Thread by @yomeeks

This is your daily pension announcement, the Alberta Fiscal Update edition! As you probably well know, Travis provided the Fiscal update available below. TL:dr is okay, I will bring you the naughty bits. #ABLeg
open.alberta.ca/publications/6…

First, from the update Travis opines:

"Government obligations for pension plan liabilities are $415 million lower, mainly from improved valuations for the two Teachers’ Pension Plans. Other liabilities have decreased $567 million."

#ABLeg

That's right, great investment returns from ATRF have made Travis $415 million. That should give any Minister of Finance pause. Like don't move the management over to AIMCO kind of pause. Travis is in a financial bind and is turning his nose up at future cash. #ABLeg #idiot

Other highlights from the update...

"While the public sector plays a key role in delivering public services, it does not create jobs or generate wealth."

This is horseshit. Also, your political philosophy does not belong in a fiscal update. #ABLeg

In general, an educated and healthy population does create wealth and prosperity. And, government regulation is not the enemy (someone tell Hunter).

Just look at the financial crisis where the US banking system was within a hair's breadth of total collapse. #ABLeg

Not so in Canada. The far better regulated system here prevented the ruin of millions of people and businesses. Having sectors suddenly go belly up is what destroys wealth and jobs. But I digress.

I am shocked that memories are so short. #ABLeg

Travis continues:

"Rather, public sector activities and spending are paid by withdrawing money from the economy, through taxes, or by taking money from future taxpayers by borrowing for deficit financing. "

Only if they withdraw the money and burn it. #ABLeg

This is, of course, a shout out to the mouthpiece of the ultra-wealthy the Fraser Institute without naming them directly.

Travis fails to explain how this squares with owning ATB a money making business that competes with the private sector. #ABLeg Somebody needs to read a text.

Finally, Travis says:

"In the last fiscal year, the Alberta government focused on cutting red tape in areas where job creators and innovators indicated there would be the greatest impact." #ABLeg Ah, the job creators that will save us all.

This passage is important because I believe that it represents coded language to remind us that the people who are doing the best during the pandemic....all work in the private sector. People whose salary and dividend income is >$1,000,000 per year. #ABLeg

Galen Weston and the like (big donor to the Fraser Institute).

I have several friends and acquaintances in this category they are nice people.

Remember that the next time you begrudge a public servant their job. #ABLeg