Liberals push more stimulus

punked · July 24, 2009

Really after all the good news. For casted growth of 1.5-3% next year, the TSX up to last year levels, DOW breaking 9000 yesterday? We need more, honestly it looks like we got enough and can pay it off as revenues increase and still be the envy of the G8. Honestly I know I said Liberals need policy but I meant on social issues not economic ones.

Bank Governor Mark Carney’s forecast of a nascent recovery still means unemployment will be on the rise for some time, the Liberal Leader said, and Prime Minister Stephen Harper must do more to address it.
“We welcome green shoots in the economy. But it is going to be a tough, long, hard slog to get this country back to full employment,” he said.

http://www.theglobeandmail.com/news/politi...article1229628/

Moonbox · July 24, 2009

Where's JDOBBIN? Still...more spending...more stimulus demands from the Liberals. Clearly this means they are the more responsible fiscal managers....... :blink:

August1991 · July 24, 2009

What a terrible opening to a newspaper article:

Canada still needs more stimulus spending and expanded employment insurance despite the Bank of Canada’s declaration that the country is moving out of recession, Liberal Leader Michael Ignatieff says.
Bank Governor Mark Carney’s forecast of a nascent recovery still means unemployment will be on the rise for some time, the Liberal Leader said, and Prime Minister Stephen Harper must do more to address it.

“We welcome green shoots in the economy. But it is going to be a tough, long, hard slog to get this country back to full employment,” he said.

It's not clear whether Mark Carney, Stephen Harper or Michael Ignatieff "welcomes green shoots".

----

I think the sole purpose of Ignatieff's comment is merely to show that he's still alive, and he's still in Canada.

Where was the photo taken? Is it connected to the quote?

Edited July 24, 2009 by August1991

Smallc · July 24, 2009

It's clear to me.

jdobbin · July 24, 2009

Where's JDOBBIN? Still...more spending...more stimulus demands from the Liberals. Clearly this means they are the more responsible fiscal managers.......

I doubt we'd been in as large a deficit if the Liberals had remained in power.

As for stimulus money, I think it will still be slow going in terms of hiring. Some projects that end this fiscal year such as the Tory home renovation credit could result in a slowdown next year.

So, if Harper thinks it is all over, he is probably wrong.

punked · July 24, 2009

I doubt we'd been in as large a deficit if the Liberals had remained in power.
As for stimulus money, I think it will still be slow going in terms of hiring. Some projects that end this fiscal year such as the Tory home renovation credit could result in a slowdown next year.

So, if Harper thinks it is all over, he is probably wrong.

Dobbing you can do better then this post. I know you can.

punked · July 24, 2009

Even more bad news for Iggy on the economy.

Canadians are beginning to believe that the economic recovery has arrived, and would devote an extra chunk of cash to paying down debt, according to Angus Reid Strategies poll released Thursday.....
Residents of the prairie provinces (54% in Alberta and 51% in Manitoba/Saskatchewan) are the most confident in the economic recovery, while Atlantic Canadians (34%) are the least confident.

Canadians are also worrying less about economic and financial matters. Fewer people are worrying “frequently” or “occasionally” about the safety of their savings (30%, down 11 points from June), the value of their investments (35%, down 11 points), their employer running into serious financial trouble (19%, down five points), or them or someone in their household becoming unemployed (35%, down four points).

http://www.investmentexecutive.com/client/...ews=&IdPub=

Are the Liberals finally breaking with polls and doing what they think is right?

August1991 · July 24, 2009

It's clear to me.

It's clear to you that Ignatieff is alive?

In Canada?

madmax · July 24, 2009

I think the sole purpose of Ignatieff's comment is merely to show that he's still alive, and he's still in Canada.

That sounds reasonable, because little else in the article does.

Moonbox · July 24, 2009

I doubt we'd been in as large a deficit if the Liberals had remained in power.

That's easy to say knowing that you can never be disproven

I mean, Paul Martin increasing spending at the exact same rate as Harper is totally a good indication of this. Having the Liberals demand spending over and above Harper's is another good indication of their so-called fiscal responsibility. Mhmm...Totally. Everything you've been saying all along is clearly supported by the LPC's actions over the last 6-7 yeas. For sure...Yep....

Bonam · July 24, 2009

That's easy to say knowing that you can never be disproven
I mean, Paul Martin increasing spending at the exact same rate as Harper is totally a good indication of this. Having the Liberals demand spending over and above Harper's is another good indication of their so-called fiscal responsibility. Mhmm...Totally. Everything you've been saying all along is clearly supported by the LPC's actions over the last 6-7 yeas. For sure...Yep....

He might be right though, given that our GST would still be 7%.

Smallc · July 24, 2009

It's clear to you that Ignatieff is alive?
In Canada?

No, it's clear to me that Ignatieff was speaking.

Moonbox · July 24, 2009

He might be right though, given that our GST would still be 7%.

I'm happy to keep the GST where it is and NOT increase stimulus spending any further thanks. Ignatieff can stuff it.

Ideally I would like the GST at 7% still AND no extra stimulus planning so we could pay down our debt, but that doesn't seem to be an option either is providing us. Once again, I'll go with the lesser of two evils.

