Re: Justin Trudeau promises budget holds ‘historic’ investments for indigenous people
» Liberal Infrastructure Plan
$40+billion over 10 years!
» Liberal Infrastructure Plan
$40+billion over 10 years!
Analysts on Canada's budget: ‘Deficit paranoia is mind-bogglingly stupid’
- Thread starter mentalfloss
- Start date
They said in the city paper today that Northern Ontario got the **** end of the stick again with regards to the budget and all the money spent. Money that missed the north :/
Re: Justin Trudeau promises budget holds ‘historic’ investments for indigenous people
Thanx Flossy. I didn't have the exact number but knew it wasn't the full $30 billion.
Contingency fund for what?
Sorry, if we are using 10 year number, I should change the $30 billion deficit to $300 billion.
Thanx Flossy. I didn't have the exact number but knew it wasn't the full $30 billion.
Contingency fund for what?
Sorry, if we are using 10 year number, I should change the $30 billion deficit to $300 billion.
Re: Justin Trudeau promises budget holds ‘historic’ investments for indigenous people
They also reneged on their promises to small business who now see increased costs.
They also reneged on their promises to small business who now see increased costs.
The $8 Billion contingency fund is money set aside to cover for unforeseen expenses.
If there is some kind of crisis and we have a larger contingency fund, then it makes the government look good because it is unlikely they will exceed that amount and their budget forecast will look reasonable. If they don't use any of that money, they can possibly claim a budget surplus or reduced deficit later.
This is the honest and prudent way of budgeting.
This dishonest way is to do what Harper did, which was to reduce the contingency fund so that there could appear to be a surplus when they first release the budget and they are doing their forecasting.
It's like wanting to buy a house and pretending you don't need property insurance, so that it appears you have more money later.
If there is some kind of crisis and we have a larger contingency fund, then it makes the government look good because it is unlikely they will exceed that amount and their budget forecast will look reasonable. If they don't use any of that money, they can possibly claim a budget surplus or reduced deficit later.
This is the honest and prudent way of budgeting.
This dishonest way is to do what Harper did, which was to reduce the contingency fund so that there could appear to be a surplus when they first release the budget and they are doing their forecasting.
It's like wanting to buy a house and pretending you don't need property insurance, so that it appears you have more money later.
The history of deficits over 50 years
With interest rates at historic lows, the cost of servicing government debt is the lowest it has been in 50 years.
Morneau’s fiscal update predicts next year’s deficit will be five times as large as what was projected just three months ago, hitting $18.4 billion in 2016/17 — and that’s not including the Liberals’ deficit-spending promises.
But looking at the new numbers, the economists at Canada’s big banks don't sound scared.
“Even a $30-billion deficit would amount to only 1.5 per cent of GDP, and the U.S. has been congratulating itself on getting its federal deficit down to a low of 2.5 per cent,” noted CIBC chief economist Avery Shenfeld.
BMO’s Douglas Porter and Robert Kavcic pointed out that interest rates are even lower today than the government had been expecting, and the savings on interest payments alone will come to $1.5 billion a year for the next three years.
“In our view the government has the flexibility to provide fiscal stimulus to a Canadian economy that badly needs it,” National Bank economist Marc Pinsonneault wrote.
Five reasons why the deficit should be bigger, not smaller – Behind the Numbers
With interest rates at historic lows, the cost of servicing government debt is the lowest it has been in 50 years.
Morneau’s fiscal update predicts next year’s deficit will be five times as large as what was projected just three months ago, hitting $18.4 billion in 2016/17 — and that’s not including the Liberals’ deficit-spending promises.
But looking at the new numbers, the economists at Canada’s big banks don't sound scared.
“Even a $30-billion deficit would amount to only 1.5 per cent of GDP, and the U.S. has been congratulating itself on getting its federal deficit down to a low of 2.5 per cent,” noted CIBC chief economist Avery Shenfeld.
BMO’s Douglas Porter and Robert Kavcic pointed out that interest rates are even lower today than the government had been expecting, and the savings on interest payments alone will come to $1.5 billion a year for the next three years.
“In our view the government has the flexibility to provide fiscal stimulus to a Canadian economy that badly needs it,” National Bank economist Marc Pinsonneault wrote.
Five reasons why the deficit should be bigger, not smaller – Behind the Numbers
I agree, they should be bigger.
There will be a ton of industry that needs help as we move out of fossil fuels.
There will be a ton of industry that needs help as we move out of fossil fuels.
So you aren't against the proposed refinery on the outskirts of Rutland ?
Why and when ?
Why hasn't trudeau done anything about global warming?
He really should just think about the kids
He really should just think about the kids
Re: Justin Trudeau promises budget holds ‘historic’ investments for indigenous people
BTW - the campaign on hair (brought up by someone else and inserted here cuz I have the floor and I'm testing your reading skills) Wasn't there a whole election on "Nice hal doh"
My (guy's) shyte don't stink syndrome much?
Part about the band I recall was the drummer being a diddler ... but that didn't make hay among the anti-Harper crowd. Then there was a drunken Bennie and friend and an adventure at the hospital - which didn't make a ripple left. Maybe your directions need some adjustment, Skookie
BTW - the campaign on hair (brought up by someone else and inserted here cuz I have the floor and I'm testing your reading skills) Wasn't there a whole election on "Nice hal doh"
My (guy's) shyte don't stink syndrome much?