Despite the claims that cuts are possible, it is hard to see how savings can be made that would address these type of numbers without massive service cuts -- like it or not I see tax increases ... .
http://tiny.cc/1GbDY
OTTAWA–Unless the economy greatly outperforms expectations, the only way the Conservative government can meet its deficit-reduction goals by 2014 will be to slash programs or raise taxes, says parliamentary budget officer Kevin Page.
His analysis of the March 4 budget, released Thursday, casts doubt on the federal government's claim that by reducing the growth in federal spending, Ottawa can wipe out most of its current $54 billion deficit in the coming years.
The government's claim that it will nearly eliminate the deficit by 2014 will be off target by nearly $20 billion in the last two years of the plan, Page said.
While Finance Minister Jim Flaherty forecast the annual budget deficit will be trimmed to $8.5 billion in 2013, Page said the deficit that year will come in much higher, at $16.3 billion.
In 2014, while the government sees the deficit falling to $1.8 billion, Page pegs it at $12.3 billion.
3 comments:
I think that what we need to understand is that this logic doesn't bother the conservatives.
They will be happy to continue running deficits - and even better, use the deficits to cut government, but continue running deficits - leaving the problem for any more liberal government to solve.
This is what Mulroney did, this is what Bush did, and this is what conservative governments do.
It leaves liberal oppositions in a hard place, because while outside government they have to call for tax increases and program cuts, which are not popular, and once elected they have to raise taxes and cut expenses to even begin to recover from the conservative excess.
Trudeau was the worst;
When Trudeau took office in 1968 Canada had a debt of $18 billion (24% of GDP) which was largely left over from World War II[citation needed]; when he left office in 1984, that debt stood at $200 billion (46% of GDP), an increase of 83% in real terms.
This is just one of the ways that Turdeau ruined Canada.
So when is Iggy getting the knives in the back?
Moments before he is tossed under the same bus as Dion was?
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