Canadian Liberals set themselves up for another ass whipping.

[Gabfly1]

Quote from Hello:

1. So tell me which spending bills Harper was responsible for, that added to the deficit with no support from the liberals.

2. Also do you then give Harper credit for running the strongest economy in the G7 during this time of recession?

1. Harper is a tax-cuts-for-the-rich-and-corporates guy. Figure it out.

2. You mean during climbing commodity prices for a resource-rich economy? Also, Harper had nothing to do with Canada's stable banking system, which is an exemplar for the rest of the world, and which has kept the rocking to a minimum.

Meanwhile, how about those lofty deficits, eh?

 

[Hello]

Geeee.... Taxes down revenues up, spending down(slightly).... seems like a good deal to me... The only thing missing is that Harper has never been able to cut spending on greedy government sector workers, but this will change when Harper slaughters Ignatieff in the coming election.


Canadian Budget Deficit Narrows, by Mike Godfrey, Tax-News.com, Washington
Friday, February 04, 2011


The Canadian budget deficit fell by almost more than CAD10bn in the first eight months of the fiscal year to the end of November, thanks in large part to higher tax revenues, Minister of Finance Jim Flaherty has disclosed.

November 2010 revenues increased by CAD2.6bn, or 15.4%, compared with the same month in 2009, reflecting increases in personal and corporate income tax revenues and other revenues, but partially offset by a decline in Goods and Services Tax (GST) revenues. Program expenses were up CAD2.4bn, or 12.9%, largely reflecting an increase in transfer payments. Meanwhile, public debt charges increased by CAD0.3bn.

The November 2010 financial results reflect the impact of the government's sale of a portion of its holdings of common shares in General Motors and asset and liability revaluations associated with the automaker's initial public offering on November 18, 2010.

For the first eight months of the 2010–11 fiscal year however, Canada’s budgetary deficit stood at CAD26bn, compared with a deficit of CAD36.3bn reported in the same period of 2009–10. The November 2010 budget deficit was marginally higher than in November 2009, at CAD4.5bn.

Over CAD11bn of the CAD26bn deficit was attributable to actions taken under Canada’s Economic Action Plan, including tax reductions, Employment Insurance-related measures and infrastructure funding.

Revenues were up CAD10.5bn or 7.7% in the first eight months, primarily reflecting higher personal and corporate income tax revenues, GST revenues and other revenues. Program expenses were down CAD0.5bn, or 0.3%. Public debt charges were up CAD0.6bn on a year-over-year basis.

http://www.tax-news.com/news/Canadian_Budget_Deficit_Narrows____47599.html

Quote from Gabfly1:

1. Harper is a corporate tax cut guy. Figure it out.

2. You mean during climbing commodity prices for a resource-rich economy? Also, Harper had nothing to do with Canada's stable banking system, which is an exemplar for the rest of the world, and which has kept the rocking to a minimum.

Meanwhile, how about those lofty deficits, eh?

 

[Gabfly1]

Quote from Hello:

...Canadian Budget Deficit Narrows...

Really? You mean he's cleaning up some of his own shit? How dainty.

Just so that we're clear, those improved deficit numbers are in comparison to his own previous and higher deficit numbers and not those of his predecessor.

 

[Lucrum]

Quote from Gabfly1:

Really? You mean he's cleaning up some of his own shit? How dainty.

It's better than blaming someone else for it, which seems to be a popular choice for our POTUS.

 

[Hello]

You mean the same "shit" that left Canada with the lowest deficit, and best economy, out of G7 nations as a percentage of GDP? The same "shit" that left Obama with the second worst economy?

Quote from Gabfly1:

Really? You mean he's cleaning up some of his own shit? How dainty.

 

[Tsing Tao]

finally, a thread where gabby can argue for absurdity in his/her own country, rather than constantly arguing for absurdity in our country.

 

[Lucrum]

Quote from Tsing Tao:

finally, a thread where gabby can argue for absurdity in his/her own country, rather than constantly arguing for absurdity in our country.

I was thinking the same thing.

 

[Gabfly1]

Quote from Hello:

You mean the same "shit" that left Canada with the lowest deficit...

So Canada's deficit is the least fat among the other bathing suit contestants. But it is less in shape than it was when Harper took office. And did you miss the part about Canada's rich resource economy during rising commodity prices, which I mentioned earlier? And the rock solid banking system? Had it not been for matters entirely out of his purview, he would be languishing with the rest of the also-rans, what with his fiscal policy.

 

[Hello]

Again you are going in circles, if you want to imply that the economy is currently strong in Canada due to the price of commodities, then you must also acknowledge the fact that the reason the economy was strong in the late 90's was due to the tech bubble. In which case we are simply left with a stronger economy in Canada, and less taxes..... You cant have it both ways.

Quote from Gabfly1:

So Canada's deficit is the least fat among the other bathing suit contestants. But it is less in shape than it was when Harper took office. And did you miss the part about Canada's rich resource economy during rising commodity prices, which I mentioned earlier? And the rock solid banking system? Had it not been for matters entirely out of his purview, he would be languishing with the rest of the also-rans, what with his fiscal policy.

 

[Ricter]

I fear that Canada's housing bubble has not yet burst. If it were not for commodity sales it would, imho, burst, but at the present time Canadians are largely spending like no recession happened. And personal debt is way too high.

[Caveat: Canada does have aggressive immigration targets and a lot of room, going for it.]