Sunday, November 16, 2008

Dont you love the smell of deficits in the morning

Apparently Canadians can breath easier.

As our prime minister peaks fresh from the G20 meeting,
In a press conference, Harper said events are forcing his government to abandon its dislike of interventionist government spending.

During the recent federal election campaign, the Conservatives said they would never run a budget deficit.

But the government now acknowledges that, with the world economy falling so much faster and farther than anyone expected, a budget shortfall cannot be ruled out this year and next.

This is not business as usual these days, Flaherty said in an interview.
In other words you cut your revenue stream, wasted our surplus on ideological, vote buying projects, placed all our eggs in one basket by focussing on one region of our country and one segment of our economy to detriment of others, ridiculed the opposition who raised the economic recession during the election, made false bravado like promises of fiscal superiority and now feel that you have the consensus and enough excuses to move into a deficit position this year and next.

You have no other options or controls to avoid one, Mr. Harper.

The only thing that could have prevented a deficit would of been non ideological fiscal foresight and financial management and you do not have those either.


Reference: CP here.

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