manufacturing company that received a $250,000 provincial grant. (Brian Gallant/Twitter)

Party spokesperson Marc Poirier said there is "no role whatsoever for unelected Liberal candidates at government events."

He said the events are open to the public, who can learn about them from advisories posted online.
"It is not uncommon for candidates of all parties (including opposition parties) to attend these events," Poirier said. "Like any other member of the public, they are welcome."

Stephanie Tomilson, the Liberal candidate in Rothesay, said she has attended recent government events in and around the riding, though she wouldn't say whether the party was involved in sending out invitations.

"There's announcements out, sometimes," she said. "When I'm made aware of them and I see them, I can try to go, and if I can't, I can't."

Touted Jobs Board not bearing fruit as leadership vacancies linger

Veterans take to microphone to express pension anxiety to federal minister

Tomilson, who ran for the Liberals in 2014, said she does "not necessarily" learn of government events through the party.

"No one co-ordinates me to go anywhere," she said. "If I hear of an announcement and I can go, I go. … I certainly like to support the team."

Tomilson was recently featured in a photo tweeted by Transportation and Infrastructure Minister Bill Fraser, who visited KV Oasis, a youth centre she helped launch two years ago.

The centre has been relying on short-term grants and is hoping to secure reliable government funding for its services, she said.

That's why she's been trying to schedule visits by several Liberal cabinet ministers.
"We've been asking anybody who will come and see the centre."

She said given the other ministers she hasn't managed to visit yet, her status as a nominated Liberal candidate isn't playing a role.

"I don't think so. If that would have been the case, wouldn't they have been here earlier?"
Poirier said there was no electoral intent to Fraser tweeting the photo with Tomilson at the youth centre.

"Ministers are often invited by stakeholders and members of the public to meet with New Brunswick citizens, businesses, and organizations and they often post about these visits on social media," he said.

Tomilson said Fraser visited because he's both the minister for the Regional Development Corporation, a possible source of funds, and the regional minister for what the government calls "central New Brunswick."

1 comment:

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Tuesday 27 February 2018

YO Cathy Rogers and Bill Morneau Do you LIEbrano Finance Ministers or CBC have any idea what a joke Dominion Bond Rating Services is to me?

Wednesday February 28, 2018

Audio DBRS drops rating

What happens if New Brunswick defaults on its debt?

Federal government has 3 options if the province is unable to pay interest on debt

Concerns about province's fiscal choices don't surprise finance minister

Dominion Bond Rating Services changed the province's economic trend assessment from 'stable' to 'negative'

Election season heats up as party candidates turn up at government announcements

Every 4 years, aspiring politicians running for the party in power show up at announcements and events

What happens if New Brunswick defaults on its debt?

Federal government has 3 options if the province is unable to pay interest on debt

What would government do?

Three options

Eventual impact likely

New spending needed says Rogers

Concerns about province's fiscal choices don't surprise finance minister

Dominion Bond Rating Services changed the province's economic trend assessment from 'stable' to 'negative'

Critics were skeptical

Minister Rogers pleased with federal budget items for province

Budget includes $75M for a healthy seniors project

Help welcome

Credit rating agency questions province's ability to control debt

Dominion Bond Rating Services changes New Brunswick’s economic trend assessment from “stable” to “negative”

Credit rating not lowered at this time

Debt-servicing charges shrinking

Wrong direction

Government credit rating a concern as Liberals release 2018 budget

Dominion Bond Rating Service concerned about the Liberal government's budget credibility

Election season heats up as party candidates turn up at government announcements

Every 4 years, aspiring politicians running for the party in power show up at announcements and events

1 comment: