jacee Posted October 25, 2012 Report Share Posted October 25, 2012 Ottawa’s long-term debt plans shelved The Conservative government no longer has targets for erasing Canada’s federal debt, which grew by $125-billion since the recession. Finance Minister Jim Flaherty confirmed Wednesday that the recession has derailed Ottawa’s long-term debt plans and new targets won’t be set until the government starts posting yearly surpluses again – which is not forecast to happen for three more years. … The federal debt stood at $582.2-billion for 2011-12, which is up from $457.6-billion in 2007-08. It was just five years ago that the government was promoting an ambitious plan called Advantage Canada that promised to erase the country’s net public debt “by 2021 at the latest,” according to Mr. Flaherty’s 2007 budget. ... Meanwhile, the fiscally conservative Canadian Taxpayers’ Federation said the government should be pressured to stick with its original debt plan, regardless of the recession. “By abandoning it, they’re saying they’re adrift,” said Gregory Thomas, the federation’s federal director. “I think the fiscally conservative base of the government has to be profoundly concerned.” "Adrift" in a sea of debt with no plan ... There's always an excuse! Sounding like Liberals! Quote Link to comment Share on other sites More sharing options...
Smallc Posted October 25, 2012 Report Share Posted October 25, 2012 You're mischaracterizing what they're saying. Quote Link to comment Share on other sites More sharing options...
Fletch 27 Posted October 25, 2012 Report Share Posted October 25, 2012 I think thats rather prudent given the Global instability! (Well,,, that is If you actually heard the commnets from Flaherty and the Govs position.) Its nice to see a government that can change course under new conditions Quote Link to comment Share on other sites More sharing options...
login Posted October 25, 2012 Report Share Posted October 25, 2012 (edited) It's not global instability it is the regular economic cycle. It is so damning not to apply income taxes to their original purpose. The debt is just a yolk so corrupt government can milk the people. shame on corruption 1. no deficit spending 2. tax dollars to the debt first. This is just plain fiscal incompetence. If they can afford to lend they can afford to be taxed. Edited October 25, 2012 by login Quote Link to comment Share on other sites More sharing options...
Boges Posted October 25, 2012 Report Share Posted October 25, 2012 (edited) A Half a Trillion dollar debt is not bad considering the National Debt of the US. http://www.brillig.com/debt_clock/ http://www.debtclock.ca/ If Canada was able to eliminate the National Debt that would be a massive accomplishment as a G8 Nation. Canada's debt per person is about $17,000. It's about $50,000 in the US and $26,000 in Germany. I think the current government is well on its way to removing the deficit. They're doing a lot better than the Liberal Ontario government in hiding. Edited October 25, 2012 by Boges Quote Link to comment Share on other sites More sharing options...
Sleipnir Posted October 25, 2012 Report Share Posted October 25, 2012 Ottawa's long-term debt plans shelved The Conservative government no longer has targets for erasing Canada's federal debt, which grew by $125-billion since the recession. Finance Minister Jim Flaherty confirmed Wednesday that the recession has derailed Ottawa's long-term debt plans and new targets won't be set until the government starts posting yearly surpluses again which is not forecast to happen for three more years. … The federal debt stood at $582.2-billion for 2011-12, which is up from $457.6-billion in 2007-08. It was just five years ago that the government was promoting an ambitious plan called Advantage Canada that promised to erase the country's net public debt "by 2021 at the latest," according to Mr. Flaherty's 2007 budget. ... Meanwhile, the fiscally conservative Canadian Taxpayers' Federation said the government should be pressured to stick with its original debt plan, regardless of the recession. "By abandoning it, they're saying they're adrift," said Gregory Thomas, the federation's federal director. "I think the fiscally conservative base of the government has to be profoundly concerned." The conservative government seems to have no plans for anything these days. Quote Link to comment Share on other sites More sharing options...
jacee Posted October 25, 2012 Author Report Share Posted October 25, 2012 Funny to see the spin and tapdance of Harper supporters when he abandons his campaign promises. Libs and Cons are pretty much the same in that regard. And the debt goes on ... http://cdn.liberal.ca/files/2011/03/Federal-Debt-EN11.jpg Quote Link to comment Share on other sites More sharing options...
