PBO Page

[Topaz]

Nerxt week, the PBO Page will bring out his report on the economy and even if Parliament is not seating Page will still do his job. He can't talk about the budget unless he reports to Parliament first, and since Harper doesn't want Parliament working, Page is going ONLINE!! He will say that the structural deficit the Tories have us in will still be there even after the economy moves forward. http://www.theglobeandmail.com/news/politics/budget-officer-vows-to-report-without-parliament/article1420343/

[Jerry J. Fortin]

Nerxt week, the PBO Page will bring out his report on the economy and even if Parliament is not seating Page will still do his job. He can't talk about the budget unless he reports to Parliament first, and since Harper doesn't want Parliament working, Page is going ONLINE!! He will say that the structural deficit the Tories have us in will still be there even after the economy moves forward. http://www.theglobeandmail.com/news/politics/budget-officer-vows-to-report-without-parliament/article1420343/

This could be interesting.

[Topaz]

This could be interesting.

Yes very intersting. IF Harper doesn't want it to come out I'm sure he'll get some of his Tory hackers to hack the website.

[nicky10013]

Yet another blow to Harper and his merry bunch of cut and runners.

[Jerry J. Fortin]

Yet another blow to Harper and his merry bunch of cut and runners.

Maybe, but maybe not. It sort of depends what he has to say, and how he says it. If he is partisan in anyway, this could be spun six different directions at the same time. If he is not, then it could well be another story altogether.

[nicky10013]

Maybe, but maybe not. It sort of depends what he has to say, and how he says it. If he is partisan in anyway, this could be spun six different directions at the same time. If he is not, then it could well be another story altogether.

Well, no matter if he's partisan or not and it's bad news (which, it sounds like it will be), Harper is going to attack him anyways. He's done with the AECL, Elections Canada etc. etc. etc.

[Topaz]

I heard this AM that his report was out and after going to the website I found the following. BTW, republican radio hosts are coming down on Obama because he too went the same route as Harper with a ISFund and they are saying its NOT creating jobs and after read this report I don't think its creating jobs here. http://www2.parl.gc.ca/Sites/PBO-DPB/documents/ISF_Note_and_Tables_En.pdf

[ToadBrother]

I heard this AM that his report was out and after going to the website I found the following. BTW, republican radio hosts are coming down on Obama because he too went the same route as Harper with a ISFund and they are saying its NOT creating jobs and after read this report I don't think its creating jobs here. http://www2.parl.gc.ca/Sites/PBO-DPB/documents/ISF_Note_and_Tables_En.pdf

If it is creating jobs, it's of a limited nature. The problem was the nature of these programs, and the requirement of "shovel ready". If you are going to spend money using public works and infrastructure projects to stimulate the economy, pot-hole fixing programs seem to shoot wide of the mark.

[nicky10013]

This is an article from The Globe and Mail about the British Tories and how they`re going to attempt Martin`s fiscal policies in Great Britain if they`re elected.

http://www.theglobeandmail.com/news/politics/british-tories-take-a-page-from-paul-martins-balanced-books/article1429001/

If Paul Martin had gotten this kind of press while he was in office, things might have turned out differently.

Canada is the envy of nations right now, as our country emerges sooner from a recession that was milder here and with our financial services sector more intact than was the case in most other developed countries. The former prime minister is getting much of the credit.

“Just as New Labour under Tony Blair gleaned valuable lessons from Bill Clinton's slick U.S. presidential campaigns in the 1990s, so leading Conservatives are looking across the Atlantic – beguiled, it seems, by [Mr.] Martin's no-nonsense approach to balancing a nation's books,” the Guardian writes . The British newspaper interviewed Mr. Martin, who took umbrage at being considered a darling of the British right.

“I would contest that,” he is quoted as saying, going on to argue that governments must, in the long term, invest in public services, especially education. “The idea that you can wipe that out and let laissez-faire rule is not on.”

But as the British gear up for a spring election, with their public finances in shambles, it is Mr. Martin's tough approach to fighting the deficit in the 1990s that the British Tories are looking at with admiration.

Next week, Mr. Martin will no doubt pause to remember, painfully, the fourth anniversary of the 2006 federal election, which ended his inglorious tenure as prime minister. His government was brought down by the sponsorship scandal and his own dithering performance.

But the Great Recession has been kind to Mr. Martin's legacy. When he became finance minister under then-prime minister Jean Chrétien, the federal debt was on its way to reaching 72 per cent of the gross domestic product.

By slashing spending, firing public servants and offloading fiscal responsibilities to the provinces (who are still howling), the Liberal government was able to balance its books within four years. And while other countries were unfettering their banks, to make them more globally competitive, Mr. Martin was actually tightening regulations.

Today, Canadian banks are the strongest in the world, housing values have been protected, and unemployment is below American levels.

The recession has proved the former finance minister prescient on another front: Mr. Martin was instrumental, along with another former finance minister, Gordon Brown, in creating the G-20 forum of finance ministers. (Another reason Mr. Martin resists being recruited by British Tories is that he and Mr. Brown, now the beleaguered Labour Prime Minister, are friends).

