Tuesday, June 2, 2009

$162-billion man


A new estimate out by TD Canada shows that Harper and Flaherty will continue the record setting ways when it comes to managing the recession and the economy: Mislead Canadians and ring huge deficits. TD expects $162-billion deficits over 5 years, and that Flaherty's predictions of being $700-million in surplus in 5 years is off by about $19-billion (or a biggest goof/lie than Flaherty's prediction of a $36-billion deficit and ending up with $50-billion).

Isn't great to have "fiscal conservatives" running the show?


Cari said...

It all makes one sick, along with selling our Crown Assets to pay for it.., when it comes to the deficit..The 2cent GST cut could pay for a great deal of that by now., instead of a firesale of our Country's guts.

John said...

And the news today says McGuinty underestimated his deficit by almost 30% and that it will likely end up being a $20 billion deficit this fiscal year in Ontario, which is $8 billion larger than Bob Rae's largest, but you support him and have no problem with that right?

Be consistent please Will.

The federal Conservatives have a LOT to be criticized for - the reckless GST cut, the scattershot infrastructure spending with NO focus (unlike McGuinty's clear targets), no plan for the environment (now saying cap and trade has to wait ANOTHER SIX(!) years until Obama's plan is ready to go), plans to sell good public assets at fire sale prices and on and on, but people understand that deficits balloon in recessions as revenues drop like a rock and this is the biggest recession we've had since the great depression.

You will eat your words in 2011 my friend, Tim Hudak's people smile as they read stuff like this from Liberals, you are making his case for him, even though the reality is it's neither Harper nor McGuinty's fault they are off in their deficit projections (though it is definitely true that Harper's deficit is larger than it should be because of his reckless GST cuts).

Instead of not posting this comment, I'd be curious to know what you'd say in McGuinty's defence that would square fairly with what you have to say about Harper's missed deficit projections?