OutSyed The Box

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• Shin Guards
• Penang's Budget Deficits 2010, 2011, 2012, 2013
• Obama Wins 275 Votes By 12:31PM

Shin Guards Posted: 07 Nov 2012 01:24 AM PST

Penang's Budget Deficits 2010, 2011, 2012, 2013 Posted: 06 Nov 2012 08:55 PM PST Well what do you know, the Penang State gomen has tabled a deficit Budget for 2013 again. Here is the news : Penang tables RM1.13bil Budget for 2013. The Penang Govern­ment has tabled a Budget of RM1.13bil for next year. Lim said next year's Budget would see a deficit of RM262.04mil  deficit financed from state's accumulated savings of RM710.81mil as of 2011. "..allocations for social programmes increased, thus the rise in the deficit," he said. OK so Penang has a Deficit Budget of RM262.04 million for 2013. Guan Eng says the deficit will be financed from the States accumulated savings of RM710.81 million. He says there is a higher deficit because of higher financing for social programs. Now here is some historical news - about the Penang State Budget for 2011.   Penang govt tables deficit budget Penang government tabled the state budget for 2011 with a deficit of RM107.78mil (RM28.8mil more than the RM78.98mil deficit in 2010)  Guan Eng said the budget took into account financing of social programmes "The government took the deficit approach to stimulate economic growth.." he added  Lim said deficit to be financed by savings totalling RM538.95mil at the end of 2009. So Penang has had Deficit Budgets for four years straight in a row.  Guan Eng's excuse has been the same - funding of social programs has increased. And the deficit will be funded from the States accumulated savings.  Well I thought the Pakatan was always crowing against Budget deficits. They have even suggested balanced Budgets.  Their Buku Jingga certainly suggests "more prudent" Budget planning and spending. So how come Penang has Budget deficits for four years in a row? Are Budget deficits ok for Penang and not ok elsewhere?  There is no one magic solution to managing Budgets. No one method is perfect. But there are totally wrong ways of doing things. Penang is not doing anything substantially different from the BN Gomen.   Recall Guan Eng crowing that he had reduced Penang's borrowings by RM600.0 million.  Later it was quite embarrasingly exposed that Guan Eng did NOT pay back RM600.0 million but merely made an accounting entry - it was a nett reduction in debt. Not an actual cash repayment of RM600 million after Guan Eng took over running the State. I would have thought that with all their claims to fame, Lim Guan Eng would have balanced the Budget by 2012. Looks like that is not going to happen.

Obama Wins 275 Votes By 12:31PM Posted: 06 Nov 2012 08:32 PM PST At 10:47 am Wednesday 7th November 2012  (its about 12 hours behind in the US) Romney had 153 electoral votes compared to Obama's 143. The results are coming in from the mountain states - Wyoming has gone for Romney. Other mountain states (results not in) are Montana, Idaho, Colorado and Utah.  The prairies from North and South Dakota, Nebraska, Kansas, Oklahoma  and Texas have gone for Romney too.  10:55 am Obama now has 157 electoral votes, Romney 153. Super-white States in the North East have gone Obama. States with the highest number of African-Americans including those in the South are going Romney. 11:06 AM Malaysian time Obama 157,  Romney 162 11:11 am Utah, Wyoming, Montana go for Romney. 12:12 PM Obama 244 Romney 178. Looks like Obama will win. 12:31 PM Obama gets 275 votes to 203 for Romney. Over and out.

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