Federal Budget 2015

[Smallc]

Ah desperation sets in. We all know if this was a left wing government you'd be sharpening the knives. The unfortunate fact for conservativesis that they've spent 10 miserable years in power bleating on and on about the dangers of deficits and how they're the only ones capable of balancing the budget. I think only the kool-aid drinkers are going to let them walk away from that.

Actually I'd probably be defending a left wing government the same way, as they all govern approximately the same. Edited July 23, 2015 by Smallc

[Smallc]

With Canada's economy in disarray and getting worse, with legions of Conservatives under investigation , in jail or otherwise not available, the final assignation must be the fact that Harper has never had a balanced or surplus budget. This final factor might be Conservative's undoing.

Never had one? Better check on that.

[Argus]

You're saying that modest deficits are OK sometimes, given that economies fluctuate, and that a perfectly balanced budget is a foolish thing to obsess over? I agree. Can we expect Conservative (and other) leaders to start saying this?

Nope. And don't expect the Libs or NDP to fully cost all their promises or explain how they intend to pay for them either.

[Argus]

In fact, fanatically eliminating the budget deficit with no regard to the social cost, like the Liberals did in the 90s, is unconscionable imo. No progressive should advocate this. The Opposition should take MORE credit for forcing the government to borrow and implement stimulus measures during the 08/09 recession, even if it led to a deficit.

Are you, perhaps, of Greek heritage?

[Argus]

With Canada's economy in disarray and getting worse,

Canada's economy is not in disarray. Unemployment remains fairly low and outside of the lowered exports and economic activity caused by drops in world commodity and oil prices, we're doing fine. With a lowered dollar we should see a spur to manufacturing, though that will be hard in Ontario due to the enormous (and rising) cost of green energy.

with legions of Conservatives under investigation , in jail or otherwise not available,

As far as I'm aware one guy got a month for overspending his own money. Have there been other jail sentences I'm forgetting?

the final assignation must be the fact that Harper has never had a balanced or surplus budget.

According to the CBC Harper ran surpluses in 2006 and 2007. Then came 2008 and the great financial crisis...

Pierre Trudeau ran deficits in 14 of 15 years, with the one surplus being a fractional amount. I bet you'd never vote for HIM, eh?

http://www.cbc.ca/news2/interactives/canada-deficit/

[Argus]

1) The Harper government will have a $1 billion deficit this year.

Maybe, unless he orders further cuts, which is certainly possible.

2) What kind of a businessman puts all his eggs in one basket? Harper's reliance on the oil industry is bad management.

Most businessmen, actually, since they tend to have all their products in a single industry.

And it isn't up to Harper to decide what our industries are. Nor are all our 'eggs' in one basket. Unfortunately, we're an exporting nation, and most of our exports are natural resources. Given the economic issues being experienced by Europe and Asia particularly China, that's meant an oversupply of commodities the last couple of years, particularly iron, copper, nickel, etc. Gold and silver have recently fallen heavily too, and now so has oil But none of this is the fault of the federal government and no other government could have done anything differently.

Trying to build up a big manufacturing base? Kind of hard given it's much cheaper in almost every respect to manufacture things elsewhere. Not only are our wages much higher than Mexico or China, but we have a ton of bureaucracy to ensure workers safety, product safety, and environmental safety. We also have much higher taxes. And now, in Ontario, which used to be the manufacturing centre of Canada, we have north America's highest energy rates, double that of many US states, rates which continue to rise way above inflation, even without a new cap and trade or carbon tax the Ontario tories are determined to impose. Then there's the new provincial pension scheme which will cost companies even more...

Edited July 23, 2015 by Argus

[Evening Star]

Are you, perhaps, of Greek heritage?

Hm? What I said was really not so different from what you were saying wrt deficits being acceptable during an economic downturn. Greece's situation, any way you slice it, is not the result of moderate Keynesian stimulus spending during recessions, which is what I was advocating. I was not advocating running large deficits year after year that are beyond the government's fiscal capacity to ever repay, nor was I advocating such a 'relaxed' approach to tax collection,

[marcus]

Maybe, unless he orders further cuts, which is certainly possible.

