5 Billion added to deficit

[Argus]

That guy is less a cause I'd those deficits than Harper is of these.

Is he? I wonder. The same financial people who helped screw up in 2008 are still working for him, and he took tons of donations from Wall Street.

He also totally, and I mean TOTALLY screwed up their incentive program by giving it to the congressional democrats as a big fat sow to carve up for everyone's pet pork projects.

[The_Squid]

I thought all the tax cuts were supposed to increase revenue.

"Lower taxes make our economy stronger and create good, long-term jobs. What's more, corporate tax revenues will, as noted (in) Budget 2012, increase by over 30 per cent between 2010-11 and 2016-17, even though we have reduced business taxes to 15 per cent. - Flaherty's director of communications, Chisholm Pothier

This is a load of bunk.

Edited November 14, 2012 by The_Squid

[Smallc]

Actually, corporate tax revenues are increasing.

[The_Squid]

Dp

Edited November 14, 2012 by The_Squid

[The_Squid]

Actually, corporate tax revenues are increasing.

Due to natural resource sector, not due to tax cuts. We would be even better off had they kept the same tax rate.

http://www.citytv.com/toronto/citynews/news/national/article/200694

Economist Jack Mintz, a respected expert on tax policy, said his research and others suggests that to maximize revenues, the effective corporate income tax rate should be somewhere between 26 and 28 per cent. With provincial rates included, it is at about 27 per cent today in Canada.

He argues that, discounting fluctuations for both booms and busts in the economy, corporate taxes as a share of the economy have not fallen or risen appreciably since 2000, even though the combined federal-provincial corporate rate was cut from 43 per cent to 27 per cent during the period.

[Smallc]

Due to natural resource sector, not due to tax cuts. We would be even better off had they kept the same tax rate.

You can't really say that. You can only look at it and say that they are increasing.

[CPCFTW]

I thought all the tax cuts were supposed to increase revenue.

"Lower taxes make our economy stronger and create good, long-term jobs. What's more, corporate tax revenues will, as noted (in) Budget 2012, increase by over 30 per cent between 2010-11 and 2016-17, even though we have reduced business taxes to 15 per cent. - Flaherty's director of communications, Chisholm Pothier

This is a load of bunk.

Revenues have increased.. Just not as much as previously budgeted. Yes your post is quite a load of bunk.

[Topaz]

Today, the National Post has its view of the deficit and it not favourable towards the government but then that's what we get when one has a lawyer instead of a financial wizard as Finance minister. http://opinion.financialpost.com/2012/11/13/terence-corcoran-on-track-for-more-deficits/

[PIK]

I would like to see the numbers on the last debt. I am over 50 and when the libs were in all those years and the PC's , we had a smaller debt, did we not? But yet it seemed to take for ever to get it paid down which chretien did by raping the UI fund and PS pension fund and whatever else, So my understanding from what I heard here, this is the biggest debt we ever had , but one that (even with a blip or 2) will be paid off in a very short time. What am I missing here? The question is why did it take decades it seemed to pay off the smaller one,but just a years to do the so called bigger one?

[Smallc]

Okay, first Topaz, that's an opinion peace. It's much like your 'article' in the thread about Bengazi, which is actually from a conspiracy blog. You need to learn the difference between news, opinion, and nutjob.

Second, PIK, I don't really know what you're rambling on about. The Liberals under Chretien balanced the budget, but they did not put all that much into paying down the debt (about $3B a year). Instead they spent the surpluses on needed programs (and unneeded ones too). The Conservatives spent every surplus in paying down debt. It has nothing to do with EI which wasn't technically robbed. As to the size of the deficit, the deficits now are larger in total dollars than in the past for the most part, but adjusted for inflation and the difference in the size of the economy, they are now quite small. Canada has not ever and probably will never pay off its total debt.

[PIK]

Okay, first Topaz, that's an opinion peace. It's much like your 'article' in the thread about Bengazi, which is actually from a conspiracy blog. You need to learn the difference between news, opinion, and nutjob.

