Maggie’s Canadian Stimulus plan

ArcticLight

Sergeant
Full Member
Minuteman
Mar 27, 2003
974
69
Silverdale, WA
Ain't this the truth!

Stimulus Package Canadian Style

It is a slow day in the small Saskatchewan town of Yorkton, and streets
are deserted. Times are tough, everybody is in debt, and everybody is
living on credit.

A tourist visiting the area drives through town, stops at the motel, and
lays a $100 bill on the desk saying he wants to inspect the rooms upstairs
to pick one for the night.

As soon as he walks upstairs, the motel owner grabs the bill and runs next
door to pay his debt to the butcher.

The butcher takes the $100 and runs down the street to retire his debt to
the pig farmer.

The pig farmer takes the $100 and heads off to pay his bill to his
supplier, the Co-op.

The guy at the Co-op takes the $100 and runs to pay his debt to the local
prostitute, who has also been facing hard times and has had to offer her
"services" on credit.

The hooker rushes to the hotel and pays off her room bill with the hotel
owner.

The hotel proprietor then places the $100 back on the counter so the
traveler will not suspect anything.

At that moment the traveler comes down the stairs, states that the rooms
are not satisfactory, picks up the $100 bill and leaves.

No one produced anything. No one earned anything. However, the whole
town is now out of debt and looks to the future with a lot more optimism.

And that is how a Stimulus Package works.
 
Re: Canadian Stimulus plan

Potash, oil boost Saskatchewan budget surplus
Thu, Nov 25 2010

* Expects C$68.5 mln surplus 2010-11

* Potash sales expected up at 8.8 mln tonnes

By Rod Nickel

WINNIPEG, Manitoba, Nov 25 (Reuters) - The Western Canadian province of Saskatchewan raised its projected budget surplus for the 2010-11 fiscal year on Thursday, citing higher royalty revenue from oil and potash.

Saskatchewan expects to post a C$68.5 million ($67.8 million) surplus, about three times what it had forecast in its C$10 billion budget, Finance Minister Ken Krawetz said in his mid-year report.

By contrast, the neighboring province of Alberta, which also depends on resource revenues, raised its record deficit forecast earlier this week. [ID:nN22289447]

As a result of its improved position and lower interest costs, Saskatchewan will not have to dip into its main savings reserve and will slightly reduce its year-end debt to C$4.14 billion, said Randy Burton, a spokesman for the provincial Finance Department.

The province of one million people is a major producer of the crop nutrient potash, as well as uranium, grain and oil. It is home to world's biggest fertilizer maker, Potash Corp (POT.TO: Quote, Profile, Research, Stock Buzz), and uranium major Cameco Corp. (CCO.TO: Quote, Profile, Research, Stock Buzz)

Both oil and potash revenues are strong, Krawetz said, resulting in an increase of nearly C$101 million in royalties from non-renewable resources since the first quarter.

Potash sales volumes look to more than double in 2010 to 8.8 million tonnes, the government said.

Saskatchewan projects a potash price of US$342.97 per tonne at the mine gate, which is unchanged since its first-quarter update, Burton said.

Another key reason for the province's improved financial position is stronger corporate income tax revenue, Krawetz said.

($1=$1.01 Canadian) (Reporting by Rod Nickel; editing by Rob Wilson)
http://www.reuters.com/article/idUSN2528217220101125

That was a good story none the less.