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The US government’s debt has been downgraded. Here’s what to know.

Published Mon, 11 Nov 2024 04:04:14 GMT

WASHINGTON — Late Tuesday, Fitch Ratings became the second of the three major credit-rating firms to remove its coveted triple-A assessment of the United States government’s credit worthiness, a move that spurred debate in Washington about spending and tax policies.Fitch cited the federal government’s rising debt burden and the political difficulties that the U.S. government has had in addressing spending and tax policies as the principal reasons for reducing its rating from AAA to AA+.Fitch said its decision “reflects the expected fiscal deterioration over the next three years, a high and growing general government debt burden, and the erosion of governance” compared with other countries with similar debt ratings.The downgrade may have little impact on financial markets long-term or on the interest rates the U.S. government will pay. Here’s what you need to know:HOW DID THE GOVERNMENT GET TO THIS POINT?Fitch’s move comes just weeks after the White House and Congress resolved a stan...

Promoting career pathways among top priorities in Smith’s mandate letter to education minister

Published Mon, 11 Nov 2024 04:04:14 GMT

By Samantha JohnsonSouthern Alberta NewspapersLocal Journalism Initiative ReporterEstablishing an online career counselling website to assist students and their parents with exploring career and post-secondary options is one of the goals Premier Danielle Smith outlined for Minister of Education Demetrios Nicolaides in a recently-issued mandate letter.It notes $20 million will be invested over four years to promoting career pathways. Others goals include organizing high school career fairs, putting advertising campaigns in high schools promoting high-demand careers, more teacher training for career and technology studies, and promoting career educational scholarships in labour shortage areas.Smith also requests Nicolaides increase student participation in programs or paid internships in the community, and to design and implement an apprenticeship system for high school students, along with enhancing and creating more dual-credit programs.An additional $5 million is to be invested for...

Ag disaster declared as local growing conditions deteriorate

Published Mon, 11 Nov 2024 04:04:14 GMT

By Heather CameronSunny South NewsLocal Journalism Initiative ReporterThe Municipal District of Taber has declared an agricultural disaster.At their Council meeting on July 18, Council made the decision for the crop year 2023 as current conditions in the M.D. fit RMA (Rural Municipalities of Alberta) guidelines for an agricultural disaster.The M.D. stated they made this declaration to “address the severe drought conditions which are negatively impacting local agricultural producers,” especially within the dryland areas of the municipality. They recognized the importance of agricultural production to the economy and “stand with local producers during this difficult time.”According to the news release announcing the declaration, the Alberta Crop Report rated all crop conditions in the South at 35 per cent good or excellent as of July 11. Soil moisture reserves, the release stated, are severely depleted at 42 per cent. The news release also said that desiccated conditions have caused g...

New wind project to begin construction

Published Mon, 11 Nov 2024 04:04:14 GMT

By Anna SmithSunny South NewsExpected in the first quarter of 2025, ACCIONA Energía has announced the beginning of construction on a new wind project in the County of Forty Mile.The 280MW wind project will feature 49 Nordex turbines and will be ACCIONA Energía’s largest wind project in North America. The wind energy development has the potential to be expanded up to 400MW in a possible second phase.“Forty Mile will create up to 250 jobs during the peak construction phase and up to 25 permanent jobs once operational,” said ACCIONA Energía in a press release.The project has been developed by Renewable Energy Systems Canada, Inc. (RES), and will be working closely with local government and landowners for smooth development and to maximize the positive impact on the surrounding community.A portion of the revenue with this project will be going to the company’s Social Impact Management program, which strives to “support education, wellness, and environmental stewardship programs in the c...

Chin Reservoir expansion project on track for construction start

Published Mon, 11 Nov 2024 04:04:14 GMT

By Trevor BuschSunny South [email protected] is now fully underway for the Chin Reservoir expansion in southern Alberta, and Taber-Warner MLA Grant Hunter says the $133 million project is currently on schedule to meet preliminary construction timelines.“In terms of the other work that’s happening, the Chin Reservoir expansion, that is still going forward as well. There was another study that needed to be done that is being worked on right now. We had originally heard from Infrastructure that the shovels are going to be in the ground this fall as well. So we’re still hopeful that that will happen, that we’ll be able to get that (study) ready, finished and completed. And then once that is done, then we can get into the ground. But if not, it will be early spring next year,” said Hunter.The project will allow for the expansion of irrigated acres in St. Mary River (SMRID) and Raymond irrigation districts. The planned expansion could add over 200,000 irrigated acres to th...

