Skip to main content

Hey Deficit Jim where have you bin Deficit Jim

As most Ontarians have been expecting, our Federal Finance Minister is about to the bring back federal deficits as early as this fiscal year, at least according to the government's own budget watchdog.
The federal Parliament's budget watchdog, Kevin Page, warned on Thursday Canada is at risk of recording deficits starting this fiscal year, and the annual shortfall could reach nearly $14-billion next year as it believes its worst-case scenario represents a "more likely" outcome.
Part of the reason for this years decline of course was Flaherty’s much heralded 1% cut to the GST which has dramatically reduced government revenues in this critical year.

However you could tell the wheels were going to fall off, back here on October 8th when Deficit Jim assured the country that he had everything under control.
There will be no deficit on his watch, even on a temporary basis, Finance Minister Jim Flaherty said Wednesday.

In responding to the worsening global financial crisis that has slowed economic growth in Canada and elsewhere, “we'll do what we have to do, so long as we remain economically prudent. We're sure not going to run a deficit ... We will maintain a surplus in Canada and we will continue to pay down debt.”

Asked if running even a small deficit would be bad in these difficult times, Mr. Flaherty said flatly: “Yes, it would be.”

In other news The White Album turned 40 years old this week.




References: Globe here , Financial Post here , and Winnipeg Sun here .

Comments

Popular posts from this blog

PizzaGate explained

Never heard Bernie speak until after the US election, saw the debates and thought Hillary cleaned Trump's clock. Knew Trump was a prick and couldn't understand how any sane person would vote for him, yet for some reason, I called myself a Bernie guy, didn't trust Hillary and had no idea why.

But, at least I didn't take my gun to a pizza joint to break up a pedophilia ring in the basement and end up getting four years in prison, like Ed Welch from North Carolina.

RollingStone in partnership with the Investigative Fund and the Centre for Investigative Reporting along with five other journalists tracked down the origins and methodologies used to propagate the most successful fake news story of the past election,

A good twenty minute read here.

Boys are not allowed to hit girls

Don't do much anymore except make breakfast for one of my grandkids, a seven year old boy, walking him to school, picking him up and then having philosophical conversations about his day. Living in the basement of my daughter's house, I really try, to not interfere with their parenting, but what the hell, right now he spends as much time with me during the week, than he does with them.

The other day my daughter who came home early and ended up eavesdropping on our conversation about when to fight and when to walk away. Apparently it was one of those days in the school yard.

"Look, it is really simple" I started, "there are only two rules about fighting.The first rule is, you don't start the fight, but if a boy hits you, hit him back, as hard and as fast as you can and don't stop until he runs away." He liked that part and demonstated how he would punch. "In other other words," I continued "you will only be in trouble if you started the …

Surprising how some tunes are just timeless