Machjo · July 24, 2009

Looks like the government will screw up twice in a row. The first time it screwed up by not drawing up a provisional counter-deflationary plan while we were still in an economic boom long ago.

Now I get the impressionit will repeat the mistake by not planning for the upcoming labour shortages, inflation, high interest rates and debt while we're still experiencing.

Why do they always have to govern by the seat of their pants, always reacting at the last minute? A recession is not the time to draw up an anti-recessionary plan, but the time to implement it. A boom is not the time to plan an anti-recession policy, but the time to implement it. A responsible government shoulld be planning for recession in boom periods, and planning for inflation in times of recession. Why do they always wait till the last minute to plan anything? What? They're salaries are too low to motivate them?

August1991 · July 24, 2009

Looks like the government will screw up twice in a row. The first time it screwed up by not drawing up a provisional counter-deflationary plan while we were still in an economic boom long ago.

On the contrary.

This government is benefitting from Paul Martin's cuts in spending, and rise in taxes.

This government is also, in particular, benefitting from the basic good sense of Canadian banks - including Paul Martin's decision to keep them in line by refusing conglomeration.

This government has also been smart enough not to do anything radical in fiscal policy.

-----

IMV, Canada doesn't need a fiscal stimulus package - but we may have to ride some wild turns on the exchange rate express, and possibly more twists than Witness For the Prosecution in the Bank's foreign exchange dealings.

Edited July 24, 2009 by August1991

Smallc · July 24, 2009

This government is benefitting from Paul Martin's rise in taxes.

That happened when?

jdobbin · July 24, 2009

That's easy to say knowing that you can never be disproven

And yet you always say that the Liberals would have spent more knowing that it can't be proven.

I mean, Paul Martin increasing spending at the exact same rate as Harper is totally a good indication of this. Having the Liberals demand spending over and above Harper's is another good indication of their so-called fiscal responsibility. Mhmm...Totally. Everything you've been saying all along is clearly supported by the LPC's actions over the last 6-7 yeas. For sure...Yep....

The Liberals also cut which is something that the Tories have not really done since getting in office.

jdobbin · July 24, 2009

you can do better then this post. I know you can.

Well, we certainly know that a good economy didn't help the NDP in Saskatchewan, right?

Machjo · July 24, 2009

On the contrary.
This government is benefitting from Paul Martin's cuts in spending, and rise in taxes.

This government is also, in particular, benefitting from the basic good sense of Canadian banks - including Paul Martin's decision to keep them in line by refusing conglomeration.

This government has also been smart enough not to do anything radical in fiscal policy.

-----

IMV, Canada doesn't need a fiscal stimulus package - but we may have to ride some wild turns on the exchange rate express, and possibly more twists than Witness For the Prosecution in the Bank's foreign exchange dealings.

Over all, I agree we've done better than other countries. But prior to the recession, we could have done even more to cut government spending and pay off more debt. There is plenty of wastage with governemtn still. I have to deal with it at times for work, and they are incredibly bureaucratic.

Now, as for stimulus spending, I'm all for it in a recession, but that doesn't mean random spending just to create jobs, but rather strategic spending to upgrade the skills of the unemployed (not bailing out a dinosaur industry) so that at the end of the recession, when labour shortages strike, they wont' be as severe since workers would be more highly qualified, thus helping to keep salaries lower and thus prices down too, keeping inflation down overall. Or alternatively, to buy stocks instead of just giving the money out, so that at the end of the recession, the money can be taken out of circulation again by just seling the stocks. or other plans of that nature. Not just giving money out liek candy, but having a global long-term plan, showing how the recessionary plan fits in with the boom plan, etc.

punked · July 24, 2009

Well, we certainly know that a good economy didn't help the NDP in Saskatchewan, right?

Yeah the Liberals and Conservatives dieing in Saskatchewan really hurt them. However it seemed to hurt the Liberals more seeing how they are gone.

jdobbin · July 24, 2009

Yeah the Liberals and Conservatives dieing in Saskatchewan really hurt them. However it seemed to hurt the Liberals more seeing how they are gone.

Nope. Still around.

But, as I said, a good economy is no guarantee of victory. The NDP got spanked. And now the corruption scandal will keep them in knots for the foreseeable future.

punked · July 24, 2009

Nope. Still around.

Really how many seats do you have?

jdobbin · July 24, 2009

Really how many seats do you have?

I think you indicated that they were gone. They aren't.

I expect if the NDP can't get out of the corruption, they could easily see themselves replaced as Opposition. The disgust is running pretty high right now.

punked · July 24, 2009

I think you indicated that they were gone. They aren't.
I expect if the NDP can't get out of the corruption, they could easily see themselves replaced as Opposition. The disgust is running pretty high right now.

You are right pulling in Green party numbers between 3-6% in all ridings accept 2, I think you are crazy. It was a good 100 year run now they are gone and it is a little sad. Maybe I will get over their death........oh wait I am over it.

Edited July 24, 2009 by punked

jdobbin · July 24, 2009

You are right pulling in Green party numbers between 3-6% in all ridings accept 2, I think you are crazy. It was a good 100 year run now they are gone and it is a little sad. Maybe I will get over their death........oh wait I am over it.

Given the corruption of the NDP in Saskatchewan, you might have to get over their death. Yeesh. Could it get much worse?