First Ministers Meeting

[Oleg Bach]

Just hope that these guys invite what's left of the old school bankers ---problem is they are so damned private - and don't like to be seen...oh well - after all this time - bitter me sends my full support to our noble finacial class who came up first internationally as far as a stable and honest system...congrats.

[Smallc]

The Liberals eliminated the deficit, of that there is no question. yes, the way they did it was painful, but it was done and I woulds say we're better off because of it. We have lower taxes and more money available in a big part because of the savings in interest payments on debt. It will be bad if we have to go back into deficit for a time, but unacceptable if it is structural and drastic action is a gain needed to get out. At the time I think that we are going in for 2 to 3 years with small to medium deficits. If it proves to be much worse than that, my opinion of the Prime Minister will become much less than it is now.

[jdobbin]

At the time I think that we are going in for 2 to 3 years with small to medium deficits. If it proves to be much worse than that, my opinion of the Prime Minister will become much less than it is now.

What do you consider small to medium?

[Smallc]

What do you consider small to medium?

Under 10 for medium, under 5 for small.

[jdobbin]

Under 10 for medium, under 5 for small.

I consider $10 to $12 billion pretty substantial. It will be over $40 billion added to the debt in four years and perhaps more if the government can't get their spending habits under control afterwards.

I don't believe the government can afford to wait to rein in their spending and wait for tax revenue to increase. My guess is that even if tax revenue went up, the government would give a tax cut rather than reduce spending. That seems to be their modus operandi.

Edited November 12, 2008 by jdobbin

[Argus]

The Liberals neglected a lot while they were in. It cost a lot of money to fix the mess they left. It's not fun, but eventually somebody has to pay the bills.

There is some truth in that. Some. But the Tories have also been engaged in heavy spending for political purposes - which is something they used to be against - back when they were more, you know, conservative.

[Argus]

How about $2 billion this year, $10-12 billion next year, $10 billion the year after and $10 billion the year after that. Is that structural or poor management of spending?

There is no excuse I can see for a deficit of any kind, except political cowardice.

[Argus]

What do you consider small to medium?

If he produces a deficit that is over a dollar he will lose my vote next election.

Unless, Bob Rae is the Liberal leader and it looks like he might get in. I might have to bite my tongue then and vote for the Tories anyway.

[jdobbin]

There is some truth in that. Some. But the Tories have also been engaged in heavy spending for political purposes - which is something they used to be against - back when they were more, you know, conservative.

For example, there was no reason at all to re-start the military school in Quebec. It was a waste of precious resources. The government was right to concentrate the school on one place and beef us the bilingualism in that location.

The government just as to rein in all departments but seems unwilling to do that,

[jdobbin]

If he produces a deficit that is over a dollar he will lose my vote next election.

Unless, Bob Rae is the Liberal leader and it looks like he might get in. I might have to bite my tongue then and vote for the Tories anyway.

I don't believe Bob Rae will be the next leader. I am concerned that Rae might lend his support to Leblanc though. I don't know about him to think that is a good idea.

I think the exposure curve for Leblanc is too great to overcome before the next election which could happen any time.

I'm still not convinced that we might see a snap election in the next six months so Harper can face Dion again.