Boges Posted October 25, 2012 Report Share Posted October 25, 2012 (edited) Funny to see the spin and tapdance of Harper supporters when he abandons his campaign promises. Libs and Cons are pretty much the same in that regard. And the debt goes on ... http://cdn.liberal.c...l-Debt-EN11.jpg What are Mulclaire's Debt removal strategies? People keep forgetting that the current deficit was a result of the Economic Action Plan which was as much a decision by the Opposition as it was of the government during the Economic meltdown of 2008/9. The whole Coalition scare in 2008 was mostly caused by the fact that the CPC still wanted to balance to books in the face of a global economic meltdown. In hindsight it was a good decision for the opposition to force the government to go into debt to help Canada through the meltdown. Edited October 25, 2012 by Boges Quote Link to comment Share on other sites More sharing options...
Smallc Posted October 25, 2012 Report Share Posted October 25, 2012 Funny to see the spin and tapdance of Harper supporters when he abandons his campaign promises. That promise was made before the global recession. Things aren't exactly the same now. Quote Link to comment Share on other sites More sharing options...
jacee Posted October 25, 2012 Author Report Share Posted October 25, 2012 You're telling me they didn't know there was a recession coming?? Not very well informed were they? Same old-Same old Lib-Con promise-and-retreat Quote Link to comment Share on other sites More sharing options...
Smallc Posted October 25, 2012 Report Share Posted October 25, 2012 You're telling me they didn't know there was a recession coming?? Nobody knew what was coming. That's why governments of all parties in the country were and are running deficits. Quote Link to comment Share on other sites More sharing options...
Boges Posted October 25, 2012 Report Share Posted October 25, 2012 You're telling me they didn't know there was a recession coming?? Not very well informed were they? Same old-Same old Lib-Con promise-and-retreat Well abandoning debt repayment schedules still got them a healthy majority 3 years later so who cares? Their deficit removal strategies are doing fairly well. Quote Link to comment Share on other sites More sharing options...
PIK Posted October 25, 2012 Report Share Posted October 25, 2012 The conservative government seems to have no plans for anything these days. Plans change due to what is happening across the globe, do you wish for them not to change course when the rest of the world can't get it's act together. They are dealing with quite the balancing act, while the rest of the leftist world burns. Great leadership. Quote Link to comment Share on other sites More sharing options...
Mighty AC Posted October 25, 2012 Report Share Posted October 25, 2012 While running against Dion, Harper claimed there would be no recession. Then claimed a CPC government could avoid the recession. Then they borrowed billions from the next generation to soften the recession for this generation and spent additional millions advertising their "Action Plan". Now they are content to leave the next generation saddled with the results of their runaway spending. Well done Mr. Harper, great leadership. Tax and spend liberals...borrow and spend conservatives. Quote Link to comment Share on other sites More sharing options...
Boges Posted October 25, 2012 Report Share Posted October 25, 2012 While running against Dion, Harper claimed there would be no recession. Then claimed a CPC government could avoid the recession. Then they borrowed billions from the next generation to soften the recession for this generation and spent additional millions advertising their "Action Plan". Now they are content to leave the next generation saddled with the results of their runaway spending. Well done Mr. Harper, great leadership. Tax and spend liberals...borrow and spend conservatives. In the December statement that caused the attempted coalition coupe the CPC claimed they still could balance the budget with a small surplus. They also said they'd save money by removing the per vote subsidy to political parties. The outcry over trying to avoid employing Keynesian economics caused the prospect of a coalition taking power led by Stephane Dion. Harper realized there was no way he'd keep power unless he borrowed money to avoid an economic collapse. It would be disingenious for the CPC to claim full responsibility for the success of the Canadian Economic Action Plan. But they did win a majority two years later so their about face didn't hurt them. Quote Link to comment Share on other sites More sharing options...
