Wednesday, January 14, 2009

Harper to run deficit for decade

Stephen Harper, to win votes , said during the election he would not run a deficit. Now we see that not only was that a lie, but that the deficit for this year will be one of the largest deficits in Canadian history, and we will continue to rack up deficits, and in turn add to our debt, for at least the next 5 years.

Kevin Page, the Parliamentary budget officer, appointed by Stephen Harper, is predicting half a decade of deficits. How did this happen? We had a government that went 12, or perhaps 13 straight years with surpluses, they were blasted by Harper for bad fiscal management. Harper finally gets his shot, inherits the healthiest economy in the G-20, surpluses, jobs being created, and a contingency fund of billions set up to handle these situations.

What did Harper and Flip Flop Flaherty do? Within 2 years, surplus gone, contingency gone, deficits back, economy floundering. Is this the strong fiscal leadership Harper promised.

According to the globe and mail, Mr. Page and his staff aren't excited about the prospects ahead:

"It would be very hard to bring it back to balance in five years," Mr. Page said.
One of his staff suggested it might even take Ottawa seven to 10 years to return to balanced budgets under some scenarios, but cautioned there are too many factors at play to forecast with precision.
Mr. Page said, however, that in excess of half a decade is probable. "It's going to take more than five years," he said.

So, under Harper we have gone from a country of economic strength and hope, to a government that may run a deficit for up to a decade.

The old, but very important question needs to be asked about the Harper governments performance, " Are you in better or worse shape economically now, then you were under the former liberal government" The answer for a large majority of people, accept those serving in Harpers Cabinet is simple, worse, Much worse.

In roughly 2 years Harper has destroyed our economic strength, re-opened the abortion debate, re-opened the gay rights debate, re-opened the equality for women debate, has seen tens of thousands of job losses, and flip flopped on income trusts, veterans survivors benefits, no deficits, more house cooperation and senate reform. He broke promises on all those issues, most Canadians are worse off, and we have a decade of red ink to look forward to.

For a leader who likes to think he is always the smartest guy in the room when is he going to make a smart move.

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