Dear Minister Ceci, when you’re in a hole, stop digging

Finance Minister Joe Ceci (pictured above) released Alberta’s Second Quarter Fiscal Update this week, confirming that the province’s budget deficit this year will be even bigger than forecasted in his spring budget. While the budget planned for a $10.4 billion deficit, the already large deficit is now expected to reach $10.8 billion.So why has the deficit grown?Minister Ceci was quick to blame the wildfire in Fort McMurray, but this argument doesn’t withstand scrutiny. It’s true that disaster-assistance spending is now forecasted to be $1 billion higher than originally budgeted. But what complicates the story is that provincial revenues have gone

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