Second, PIK, I don't really know what you're rambling on about. The Liberals under Chretien balanced the budget, but they did not put all that much into paying down the debt (about $3B a year). Instead they spent the surpluses on needed programs (and unneeded ones too). The Conservatives spent every surplus in paying down debt. It has nothing to do with EI which wasn't technically robbed. As to the size of the deficit, the deficits now are larger in total dollars than in the past for the most part, but adjusted for inflation and the difference in the size of the economy, they are now quite small. Canada has not ever and probably will never pay off its total debt.

My mistake using wrong words. The deficit I guess I mean, what was it when chretien took over and how long did it take to pay that one off, compared to how big this one is and how long it takes to pay it off.Ithink that is what I am getting at lol

[Smallc]

It was $42B when Chretien took over. It was gone in less than 3 years after they promised it would be gone. They were the largest cuts in Canadian history....yet no Conservatives want to give him credit for it.

[nittanylionstorm07]

But wait... I thought Conservatives were the party of fiscal prudency, and the NDP the spend into debt party?

This can't be right.

[login]

They are pissing around. Its not their money to spend so they are being irresponsible with the futures of Canadians.

Just knife the stuff, stop wasting time.

There is too much junk program spending going on, too many staff for delivery needs, and too much waste and excess in the elitists on the hill. They should pay from their bank accounts first and see how the rationality changes.

Edited November 15, 2012 by login

[Smallc]

Has Europe or the USA done worst than expected this year?

LONDON -- The 17-country eurozone has fallen back into recession for the first time in three years as the fallout from the region's financial crisis was felt from Amsterdam to Athens.

Read more:

http://www.ctvnews.ca/world/official-figures-show-eurozone-is-back-in-recession-1.1039070#ixzz2CJD3CRvH

Edited November 15, 2012 by Smallc

[Moonbox]

It was $42B when Chretien took over. It was gone in less than 3 years after they promised it would be gone. They were the largest cuts in Canadian history....yet no Conservatives want to give him credit for it.

They were draconian cuts, and they were done on the back of the provinces. Just as the Conservatives won't give him credit for that, the left likes to forget that it was Chretien, not Harper, who reduced the provinces' fiscal capabilities and stressed their budgets. Somehow, this translated into the Liberals being champions of health care etc.

It's funny, isn't it?

[Smallc]

They were draconian cuts, and they were done on the back of the provinces.

That's a Conservative talking point and nothing more. The entire federal expenditure sheet was cut, except for OAS and one other thing that I can't remember. The military, transport, security, transfers, and other direct expenditures were all cut. The reality is, you have to cut somewhere, and the Liberals cut everywhere, because in comparison to right now, the deficit was massive.

[PIK]

That's a Conservative talking point and nothing more. The entire federal expenditure sheet was cut, except for OAS and one other thing that I can't remember. The military, transport, security, transfers, and other direct expenditures were all cut. The reality is, you have to cut somewhere, and the Liberals cut everywhere, because in comparison to right now, the deficit was massive.

Did they cut the size of goverment? Did they cut their own pensions? Did they spend any thing on our infrastructure? Did they fix chalk river, did they spend money to help keep our soldier safe in chretien's afghan war? There was alot that harper had to do once he was in office and did chretien have the USA ready to commit economic suicide and the EU problems? The world was very different place for the chretien gov.

[Smallc]

Did they cut the size of goverment?

Yes, quite substantially. What was it, 50K positions?

Did they cut their own pensions?

I have no idea, but that would be nothing but a token amount.

Did they spend any thing on our infrastructure?

Yes, but much less, because like I said, they cut everywhere. Also, if we want to be technical, most infrastructure in Canada is not a federal respnsibility as outlined in the Constitution Act, 1867.

Did they fix chalk river,

They...tried.

did they spend money to help keep our soldier safe in chretien's afghan war?

Actually, Chretien didn't commit us to the real war effort the way that Martin and Harper did (we only had 600 people there until 2003, and not the 300 - 3500 we had there later until well into 2004 - 2005). After 2001 military spending increased under Chretien, increased substantially under Martin, and increased again under Harper. It's now falling...under Harper...and I don't like that.

