“When the final calculations for 2008 are released, that shortfall is expected to come in at $5.8 billion.
That’s nothing, however, compared to the $55.9 billion annual deficit the Conservatives predict for 2009 as they flood the country with money in a bid to offset the impact of the recession.”
This from a government that inherited a 13M surplus!
“This situation results from the Tories’ decisions to sharply reduce sales taxes and lower personal and corporate income taxes while simultaneously allowing a relentless upsurge in Ottawa’s spending.”
So essentially, Mr. Harper, an Economist by trade consciously decided to cut taxes to the rich and businesses knowing the predictions and trends leading to the recession.
That doesn’t sound very conservative to me. I can’t see Mike Harris, Ralph Klein, or Brian Mulroney doing that….
“And Harper says he’s determined to return Canada to fiscal health as soon as possible. “Our stimulus spending is temporary,” he said Friday in Welland, Ont. “It will end when the recession ends.”
But economists say it will be a lot harder to slay the deficit in the years ahead, when governments face ballooning health-care costs and reduced income-tax revenues as baby boomers retire en masse.”
What do you think Cornwall?