The Harper government has had a deficit almost every year he has been in power. Which has been for a long while. Why is he considered to be good at managing the economy?

The Harper government has been one of the most profligate spenders in Canadian history, ramping up spending by 30% since 2006, adding upwards of $160-billion to the national debt, and beggaring Canadians by an additional $5,000 each.

Link

Most businessmen, actually, since they tend to have all their products in a single industry.

And it isn't up to Harper to decide what our industries are. Nor are all our 'eggs' in one basket. Unfortunately, we're an exporting nation, and most of our exports are natural resources. Given the economic issues being experienced by Europe and Asia particularly China, that's meant an oversupply of commodities the last couple of years, particularly iron, copper, nickel, etc. Gold and silver have recently fallen heavily too, and now so has oil But none of this is the fault of the federal government and no other government could have done anything differently.

What are you talking about? Diversity is good business. Not putting all investment into one sector. It is the role of the government to do their job to nurture different industries and not just one.

Harper's focus has been the oil industry since he came to power. He has increased our reliance to oil. This is bad economic management. While other countries are investing more in renewable energy, the high-tech industry and removing the red tapes for doing business with the rest of the world, all we've done is oil oil oil. It's been all about oil for him. Removing any red tape so that the oil industry could grow. Is he Canada's prime minister or is he here to represent the oil industry only?

Here is a sobering thought: Under Harper, Canada's growth rate has been at 1.4%. That's terrible!

Canada, under the socialist/communist Prime Minister, Pierrre Trudeau, Canada's growth rate was at 3.5%. This despite Trudeau having gone through two oil shocks in 1973 and 1979.

These are embarrassing numbers for a Prime Minister who tries to sell himself as the guy who can manage our economy better than others. His economic record has been dreadful.

It's time that people look through facade and accept reality.

[Smallc]

You seem to think that Canada exists in a vaccuum. The world has been doing badly most years Harper has been in power. Probably his fault too.

[cybercoma]

You seem to think that Canada exists in a vaccuum. The world has been doing badly most years Harper has been in power. Probably his fault too.

I guess falling to the bottom of the G7 means nothing to you then.

[Argus]

The Harper government has had a deficit almost every year he has been in power.

Ever since the financial crisis, you mean? Funny how a huge world economic crisis can do that...

What are you talking about? Diversity is good business. Not putting all investment into one sector. It is the role of the government to do their job to

nurture different industries and not just one.

What makes you think the government hasn't done its best to nurture different industries? Again, it's hardly the government's fault the recession caused a big slowdown in orders for our products. It's not the governments' fault that China and Mexico can make things at a fraction of the cost it takes to make them in Canada either.

Harper's focus has been the oil industry since he came to power.

No, it really hasn't been. Not that he hasn't done his best by them, but he certainly hasn't stinted any other industry I'm aware of.

He has increased our reliance to oil.

Really? How?

Here is a sobering thought: Under Harper, Canada's growth rate has been at 1.4%. That's terrible!

Canada, under the socialist/communist Prime Minister, Pierrre Trudeau, Canada's growth rate was at 3.5%. This despite Trudeau having gone

through two oil shocks in 1973 and 1979.

That was a different world. I might point out that Trudeau quadrupled spending, and that Canada didn't face competition from dirt cheap countries like Mexico, India and China for not just manufactured goods but services, as well. Nobody was offshoring help desk operators much less software engineers.

These are embarrassing numbers for a Prime Minister who tries to sell himself as the guy who can manage our economy better than others. His economic record has been dreadful.

Compared to whom? Given the world has been in a deep recession since 2008, which other world leader do you think did a better job of maneuvering his country through things? Seems to me that just about everyone had a much worse ride than we did.

[Smallc]

I guess falling to the bottom of the G7 means nothing to you then.

We have a different economy than them, and for the most part they are simply catching up. Australia, with similar industries, isn't doing so well either.