overthere Posted March 15, 2016 Report Share Posted March 15, 2016 (edited) http://www.bloomberg.com/news/articles/2016-03-15/trudeau-said-to-forgo-added-stimulus-with-c-30-billion-deficit But Harper. The good news is that Mr Trudeau will achieve this landmark without much infrastructure investment, other than the 'social infrastructure' spending like the hefty new Child Benefit program, a recurring annual cost. That additional spending is promised for later. Mr Trudeau was unavailable for comment, as he is in New York talking about the status of women with somebody at the UN. A C$30 billion deficit would be 1.5 percent of gross domestic product. That’s a swing of 1.4 percentage points, from an expected deficit of 0.1 percent of GDP in the current year. Since the end of World War II, there have been only four one-year expansionary fiscal swings of more than 1.4 percentage points of GDP. Edited March 15, 2016 by overthere Quote Link to comment Share on other sites More sharing options...
Smallc Posted March 15, 2016 Report Share Posted March 15, 2016 Hey, it's not $56B. Quote Link to comment Share on other sites More sharing options...
Smallc Posted March 15, 2016 Report Share Posted March 15, 2016 In case you didn't notice, every province save two are running deficits, and most countries have seen a big drop in their economic growth, Canada more than most. Quote Link to comment Share on other sites More sharing options...
overthere Posted March 16, 2016 Author Report Share Posted March 16, 2016 (edited) In case you didn't notice, every province save two are running deficits, and most countries have seen a big drop in their economic growth, Canada more than most. Well that certainly provides me with peace of mind. And just wait until we are in a recesssion. Edited March 16, 2016 by overthere Quote Link to comment Share on other sites More sharing options...
Smallc Posted March 16, 2016 Report Share Posted March 16, 2016 Well that certainly provides me with peace of mind. And just wait until we are in a recesssion. Your own article says that the Liberals are holding the line to their spending promises. The baseline is simply much worse than expected even 6 months ago. Quote Link to comment Share on other sites More sharing options...
SpankyMcFarland Posted March 16, 2016 Report Share Posted March 16, 2016 One word - oil. Quote Link to comment Share on other sites More sharing options...
Topaz Posted March 16, 2016 Report Share Posted March 16, 2016 We really won't know how bad or good the government's financial situation is until the next election and I'm sure they are aware of that point. Quote Link to comment Share on other sites More sharing options...
hitops Posted March 16, 2016 Report Share Posted March 16, 2016 Only 3 times what was predicted. Truly competent leadership. Quote Link to comment Share on other sites More sharing options...
PIK Posted March 16, 2016 Report Share Posted March 16, 2016 Is trudeau ever going to stay home and get to work. Quote Link to comment Share on other sites More sharing options...
Argus Posted March 16, 2016 Report Share Posted March 16, 2016 Hey, it's not $56B. You're moving further and further to the Left where the gassy air causes you to lose your memory as well as context. The united opposition demanded a huge economic incentive program or threatened to overthrow the government to put one in. And the recession was the worst in recent memory, which is a far cry from today's localized economic downturn. Quote Link to comment Share on other sites More sharing options...
Argus Posted March 16, 2016 Report Share Posted March 16, 2016 In case you didn't notice, every province save two are running deficits, and most countries have seen a big drop in their economic growth, Canada more than most. In case you haven't noticed, every province but two has a left wing government. Sayyyyyyy... could there be a coincidence there!? Quote Link to comment Share on other sites More sharing options...
Argus Posted March 16, 2016 Report Share Posted March 16, 2016 We really won't know how bad or good the government's financial situation is until the next election and I'm sure they are aware of that point. We won't ever know it until someone gets a look at how they're manipulating the books. They have a lot of Ontario Liberals there now and the Ontario Liberal party makes Enron seem like a financially honest organization. Quote Link to comment Share on other sites More sharing options...
Argus Posted March 16, 2016 Report Share Posted March 16, 2016 Your own article says that the Liberals are holding the line to their spending promises. The baseline is simply much worse than expected even 6 months ago. No, their doctored financial estimates are worse than they were six months ago. Quote Link to comment Share on other sites More sharing options...
Smallc Posted March 16, 2016 Report Share Posted March 16, 2016 In case you haven't noticed, every province but two has a left wing government. Sayyyyyyy... could there be a coincidence there!? I didn't know Saskatchewan had a left wing government. I didn't know Quebec had a right wing government. Quote Link to comment Share on other sites More sharing options...
Smallc Posted March 16, 2016 Report Share Posted March 16, 2016 No, their doctored financial estimates are worse than they were six months ago. Citation needed. Quote Link to comment Share on other sites More sharing options...
