Andy McKay

Apr 23, 2013

Christy Clark on Debt


My wife isn't that interested in politics so when she asked if I heard Rick Cluff's interview on CBC, I knew I had to listen as Christy Clark peddled her fiscal record. The podcast is here.

Christy Clark is using the credit ratings agencies to provide credibility to her platform. The credit ratings agencies. Moody's? The same company that:

2009 Moody's issued a report titled "Investor fears over Greek government liquidity misplaced"

Guardian

The same goes for groups such as Enron, Lehman Brothers and AIG. Days before they went bust, Moody's, S&P, and Fitch all still rated these failing companies as safe investments

Guardian

The same company that colluded with others to contribute to the recession are the ones the Liberals are tying their credibility too.

But then she lies about what they say (at 5.15 mark). When specifically pointed out that Christy Clark said that the credit rating of the province will be downgraded if the NDP win. That statement is not in the reports. The CBC read through it and it says:

"Should fiscal discipline be lost or the provinces debt service ratio increase on more than a temporary basis this could apply pressure to the provinces rating."

Christy Clark reading the report in the interview

So it doesn't say the NDP will cause a downgrade. It says that any increase in debt will apply pressure to credit rating. Well duh. But doesn't that apply to the Liberals? Sure it does.

In fact, Moody's gives B.C. a "negative" credit outlook, and blames the province's recent accumulation of debt under the B.C. Liberals.

CBC

There's spin, but this is just ridiculous.