Coaldale Agricultural Society celebrates 50 years with Open Farm Days agricultural bus tour

Published Mon, 11 Nov 2024 04:04:14 GMT

By Erika MathieuSunny South NewsThe Coaldale and District Agricultural Society is excited to commemorate its 50th anniversary by hosting an inaugural agricultural bus tour as part of the 2023 Open Farm Days, on Aug. 19.Showcasing the rich farming heritage and vibrant agricultural industry of Coaldale and Lethbridge County, the tour promises an immersive experience, with visits to four diverse farms and ag retail establishments. Participants will have the opportunity to learn about the operations first-hand from knowledgeable hosts, with refreshments and lunch, and learn about the region’s agricultural industry.The event is scheduled to take place on an upcoming date, inviting local farming enthusiasts and curious individuals to partake in a memorable agricultural adventure. Here’s a glimpse into the day’s itinerary:1. KCL Cattle Co.: This cattle operation will showcase their innovative approach to raising cattle, offering a unique perspective on modern beef production.2. Tokariuk Fa...

Second annual Cowpie Bingo Fundraiser planned for Aug. 26

Published Mon, 11 Nov 2024 04:04:14 GMT

By Erika MathieuSunny South NewsThe Sunny South Lodge is hosting its second annual Cowpie Bingo Fundraiser.Although a bit unconventional, the event is geared toward putting more money into recreation programming at the Sunny South Lodge in Coaldale.According to recreation therapist and event organizer at Sunny South Lodge, Haylee Ankermann, the 2022 fundraiser helped raise approximately $500 in 2022, with proceeds benefitting the resident’s comfort for activities, as well as gifts and prizes. The 2023 fundraiser is scheduled for Saturday, Aug. 26 from 11 a.m.-2 p.m., (or as long as it takes for the cow to make her selection) between the Lodge and the Manor at 1112 20 Avenue in Coaldale.A cow will be let loose within the fenced grid of 300 squares, and will drop a pie on a square of her choosing. The winner will win back $1 for every square sold.Organizers will also be hosting a $5 BBQ lunch as well which includes a pop, hot dog, and bag of chips.Ankermann said, “the public is not on...

Feds reward failure with taxpayer-funded bonuses

Published Mon, 11 Nov 2024 04:04:14 GMT

Bonuses are for people who exceed in their job, not for people who fail at their job. Finance Minister Chrystia Freeland needs to remember that. The Bank of Canada handed out $20 million in bonuses in 2022 while the Crown corporation hiked interest rates seven times and inflation reached a 40-year high. The central bank’s overarching objective is to keep inflation around “two per cent inside a control range of one to three per cent.” Despite inflation reaching 4.8 percentage points above its target, the Bank of Canada gave 80 per cent of its workforce a bonus – an average of $11,200. The Bank of Canada also failed to meet its inflation target in 2021, when it handed out $18 million in bonuses. That came on the heels of $16 million in bonuses in 2020. While prices went up around the world, Canada’s 2021 inflation rate was “among the very highest of any industrialized country,” according to a report from the Fraser Institute published January 2022. At 6.8 per cent inflation, Canada’s ...

Village of Barons celebrates 45 years since release of Superman

Published Mon, 11 Nov 2024 04:04:14 GMT

By Erika MathieuSunny South NewsThe Village of Barons is celebrating 45 years since the release of the 1978 blockbuster hit, Superman.Various locations in southern Alberta, including the Barons school, transformed into Smallville for several weeks during the summer of 1977. Because of the number of local extras, and the sheer scope and budget of the film for its day, the film is of particular interest and importance for many people in the area, including the Barons Historical Society, which currently has a myriad of original photos, articles and memorabilia on display at the local History Centre.The History Centre has in its possession original newspaper clippings from local and national media, original photos of locals taken on set, and tons of trivia, and other little-known anecdotes of the making of one of the highest-grossing films of its time.Produced by the Salkinds, a father-son production duo, the decision was made to shoot Superman and its sequel Superman II simultaneously ...

Coaldale Summer Fest to take place August 11-12

Published Mon, 11 Nov 2024 04:04:14 GMT

By Erika MathieuSunny South NewsThe countdown to Coaldale’s second annual Summer Fest event is on, with a packed itinerary for the Town’s two-day event.With the grand opening of Coaldale’s new Civic Square earlier this year, Summer Fest 2023 will be the first large-scale community event to utilize the new infrastructure.Known as “Settler Days,” prior to 2022, Coaldale’s main summer event underwent a wildly successful rebrand. The name change reflected concerns from some over whether connotations of colonialism should be revised as a gesture of reconciliation. Additionally, Town staff and council opted to approve the rebranding in late 2021 on the basis that the new dates of the Town’s summer event would reduce scheduling conflicts for popular programming such as the Coaldale Custom Cruisers Show and Shine.Summer Fest 2023 will also feature regional musicians throwing down on stage as they compete in the Battle of the Bands contest on the ATCO stage. While this is sure to please musi...