Smallc Posted March 16, 2016 Report Share Posted March 16, 2016 You're moving further and further to the Left where the gassy air causes you to lose your memory as well as context. The united opposition demanded a huge economic incentive program or threatened to overthrow the government to put one in. And the recession was the worst in recent memory, which is a far cry from today's localized economic downturn. That explains the post 2011 deficits. The reality is, every economist disagrees with you. Quote Link to comment Share on other sites More sharing options...
Argus Posted March 16, 2016 Report Share Posted March 16, 2016 I didn't know Saskatchewan had a left wing government. I didn't know Quebec had a right wing government. My mistake. I was looking at Saskatchewan's 2015 surplus. They do forecast a deficit this year, though all due to oil. But I'm certain they will soon be back in surplus. Quote Link to comment Share on other sites More sharing options...
Argus Posted March 16, 2016 Report Share Posted March 16, 2016 Citation needed. LOL. You know the Liberals are keeping the country's financial documents top secret, so of course, no one can get access to cite them. Quote Link to comment Share on other sites More sharing options...
Argus Posted March 16, 2016 Report Share Posted March 16, 2016 That explains the post 2011 deficits. The reality is, every economist disagrees with you. Really? Cite every economist disagreeing with me. Quote Link to comment Share on other sites More sharing options...
dre Posted March 16, 2016 Report Share Posted March 16, 2016 (edited) You're moving further and further to the Left where the gassy air causes you to lose your memory as well as context. The united opposition demanded a huge economic incentive program or threatened to overthrow the government to put one in. And the recession was the worst in recent memory, which is a far cry from today's localized economic downturn. Actually the current downturn is far from localized. The economy is a house of cards and has been since 2007. All governments put on a brave face and convey and try to articulate an optimistic vision to the public. But if you look at the actions taken by the government and the banks it becomes evident exactly how much trouble we are in. We are in a deep structural recession that the public has not felt because of dangerously low rock bottom interest rates that have kept consumer spending going by depleting savings.. much of it backed by home equity that is going to evaporate into the thin air in the coming years. And we have government action to keep inflating out housing bubble, and a central bank that has already shot its wad and has no big guns left to fire besides directly purchasing securities. We are headed for a period of economic easing, and deficits, regardless of who's in charge. In fact we are already in the thick of it, and government/central banking is desperately trying to keep the economy treading water by dumping massive amounts of borrowed money into it. The government likes to just talk about public debt, and claim they have balanced the federal budget. They count on the macro-economic illiteracy of the public making people dumb enough to buy it. But the reality is as a nation we have been running massive deficits for years, and they will continue into the future. There is fundamentally no difference between trying to stimulate the economy by selling bonds, and trying to stimulate the economy by setting extremely low interest rates. The result in both cases is debt held by the public. Edited March 16, 2016 by dre Quote Link to comment Share on other sites More sharing options...
cybercoma Posted March 16, 2016 Report Share Posted March 16, 2016 In case you haven't noticed, every province but two has a left wing government. Sayyyyyyy... could there be a coincidence there!?We could look at the dept of finance numbers on that but you won't like the results. They destroy your balanced budget Conservatives narrative. Quote Link to comment Share on other sites More sharing options...
Topaz Posted March 16, 2016 Report Share Posted March 16, 2016 Why do some of u go for the left vs the right? it just divides the country and it ends up on here, the moderator saying too many personal attacks, or too much trolling, I'm locking it up. Quote Link to comment Share on other sites More sharing options...
Smallc Posted March 16, 2016 Report Share Posted March 16, 2016 Really? Cite every economist disagreeing with me. They all (every one I've seen) talk about how the deficits are necessary for the short to medium term. The Bank of Canada has echoed that. Conservatives apparently don't read. Quote Link to comment Share on other sites More sharing options...
Smallc Posted March 16, 2016 Report Share Posted March 16, 2016 LOL. You know the Liberals are keeping the country's financial documents top secret, so of course, no one can get access to cite them. The Liberals haven't even released a budget. Quote Link to comment Share on other sites More sharing options...
dre Posted March 16, 2016 Report Share Posted March 16, 2016 We could look at the dept of finance numbers on that but you won't like the results. They destroy your balanced budget Conservatives narrative. Nobody with even a passing grasp of economics believes that anyways. The conservatives just accumulated a different kind of debt that's all. If the government wants to stimulate the economy with debt they can either LEND new money into the economy by setting very low interest rates, or they can SPEND new money into the economy by selling treasuries. If you lend money into the economy the debt is not listed on the governments balance sheet, and they can claim they "balanced the budget", and idiots will believe them. But in reality there's no difference at all. Aggressive rate policies and other incentives to borrow have created a massive mountain of private and household debt. The net result is that Canada as a nation has been running huge deficits for a number of years. And there's not sign of that changing soon. Quote Link to comment Share on other sites More sharing options...
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