Liberals could put Canada on track to run $90 billion in deficits over first mandate


Locutus
#1
oh well

OTTAWA — The National Bank says the country’s fading economic prospects could put the federal government on track to run $90 billion in deficits over the Liberals’ four-year mandate.

In a report, the bank predicts the public books will sink deeper into the red due to the combination of a weakened economy and Liberal promises of billions in fiscal stimulus.

Report author Warren Lovely says if the bank’s downgraded growth profile comes to pass then Ottawa could lose $50 billion in revenue over the next four years.

The Liberals have pledged to run deficits in the coming years in order to spend $17.4 billion over its first mandate on infrastructure projects — which they predict will create jobs and generate economic growth.

Since coming to power, however, the Liberals have shied away from their election vow to keep annual deficits under $10 billion as the economy continues to falter amid falling commodity prices.

The Liberals have also promised to balance the budget in the fourth year of their mandate — a goal Lovely says will be difficult to accomplish without tax hikes or spending cuts.


mo


Liberals could put Canada on track to run $90 billion in deficits over first mandate, bank study says | National Post
 
Angstrom
No Party Affiliation
#2
why let money stand in the way if it's the right thing to do. We can borrow to pay for our borrowed money. Duh!
 
petros
#3
Warm fluffy spending I don't agree with but picking up the ball and completing the Gateways and Gateway Corridors gets my nod.

Flossy must be disappointed Trudeau upped the ante on the vital ActionPlan.

Same projects, new label.
 
JamesBondo
+1
#4
His campaign promise was 10 billion per year.

90 billion is NOT "on track", it is a total derailment.
 
petros
#5
Fast tracking the actionplan. Apparently Harper was managing the program too frugally.
 
mentalfloss
#6
So it would be less than Harper then.
 
petros
#7
Why? Explain.
 
mentalfloss
#8
90 is less than 130
 
petros
#9
130 what?
 
mentalfloss
#10
Billion
 
petros
#11
90Billion spent in 4 years is less than 130Billion in 10 years?

No wonder she split.

After 10 years Trudeau will be at $225B. Shy of $9B a year more
 
mentalfloss
#12
Could is the same as did?

You really aren't the sharpest turd in the toilet.
 
petros
#13
Yup. It was you who set that standard.

Don't like it?
 
B00Mer
No Party Affiliation
#14
Quote: Originally Posted by JamesBondo View Post

His campaign promise was 10 billion per year.

90 billion is NOT "on track", it is a total derailment.

The budget will balance itself..

 
darkbeaver
Republican
#15
Quote: Originally Posted by Locutus View Post

oh well

OTTAWA — The National Bank says the country’s fading economic prospects could put the federal government on track to run $90 billion in deficits over the Liberals’ four-year mandate.

In a report, the bank predicts the public books will sink deeper into the red due to the combination of a weakened economy and Liberal promises of billions in fiscal stimulus.

Report author Warren Lovely says if the bank’s downgraded growth profile comes to pass then Ottawa could lose $50 billion in revenue over the next four years.

The Liberals have pledged to run deficits in the coming years in order to spend $17.4 billion over its first mandate on infrastructure projects — which they predict will create jobs and generate economic growth.

Since coming to power, however, the Liberals have shied away from their election vow to keep annual deficits under $10 billion as the economy continues to falter amid falling commodity prices.

The Liberals have also promised to balance the budget in the fourth year of their mandate — a goal Lovely says will be difficult to accomplish without tax hikes or spending cuts.


mo


Liberals could put Canada on track to run $90 billion in deficits over first mandate, bank study says | National Post

What National Bank is this? I never heard of it.
 
SLM
No Party Affiliation
+2
#16  Top Rated Post
Quote: Originally Posted by mentalfloss View Post

Could is the same as did?

You really aren't the sharpest turd in the toilet.

Not only does that not make any sense at all, a five year old would be more mature.
 
B00Mer
No Party Affiliation
#17
I think the $90 billion estimate is a little on the optimistic side. It's barely 3 months since the election and there hasn't even been a budget yet. All the promises haven't been costed out and we're still in the honeymoon phase with the new government. The Liberals will play the "We had no idea things were this bad." card for 1 to 2 years.

Time will tell, but we've all seen this play out before.