Waiting for the Trudeau Jnr 40 billion deficit

[Smallc]

How do you feel that Trudeau will have racked up a larger deficit in 4 years

There's actually no evidence, especially adjusted for inflation and constant dollars, that the Harper deficits will be surpassed by Trudeau.

while not facing a market meltdown than Harper did in almost ten years

Harper faced very little strife in the Canadian economy, save for a few months in 2009. Oil has had at least as much of an impact.

Why is Canada's unemployment numbers continuing to climb

You don't actually think that Trudeau has been in power long enough to have much if any impact on that, do you?

Is the 30 - 40 billion dollar deficit no stimulating the economy

No - there hasn't been one yet. There hasn't even been a budget.

[Cl Le]

There's actually no evidence, especially adjusted for inflation and constant dollars, that the Harper deficits will be surpassed by Trudeau.

Harper faced very little strife in the Canadian economy, save for a few months in 2009. Oil has had at least as much of an impact.

You don't actually think that Trudeau has been in power long enough to have much if any impact on that, do you?

No - there hasn't been one yet. There hasn't even been a budget.

Harper and the Conservatives faced the worst economic downturn since the great depression , you have lost all credibility on that one statement alone. FYI Jim Flaherty was voted best finance minister in the world , any chance Bill Morneau can win such an award while racking up 30 -40 billion dollar deficits while unemployment rises and we are not in recession ?

[Smallc]

Harper and the Conservatives faced the worst economic downturn since the great depression , you have lost all credibility on that one statement alone.

Canada was not affected as badly as other countries. The 1980s actually saw a lager GDP contraction for Canada. Canada has been suffering worse than during the 2001 recession:

http://www.macleans.ca/economy/economicanalysis/fear-and-loathing-in-the-canadian-economy/

Jim Flaherty was voted best finance minister in the world , any chance Bill Morneau can win such an award while racking up 30 -40 billion dollar deficits while unemployment rises and we are not in recession ?

Jim Flaherty was voted the best while running a deficit larger than that about to be delivered by Morneau...so...maybe?

Edited March 20, 2016 by Smallc

[Cl Le]

Canadians saw the net benefits of the Conservatives spending and investing , with the Liberals at the helm unemployment continues to rise and consumer confidence continues to slip . Canada and Germany outperformed all other G8 countries , job well done Conservatives .

[Smallc]

Canadians saw the net benefits of the Conservatives spending and investing

Yes.

with the Liberals at the helm unemployment continues to rise and consumer confidence continues to slip

There hasn't even been a budget. That's like complaining about how the car you haven't bought always breaks down.

Canada and Germany outperformed all other G8 countries , job well done Conservatives .

And starting in Harper's last year in power, that changed - because of oil. That's reality.

[Argus]

Ontario's deficit for the current year is $5.7B.

And you know this how?

What will it be next year?

[Argus]

Canadians saw the net benefits of the Conservatives spending and investing ,

They did? What was that net benefit?

A Fraser Institute study in 2010 concluded the entire stimulus package added just 0.2 percentage points to the 1.1-per-cent growth that was achieved in the second and third quarters of 2009

http://business.financialpost.com/news/economy/why-trudeaus-infrastructure-plan-may-not-be-a-quick-and-easy-fix-for-the-economy-after-all

Edited March 20, 2016 by Argus

[Argus]

Harper faced very little strife in the Canadian economy, save for a few months in 2009. Oil has had at least as much of an impact.

That's absolute nonsense. Canada faced a disappearing manufacturing sector due to American demand slowing so much, and the exporting of jobs to cheaper labour countries. It also faced an extremely shaky financial sector, an auto industry about to go under, and a shrinking demand for our commodities, other than oil, again due to a world slowdown.

[Cl Le]

That's absolute nonsense. Canada faced a disappearing manufacturing sector due to American demand slowing so much, and the exporting of jobs to cheaper labour countries. It also faced an extremely shaky financial sector, an auto industry about to go under, and a shrinking demand for our commodities, other than oil, again due to a world slowdown.

Liberals are delusional and will say and do anything if it means they can continue to vote Liberal with a clear conscious . All they have to do is look at Ontario and what a financial mess it is , look at the start of this Liberal Trudeau government and connect the dots . " It's not so much that our Liberal friends are ignorant , it's just they know so much that isn't so. " Ronald Reagan

[Smallc]

And you know this how?

Budget figure estimates for the current fiscal year.

[Smallc]

That's absolute nonsense. Canada faced a disappearing manufacturing sector due to American demand slowing so much

GDP suffered a sharp dip and a quick recovery in Canada. Last year, GDP had a small dip, and a slower recovery. It works out to a very similar situation when it comes to the budget.

[Argus]

Budget figure estimates for the current fiscal year.

And those include all spending and borrowing, right?

[Smallc]

And those include all spending and borrowing, right?

As I understand, they follow GAAP. Some people have a very narrow view of what spending and borrowing are. Letting your responsibilities pile up is just as expensive, if not more so.

[Cl Le]

As I understand, they follow GAAP. Some people have a very narrow view of what spending and borrowing are. Letting your responsibilities pile up is just as expensive, if not more so.

The Liberals have destroyed Ontario , those are the facts . Debt per person provincially in Ontario 2008 / 09 was $12, 270 . Today that person owes 21, 629 dollars for their share of provincial debt because of Liberal incompetence . If BC , Alberta and Saskatchewan combined our debt each person would owe half that. Ontario and Quebec are Liberal havens for incompetent politicians and someday their children will inherit this mess , lets hope they are smarter than their parents where .

