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ezbeatz





Joined: 09 Oct 2008
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Location: Vaughan, ON

PostPosted: Fri Dec 19, 2008 12:59 am    Post subject: $30 Billion deficit next year Reply with quote

http://www.ctv.ca/servlet/Arti.....TopStories

So, PM Harper plans on running a $20-30 billion deficit next year alone. Apparently, this is what's included in the budget.

Quote:
According to Harper, key measures in the budget will include:
* More than $6 billion for infrastructure, which doubles the previous year's spending
* Major funding for public housing and for home renovations, which is intended to stimulate the construction industry
* Tax breaks so consumers will spend more money
* Billions of dollars for the Employment Insurance program

Harper added the government will also bolster training programs so unemployed workers can retool their skills and find jobs in different sectors.

The Conservatives also plan to pump money into sectors like aerospace, mining and the forestry industry, which has been battered by falling global demand for products like newsprint.


Your thoughts on this deficit?

p.s. at least there are tax cuts. Sounds like the GST will get the axe again.
Craig
Site Admin




Joined: 29 Aug 2006
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votes: 36

PostPosted: Fri Dec 19, 2008 1:02 am    Post subject: Reply with quote

Not impressed. I wouldn't mind so much if Harper hadn't increased spending so much in the previous years. I'll buy into this Keynsian theory if only politicians would learn to contain themselves during the boom times.
Darth Vader





Joined: 05 Dec 2008
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PostPosted: Fri Dec 19, 2008 1:12 am    Post subject: Reply with quote

Remember our combat role in Afganistan is ending soon so that will ease the defence budget.

I don't like to see a deficit but I don't know what choice in the short term we have. Personaly I would rather let the economy take its course and not have any government intervention of any form. Messing around only prolongs the misery.
Cool Blue





Joined: 21 Sep 2006
Posts: 3130
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votes: 10
Location: Ontario

PostPosted: Fri Dec 19, 2008 6:15 am    Post subject: Reply with quote

WTF?!

Don't touch EI! There are already too many incentives not to work!
Big Tuna





Joined: 28 Nov 2007
Posts: 368
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votes: 6

PostPosted: Fri Dec 19, 2008 7:45 am    Post subject: Reply with quote

Cool Blue wrote:
WTF?!

Don't touch EI! There are already too many incentives not to work!


All these jobs lost over the past few months, with more to come... these workers are going to find a job the next day?
Big Tuna





Joined: 28 Nov 2007
Posts: 368
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votes: 6

PostPosted: Fri Dec 19, 2008 7:46 am    Post subject: Reply with quote

Craig wrote:
Not impressed. I wouldn't mind so much if Harper hadn't increased spending so much in the previous years. I'll buy into this Keynsian theory if only politicians would learn to contain themselves during the boom times.


Agreed.

I also not a fan of cutting the GST further. I can't see a small cut to the GST stimulating the economy enough to make up for the large hit to the government coffers.
optimus2861





Joined: 23 Mar 2008
Posts: 138
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PostPosted: Fri Dec 19, 2008 9:26 am    Post subject: Reply with quote

Socialist trash, that's what I think.

If this really comes down as the budget, my shredded CPC membership card will be in the mail to party HQ.
cuzzin_elias





Joined: 04 Dec 2008
Posts: 114
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votes: 4
Location: People b4 Profit

PostPosted: Fri Dec 19, 2008 10:32 am    Post subject: Reply with quote

optimus2861 wrote:


If this really comes down as the budget, my shredded CPC membership card will be in the mail to party HQ.


lol nice... glad to see not everyone subscribes to the harper cult of personality
Rusty Bedsprings





Joined: 06 Dec 2008
Posts: 1629

votes: 5

PostPosted: Fri Dec 19, 2008 12:41 pm    Post subject: Reply with quote

Quote:
optimus2861 wrote:


If this really comes down as the budget, my shredded CPC membership card will be in the mail to party HQ.