Fletch 27 Posted October 25, 2012 Report Share Posted October 25, 2012 While running against Dion, Harper claimed there would be no recession. Then claimed a CPC government could avoid the recession. Then they borrowed billions from the next generation to soften the recession for this generation and spent additional millions advertising their "Action Plan". Now they are content to leave the next generation saddled with the results of their runaway spending. Well done Mr. Harper, great leadership. Tax and spend liberals...borrow and spend conservatives. I think your forgetting who forced the Borrowing.... The Alliance between the Liberals and your Financialy responsible NDP (With the ear-bl;owing ofthe PQ)... Quote Link to comment Share on other sites More sharing options...
PIK Posted October 25, 2012 Report Share Posted October 25, 2012 While running against Dion, Harper claimed there would be no recession. Then claimed a CPC government could avoid the recession. Then they borrowed billions from the next generation to soften the recession for this generation and spent additional millions advertising their "Action Plan". Now they are content to leave the next generation saddled with the results of their runaway spending. Well done Mr. Harper, great leadership. Tax and spend liberals...borrow and spend conservatives. Old news , nobody knew it was coming ,except for the corrupted bankers. They had the info what was coming down ,not goverments. Quote Link to comment Share on other sites More sharing options...
login Posted October 25, 2012 Report Share Posted October 25, 2012 (edited) Nobody knew what was coming. That's why governments of all parties in the country were and are running deficits. bs it is just negligence and irresponsibility. The solution is easy.. split the debt , give half to every canadian per capita with a "leaving canada tax" equal to anyone who bails a entering canada tax equal to the cost issued at time of original issue then dump the other half as a production and import tax, then cut income tax by 25%+ outright and kill the gst the people will pay when they have no choice the government wont the solution is simple, Edited October 25, 2012 by login Quote Link to comment Share on other sites More sharing options...
Fletch 27 Posted October 25, 2012 Report Share Posted October 25, 2012 On the part of the home-buyers... The Left would love to legislate your mortgage and where you live, who your neighbor should be and his color, size and weight... and what union he belongs to.. The blame can only be placed on the stupidity of thecitizens for the 2008.. bs it is just negligence and irresponsibility. Quote Link to comment Share on other sites More sharing options...
CPCFTW Posted October 25, 2012 Report Share Posted October 25, 2012 bs it is just negligence and irresponsibility. The solution is easy.. split the debt , give half to every canadian per capita with a "leaving canada tax" equal to anyone who bails a entering canada tax equal to the cost issued at time of original issue then dump the other half as a production and import tax, then cut income tax by 25%+ outright and kill the gst the people will pay when they have no choice the government wont the solution is simple, Oh hai Stalin Quote Link to comment Share on other sites More sharing options...
cybercoma Posted October 25, 2012 Report Share Posted October 25, 2012 Tax and spend liberals...borrow and spend conservatives. I won't hold my breath for criticism of the CPC by the forum conservatives. Quote Link to comment Share on other sites More sharing options...
cybercoma Posted October 25, 2012 Report Share Posted October 25, 2012 (edited) In any case, good for Harper. Now they just need to fix the government's fiscal capacity that they destroyed. You see. Start the fires, then as the election gets closer, put them out. Edited October 25, 2012 by cybercoma Quote Link to comment Share on other sites More sharing options...
login Posted October 25, 2012 Report Share Posted October 25, 2012 Oh hai Stalin HOW SO? Quote Link to comment Share on other sites More sharing options...
Mr.Canada Posted October 25, 2012 Report Share Posted October 25, 2012 I won't hold my breath for criticism of the CPC by the forum conservatives. I do criticize them a lot but I don't trust the NDP to run the nation so we're stuck with the Tories. Quote Link to comment Share on other sites More sharing options...
blueblood Posted October 26, 2012 Report Share Posted October 26, 2012 In any case, good for Harper. Now they just need to fix the government's fiscal capacity that they destroyed. You see. Start the fires, then as the election gets closer, put them out. What did they destroy, by cutting the public sector and attacking the deficit. The only fiscal capacity that's being destroyed is you and your I'll trying to put the kibosh on oil sands exports which would be a large boost to tax revenues and the economy. What's worse is the economy didn't need stimulating in the first place. Quote Link to comment Share on other sites More sharing options...
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