[Argus]

As I understand, they follow GAAP. Some people have a very narrow view of what spending and borrowing are. Letting your responsibilities pile up is just as expensive, if not more so.

Again, this is nonsense. Private entities engage in capital spending to produce income. That's why they get to write that spending off. The government does not engage in capital spending that produces income. It is using deceptive accounting to hide the true size of its deficit. Last year it claimed the deficit as $12.5 billion, but it added $20 billion to the debt. It will borrow over $23 billion in the next three years which it will add to the debt but not report to the public. The federal government does not engage in such deceptive reporting - or it didn't.

[August1991]

$30 billion, $40 billion? Who cares! It's just numbers.

=====

The next number of Leftists: government debt to GDP ratio.

I fear that Leftism is a Ponzi scheme. "Trust the State. It will take care of you!"

Edited March 24, 2016 by August1991

[Cl Le]

$30 billion, $40 billion? Who cares! It's just numbers.

=====

The next number of Leftists: government debt to GDP ratio.

I fear that Leftism is a Ponzi scheme. "Trust the State. It will take care of you!"

I guess if we step back and look at the situation it could of been worse. We have a P/T drama teacher who happens to be a Trust fund kid that has never balanced a cheque book let alone a G8 economy so the fact he killed us with a 29.4 billion dollar deficit seems reasonable to me . Liberal = lowered expectations

[eyeball]

$30 billion, $40 billion? Who cares! It's just numbers.

=====

The next number of Leftists: government debt to GDP ratio.

I fear that Leftism is a Ponzi scheme. "Trust the State. It will take care of you!"

Round them up August. It's really simple. The blood and brutality will pass and your children will thank you for it.

[August1991]

Round them up August. It's really simple. The blood and brutality will pass and your children will thank you for it.

WTF?

Trudeau Jnr is about to piss my money away - and I'll have less to leave to my kids.

======

I started this thread out of frustration. I have very often argued here that government deficits don't matter. Government spending matters. There's a difference but sadly few people understand the distinction.

Leftists (advisors to Trudeau Jnr) now refer to the debt-to-GDP ratio.

The question is not how a government receives money; the question is how a government spends money.

======

Message to Trudeau Jnr: "How are you spending my money? The same way you spent the money you inherited from your father?"

====

Stephen Harper was tight, and careful with his money and other people's money. Trudeau Jnr is a spendthrift.

Edited March 26, 2016 by August1991

[eyeball]

WTF?

Stephen Harper was tight, and careful with his money and other people's money. Trudeau Jnr is a spendthrift.

Yes but more importantly, he's a lefty - aren't lefties the bigger bane of your existence? It sure seems like it the way you keep going on and on and on about them.

When are you people finally going to stop seducing the canine and do something about them? I mean, the west has spent trillions of dollars and killed millions to stop socialism anywhere else it reared it head, how come Canadians get such a free pass? WTF indeed.

Edited March 26, 2016 by eyeball

[Smallc]

So many times the same person that's now worried about money being pissed away said that deficits don't matter.

[dre]

Again, this is nonsense. Private entities engage in capital spending to produce income.

That's not true. Of the nearly one trillion dollars the Harper government added to our debt 700+ was private debt. More than half of that was spent into our real estate market... people buying homes to live in. A huge amount of what remains was spent on things like cars, big screen TV's, and all kinds of non durables.

In many cases stimulus through the credit market gets a misdirected first spend, and it also accrues a lot more interest than if the government had borrowed that money directly. The nice thing about it of course is that all the money gets spent, making it effective short term stimulus. People generally don't borrow money then sit on it, and most of the money introduced through the credit market is created at the time of purchase.

[dre]

So many times the same person that's now worried about money being pissed away said that deficits don't matter.

That's because partisans are liars. The same energy and zeal that goes into attacking a policy by the "other" party will go into excusing the exact same policy by "their" party. And lots of times they don't even realize their own hypocrisy.

[Argus]

That's not true. Of the nearly one trillion dollars the Harper government added to our debt

I have no idea what you're talking about, but your figures are ludicrous unless you're blaming Harper for every dollar anyone borrowed by anyone over the course of his tenure, and in any event, do not address anything I said.

Edited March 26, 2016 by Argus

[alexmac]

Okay I have been warned to be respectful to our PM and not call him junior. Having said that I must point out that as a business owner we do not support any party. We are in the solar business which will not get any help but our taxes will increase now before any Liberal flies off please read the budget as I would hate to embarrass in front of everyone. The environmental plan they came out with is a joke. Yes they have only been in power for 6 months but unless you were extremely ignorant you would already know the problems and I will point to their platform during the election and what they were saying in Paris which amounted to nothing in my opinion. A close look at this budget and you will see there is nothing here other than a tax on carbon period. That tax will go into general revenue then , like the cash cow EI , it will be spent on helping various party contributors just like they did in past years.

Action is change not warm, fuzzy and very general words. We are still waiting for a reply from our MP as well as the Minister of Environment for the last 2 months in which we asked for an explanation on the green technology position , not tough or hard but we need clarity as to what is planned so we can prepare and inform customers on changes , if any. Silence. Even the Conservatives answered our letters , not saying we agreed with them but at least they wrote back.

Right now we are at a tipping point and whether you believe climate change or not there is a change coming just the very sad part is that it will not be coming from our federal government who has chosen to lead from behind.