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Harper gets his Budget Figures wrong AGAIN!
Topic Started: Feb 25 2012, 02:50 AM (355 Views)
Brewster
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Calgary Herald
 
OTTAWA — The federal government's budget deficit continued to shrink in December as revenues outpaced spending, keeping Ottawa on course for a smaller-than-expected shortfall for the year.

The deficit for the month was $353 million, down from $1.5 billion in December 2010, while the shortfall for the first nine months of fiscal 2011-12 fell to $17.69 billion from $27.37 billion in the same period a year earlier, the Finance Department said Friday.

With just three months left in fiscal 2011-12, Ottawa should come in well under its full-year projection for a $31-billion deficit.

Finance Minister Jim Flaherty has pushed back the government's timetable for eliminating the deficit by a year to 2015-16, from the original goal of 2014-15, due to weaker-than-expected domestic economic growth and concerns over a possible global recession. [Now maybe he'll have to bring it forward again...]

TD Economics has calculated the 2011-12 deficit will come in at between $27 billion and $28 billion, at least $3 billion below the government's forecast.

Stupid Canadian Conservative socialists, can't even keep their numbers straight...
Edited by Brewster, Feb 25 2012, 02:53 AM.
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jackd
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Quote:
 
Harper gets his Budget Figures wrong AGAIN!

Just roll back to 10 / 12 years ago...
That little game of forcasting huge deficit and show better than expected results later was started by Paul Martin in the Liberal government.
Same game for surpluses: Forecast a slight tiny surplus, and come out with a bigger one makes politician instant stars.
One more occasion to show the voters how great they are and how smart they've been.
Edited by jackd, Feb 25 2012, 08:14 AM.
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Brewster
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Some truth in that, Jack.
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Chris
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Can we get a link? Or did you modify the content again?

"Stupid Canadian Conservative socialists..."

No one has accused CA of socialism, though, obviously, some CAs are socialists.
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Deleted User
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Not sure if this is the story, but its in todays paper

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Banandangees
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Perhaps Harper is "erring" on the side of caution. It has been pointed out (I mentioned this in the "We are already Europe" thread) that it was written by one of the Canadians that Canada was "fiscally conservative and socially liberal." I take that as being only moderately socially liberal whereby a moderately fiscally conservative government can keep a balance between the two. They certainly aren't independent of each other. Weigh Harper's "austere" budgeting against what the EU commission has presented to those EU nations that are in financial trouble.

Look what European Central Bank President Mario Draghi warned concerning Europes "socially liberal and it's fiscally concervative" existance:

Quote:
 
Draghi Says Continent's Social Model Is 'Gone,' Won't Backtrack on Austerity.

Central Bank President Mario Draghi warned beleaguered euro-zone countries that there is no escape from tough austerity measures and that the Continent's traditional social contract is obsolete, as he waded into an increasingly divisive debate over how to tackle the region's fiscal and economic troubles.

He said Europe's vaunted social model—which places a premium on job security and generous safety nets—is "already gone," citing high youth unemployment; in Spain, it tops 50%. He urged overhauls to boost job creation for young people.

"You know there was a time when [economist] Rudi Dornbusch used to say that the Europeans are so rich they can afford to pay everybody for not working. That's gone," Mr. Draghi said.
(something President Obama apparently believes the very wealthy can do here in the US)


Canada's balance between it's it's "moderate" social liberalism" and it's "moderate fical conservatism" is much tighter and more uniform across Canada than that of the EU where it's fiscal conservatism varies greatly among nations as does it's social liberalism. As I mentioned in the other thread I don't see a close resembelance between Canada's "conservative liberalism" and that of the EU's at all.

Harper may not be perfect but maybe you should count your blessing as a "fiscally conservative/socially liberal" nation that is, for this moment in time, on balance. That can get out of wack with something as sneaky as an aging population. That's the way I see it. I could be wrong.


We could use a little Harperization down here. In fact we could use a lot of Martin/Harper policies down here.
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Pat
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jackd
Feb 25 2012, 03:12 AM
Quote:
 
Harper gets his Budget Figures wrong AGAIN!

Just roll back to 10 / 12 years ago...
That little game of forcasting huge deficit and show better than expected results later was started by Paul Martin in the Liberal government.
Same game for surpluses: Forecast a slight tiny surplus, and come out with a bigger one makes politician instant stars.
One more occasion to show the voters how great they are and how smart they've been.
That sounds like one of the games played here Jack. It must be catching. Only a politician would brag about running up the credit card by $37 billion, and then bragging that he didn't overspend as much as he tried to. :bang:
Edited by Pat, Feb 25 2012, 11:35 AM.
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