Thursday, October 16, 2008

Colour Me Shocked: Deficits

They're going to blame the economy, naturally, and that's probably fair enough. But we're still looking at four years of deficits.

But still: Flaherty = Deficits.

I don't see why TD's chief economist said the following:
“Many economists have said it's acceptable to run a modest deficit for a short period of time, but there's virtually nobody on record as saying it's acceptable to run deficits for many years in a row,” Mr. Drummond said.

Really? I think we had fifteen years of straight deficits in Ontario, if you count from when Bob Rae began intentionally destroying the NDP to when we finally booted the Progressive "Conservatives" out of office.

What's four years?

They've already had to cancel a couple of military vessels and an arctic sovereignty protecting icebreaker. What will they cancel next? The responsible thing might even be going in to deficit. At that point, they're as screwed as McGuinty having to break his no-tax-increase promise when faced with the PC deficit he took over.

Keep your promise or do what's right?

Best of luck, chuckleheads.

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Socially Active said...

People are going to regret they held their nose and gave Harper a minority.

I am sure Flaherty is a bad manager of the economy. He can hid it the short term by selling Government assents. But in the long term he causes REAL HARM.

Harper followed Bush's example and first deregulated credit. June 2006, than again in November 2006 CMHC relaxed its standards. Prior to Harper, government insured mortgage were a prudent maximum of 25 years and with a minimum down payment of 5%. The introduction of dangerous zero down 40yr mortgages fuelled already out of control housing prices. Canada is not suffering to the extend the US people are suffering because the Liberals know there is piper to pay and did not follow Bush deregulating credit. Only after Canada felt the growing credit crises did Harper reverse the dangerous zero down 40yr mortgages effective Oct 15 2008 which he earlier introduced in 2006.


Earlier this year, CMHC was the first Canadian mortgage insurer to introduce, on a pilot basis, insurance on loans with extended amortization periods of up to 30 years.

Anonymous said...

We will all pay alright. Voters apathy and how they so readily choose to believe Bush style character assassination over substance. Right after election, Harper adopted Dion's economic plan. And added one point so instead of Dion's five point, he has six points. Pathetic. He stole Dion plan also. Which is all good for our country but the hypocrisy is just so obvious it is amusing how people can fall for that. Just another plagiarism to add to Harper's resume.