No don't blame the tory's for the deficet because Harper was not planning this huge spending spree untill the coilition pressured him into it.
Jeff





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Location: Halifax, Nova Scotia

PostPosted: Fri Dec 19, 2008 12:43 pm    Post subject: Reply with quote

He wanted to hold on power so badly that when the coalition stood their ground he blinked.

He really should have let them have it if they really wanted to go that route.
Big Tuna





Joined: 28 Nov 2007
Posts: 368
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votes: 6

PostPosted: Fri Dec 19, 2008 12:47 pm    Post subject: Reply with quote

Rusty Bedsprings wrote:
Quote:
optimus2861 wrote:


If this really comes down as the budget, my shredded CPC membership card will be in the mail to party HQ.


No don't blame the tory's for the deficet because Harper was not planning this huge spending spree untill the coilition pressured him into it.


So who pressured him into the huge spending spree for the past two years? :D
Rusty Bedsprings





Joined: 06 Dec 2008
Posts: 1629

votes: 5

PostPosted: Fri Dec 19, 2008 12:50 pm    Post subject: Reply with quote

The coilition is terrible for this country in or out of power. I say the tory's should be a bit more liberal (spending spree's ect.) just to keep this coilition (that the devil had a hand in) out of power.
SFrank85





Joined: 03 Mar 2007
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Location: Toronto - Scarborough Southwest

PostPosted: Fri Dec 19, 2008 12:55 pm    Post subject: Reply with quote

This is disgusting. However EI has to be reformed. People pay into it; they should be able to take it out when they need it. This auto bailout is horrible. The government should be focusing on re-training programs.

I am seriously thinking about revoking my membership as well. No party wants to do what is best for Canada. There was no excuse increasing government spending the past three budgets, clearly this deficit would not have been as high if the Tories took the initiative and made some program cuts in the 2006, 2007, and 2008 budget, but instead they played politics and catered to voting blocks. They have been no better on this than the Liberals.
Habsrwfan





Joined: 04 Oct 2008
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PostPosted: Sun Dec 21, 2008 12:23 am    Post subject: Re: $30 Billion deficit next year Reply with quote

ezbeatz wrote:
http://www.ctv.ca/servlet/Arti.....TopStories

So, PM Harper plans on running a $20-30 billion deficit next year alone. Apparently, this is what's included in the budget.

Quote:
According to Harper, key measures in the budget will include:
* More than $6 billion for infrastructure, which doubles the previous year's spending
* Major funding for public housing and for home renovations, which is intended to stimulate the construction industry
* Tax breaks so consumers will spend more money
* Billions of dollars for the Employment Insurance program

Harper added the government will also bolster training programs so unemployed workers can retool their skills and find jobs in different sectors.

The Conservatives also plan to pump money into sectors like aerospace, mining and the forestry industry, which has been battered by falling global demand for products like newsprint.


Your thoughts on this deficit?

p.s. at least there are tax cuts. Sounds like the GST will get the axe again.



GST has been cut enough. It's time to cut income taxes.

EI is going to need a new infusion of cash simply to keep the system running as is . I don't support making it any more generous than it already is, but as the unemployment rate goes up, so will the amount spent on EI in order to keep the system running as is.

As for running a deficit - I don't mind it in the short term. After a long run of surpluses, we can probably afford to run a deficit for a year or two. It shouldn't last longer than that, though.
FF_Canuck





Joined: 02 Sep 2006
Posts: 3360
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votes: 17
Location: Southern Alberta

PostPosted: Sun Dec 21, 2008 12:46 am    Post subject: Reply with quote

Habsrwfan wrote:
As for running a deficit - I don't mind it in the short term. After a long run of surpluses, we can probably afford to run a deficit for a year or two. It shouldn't last longer than that, though.


$30 Billion still seems a bit steep to me. We could probably cut that in half with some reasonable cuts. And most of the projections I've read are saying we'll have defecit budgets until 2011 or so, though 2009 is expected to be by far the worst year.
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