Mr. Martin campaigned internationally to convert the G-20 into a heads-of-government forum. He was ignored, but the recession quickly turned it into one.

Canada may be returning to the unwelcome world of chronic deficits. Kevin Page, the Parliamentary Budget Officer, will release a report Wednesday that analyses how serious the federal government's structural deficit – that part of the deficit not accounted for by stimulus spending – will be.

But this is no longer Paul Martin's watch. When it was his watch, he got the fiscal fundamentals right. On this, at least, he is entitled to say: You're welcome.

[GrizzlyBear]

This is an article from The Globe and Mail about the British Tories and how they`re going to attempt Martin`s fiscal policies in Great Britain if they`re elected.

http://www.theglobeandmail.com/news/politics/british-tories-take-a-page-from-paul-martins-balanced-books/article1429001/

The article correctly recalls what Martin did right (firing useless public servants, cutting spending, and off-loading fiscal responsibilities to the provinces), but glazes over the banking regulation mentioned, as well as assume that other first world nations were allowing their banks to be "unfettered".

There hasn't been a truly unfettered banking system in any country in recent memory, and any country that has dipped a toe in that pool undermined their attempts by ratcheting up government involvement in other areas. So, it is a misnomer to say that Canadian banks were more successful because of more regulation...that's bunk. If Canadian banks have been more successful it would be because, as Finance Minister, Martin happened to place regulation where it was needed or it made sense to place it, as opposed to say...the United States...who have had anything but "unfettered" banks, but rather plenty of regulation applied in all the wrong places.

And I take umbrage with Martin's assessment of the role of government. He says the government must invest in education, and in-so-doing contradicts the work he did as Finance Minister when he cut government spending in so many areas. You either believe in limited government or you don't. He says letting laissez-faire rule over education is wrong, so clearly he sees a line in the sand somewhere. To me, he displays a stunning level of ignorance to infer that the private sector would not provide higher quality education for less money than the government could ever hope to provide. And if that isn't what he is inferring, than one is to assume by his idea of the federal government "investing" in education, that he is in favour of taking money from the pockets of Canadians, and throwing it down a rat hole.

[Smallc]

Well that's pretty simple. Martin doesn't believe in limited government. He believes in spending within your means.

[Keepitsimple]

So the Globe - and it appears many posters - believe that Harper should cut transfers for Health and Education, among other things.....just like Martin did.

Well, that's not what's going to happen. Page's report will be interesting and indeed it will provide Harper "cover" for limiting the growth of the Federal government....and yes, that may end up with the termination or re-structuring of many government programs that have outlived their initial usefulness but no one has had the courage to push them off the gravy train.

This plays well to his base - Conservatives have always wanted a smaller, more effective Federal government - focused on their Constitutional responsibilities.

So bring it on Mr. Page. Canadians have accepted that the stimulus was required - and many are aware that the opposition wanted the government to spend even more - and spend it faster. Now Mr. Page will say it's time for tough medicine......and the Conservatives can go about their task of starting to "right-size" the Federal government.

Edited January 13, 2010 by Keepitsimple

[Smallc]

- focused on their Constitutional responsibilities.

Oh yeah right. Conservatives in Canada only like the Constitution when it serves their purpose.

[Shakeyhands]

Oh yeah right. Conservatives in Canada only like the Constitution when it serves their purpose.

It's already starting, the attack on Page.

[Jerry J. Fortin]

It's already starting, the attack on Page.

I will say that a lot of people wanted the auto companies bankrolled, and now we face the reality of that move. Its going to cost us.

[nicky10013]

So the Globe - and it appears many posters - believe that Harper should cut transfers for Health and Education, among other things.....just like Martin did.

Well, that's not what's going to happen. Page's report will be interesting and indeed it will provide Harper "cover" for limiting the growth of the Federal government....and yes, that may end up with the termination or re-structuring of many government programs that have outlived their initial usefulness but no one has had the courage to push them off the gravy train.

This plays well to his base - Conservatives have always wanted a smaller, more effective Federal government - focused on their Constitutional responsibilities.

So bring it on Mr. Page. Canadians have accepted that the stimulus was required - and many are aware that the opposition wanted the government to spend even more - and spend it faster. Now Mr. Page will say it's time for tough medicine......and the Conservatives can go about their task of starting to "right-size" the Federal government.

http://www.theglobeandmail.com/blogs/bureau-blog/deficit-permanent-and-it-wont-go-away-watchdog-warns/article1429339/

Sure, it gives them cover to create the "right sized" government. However, when you have Kevin Page essentially calling Flaherty incompetent, that doesn't help much.

Edited January 13, 2010 by nicky10013

[ToadBrother]

Well that's pretty simple. Martin doesn't believe in limited government. He believes in spending within your means.

Martin was a terrible Prime Minister (it didn't help that his ambitions had pretty much split the Liberals apart, something that, even now, haunts them), but, like it or not, he is probably one of the most successful Finance Ministers in Canadian history.

But, back on topic, we can certainly another reason why Harper shut Parliament down. If Parliament were back in a couple of weeks, Page's report would be burning holes in MP's desks. Deal with economic issues, indeed. More like run like hell from them.

Edited January 13, 2010 by ToadBrother