Mikesburg
19-12-2008, 16:27
Ho Ho Ho?
Harper government plans deficits as deep as $30 billion
http://www.cbc.ca/canada/story/2008/12/18/deficits.html
A federal economic stimulus package will likely lead to a deficit in the $20-billion to $30-billion range for the 2009-10 fiscal year, a Prime Minister's Office official told CBC News on Thursday.
Hours after the announcement, Harper confirmed in a television interview that the Conservative government was planning to take unprecedented action to stimulate the country's economy.
“Some people are talking in the neighbourhood of a five to 10 billion dollar deficit. Our own assessment is frankly that will not be sufficient given the challenges we're facing,” Harper told CTV News in a year-end interview.
“I think what will be more realistic in terms of the kind of stimulus our economy is going to need is going to be in the 20-billion to 30-billion dollar range.”
The figure includes the $5-billion deficit the Finance Ministry projected on Wednesday for the next fiscal year, the CBC's Rosemary Barton reported from Ottawa.
It also includes funding for the planned $3.3-billion auto-sector bailout, as well as unspecified amounts for forestry, housing, job retraining and infrastructure investment, the senior official said.
The new numbers are a stark contrast to the surplus projections of Finance Minister Jim Flaherty's economic statement, tabled Nov. 27, and show how quickly the government's perception of the economy has been changing.
So... the right action, or not? Hike up taxes and spend, or borrow and spend? Or cut spending and release tax dollars back into the economy? I don't think Harper could possibly come out of this looking rosy... I have a feeling that the sharks are going to come out and bite even though he's pretty much given the opposition what they asked for.
Either way, I think this is the common ground that the Liberals need to save face and put the coalition notion to bed.
Harper government plans deficits as deep as $30 billion
http://www.cbc.ca/canada/story/2008/12/18/deficits.html
A federal economic stimulus package will likely lead to a deficit in the $20-billion to $30-billion range for the 2009-10 fiscal year, a Prime Minister's Office official told CBC News on Thursday.
Hours after the announcement, Harper confirmed in a television interview that the Conservative government was planning to take unprecedented action to stimulate the country's economy.
“Some people are talking in the neighbourhood of a five to 10 billion dollar deficit. Our own assessment is frankly that will not be sufficient given the challenges we're facing,” Harper told CTV News in a year-end interview.
“I think what will be more realistic in terms of the kind of stimulus our economy is going to need is going to be in the 20-billion to 30-billion dollar range.”
The figure includes the $5-billion deficit the Finance Ministry projected on Wednesday for the next fiscal year, the CBC's Rosemary Barton reported from Ottawa.
It also includes funding for the planned $3.3-billion auto-sector bailout, as well as unspecified amounts for forestry, housing, job retraining and infrastructure investment, the senior official said.
The new numbers are a stark contrast to the surplus projections of Finance Minister Jim Flaherty's economic statement, tabled Nov. 27, and show how quickly the government's perception of the economy has been changing.
So... the right action, or not? Hike up taxes and spend, or borrow and spend? Or cut spending and release tax dollars back into the economy? I don't think Harper could possibly come out of this looking rosy... I have a feeling that the sharks are going to come out and bite even though he's pretty much given the opposition what they asked for.
Either way, I think this is the common ground that the Liberals need to save face and put the coalition notion to bed.