There was alot that harper had to do once he was in office and did chretien have the USA ready to commit economic suicide and the EU problems?

No he didn't but you play the hand you've been dealt, don't you?

The world was very different place for the chretien gov.

And overall, they handled it quite well.

[PIK]

Yes, quite substantially. What was it, 50K positions?

I have no idea, but that would be nothing but a token amount.

Yes, but much less, because like I said, they cut everywhere. Also, if we want to be technical, most infrastructure in Canada is not a federal respnsibility as outlined in the Constitution Act, 1867.

They...tried.

Actually, Chretien didn't commit us to the real war effort the way that Martin and Harper did (we only had 600 people there until 2003, and not the 300 - 3500 we had there later until well into 2004 - 2005). After 2001 military spending increased under Chretien, increased substantially under Martin, and increased again under Harper. It's now falling...under Harper...and I don't like that.

No he didn't but you play the hand you've been dealt, don't you?

And overall, they handled it quite well.

Of course thay handled it well, things were pretty quiet back then, you can also so say harper has handled it well since he has to deal with a world falling a part. When you look at it, the lib goverment has a pretty easy time compared to today.

[Smallc]

you can also so say harper has handled it well since he has to deal with a world falling a part.

Something I've said many times. Believe it or not, I can praise Chretien and Harper at the same time.

[Topaz]

Ok, let 's see what this Conservative is doing and I'll need help with this one from others here., They have changed EI and is/are created a fund and I think its 2 Billion to start but If I'm right the EI is in the red? They had to increase EI premuims and I wouldn't be surprise if they do it again down the road. They can't make the deificit go away until 2017 but then they may go away in 2015. They have change OAS from 65 to 67 for no good reason. The bridge to Windsor-Detroit, will cost Canadians 500million+ and we are suppose to get that back through tolls, which they can't really guanatee we will, but its part of the North-American Superhighway. There's the the cost to the military equipment, billions and where are they going to get it from down the road? The Tories say now they have have created 800,000 jobs.since 2009. In 2008 we lost 400,000 but we did get those 400,000 back in 2009 from the auto sector, so the other 400,000 jobs are partly part time low paying jobs, full time jobs out West and the foreign workers.

[Smallc]

Ok, let 's see what this Conservative is doing and I'll need help with this one from others here., They have changed EI and is/are created a fund and I think its 2 Billion to start but If I'm right the EI is in the red?

Yes, because the government has artificially limited the increase in EI premiums to spare businesses the extra cost.

They had to increase EI premuims and I wouldn't be surprise if they do it again down the road.

If they want EI to come back to balance overall, they will have to do that yes, but that isn't their fault.

They can't make the deificit go away until 2017 but then they may go away in 2015.

Or the deficit could go earlier...or later. It all depends on the economy, which is mostly outside of the government's control.

They have change OAS from 65 to 67 for no good reason.

People live longer. People need to be working longer.

The bridge to Windsor-Detroit, will cost Canadians 500million+ and we are suppose to get that back through tolls, which they can't really guanatee we will, but its part of the North-American Superhighway.

We can pretty much guarantee that, yes. The much less busy Coquihalla Freeway was totally paid for with tolls....and cut the NWO crap.

There's the the cost to the military equipment, billions and where are they going to get it from down the road?

The same place they do now...the DND budget.

The Tories say now they have have created 800,000 jobs.since 2009. In 2008 we lost 400,000 but we did get those 400,000 back in 2009 from the auto sector, so the other 400,000 jobs are partly part time low paying jobs, full time jobs out West and the foreign workers.

Or you could be just wrong.

[PIK]

Something I've said many times. Believe it or not, I can praise Chretien and Harper at the same time.

Yes you are right, I do rip chretien to much. But I can't help it. lol

[Merlin]

While it's correct to question the government, I doubt many people on this board are qualified to read a budget and see where its flaws are. Sometimes we need to trust our governments to do the right thing and hope they do. If they do not we can all vote them out next election which thankfully isn't for a long time. I was tired of the constant elections.