New Budget handed down... seeing the red. - Tilted Forum Project Discussion Community

streak_56 · 01-27-2009, 02:54 PM

Here are some of the news article links

Breakdown:

Highlights of the federal budget - Yahoo! Canada News

Related Article:

Harper budget sending Canada $85 billion into deficit - Yahoo! Canada News

85 billion... BILLION in a deficit, may seem a little rediculous but I think over the next two years (64 Billion) we'll see how its working. I don't think spending our way out of a recession is the right course of action but Canada has weathered the recession storm somewhat (in the west atleast).

Tax Cuts totalling over 22 Billion, not too bad by my standards, as I don't really want this to become more like the US, where the Rich get richer and the poor get poorer.

Social program spending, housing, skills training, money for aboriginals. Not really a bad idea but I feel this is more political jockeying for NDP support than anything.

The only thing I really disagree with is bailing out the auto industry. There are industries too in the west and Maritimes than need help too. Such as the fishing, forestry, and oil patch industries. I am encouraged for spending in "greener" technologies, hopefully that'll help the black eye the oil sands are in Alberta/Saskatchewan. And money for clean energy research peaks my interest, honestly, I believe that no matter what budget was put forward, the Grits were going to complain. Were going to say that the Conservatives put Canada in the red for the first time in years, that "they" always had a balanced budget. But a balanced budget to them only covers Ontario, and Quebec, not the rest of Canada. Thats my opinion that a budget should be balanced throughout Canada, not balanced on paper.

Baraka_Guru · 01-27-2009, 03:04 PM

About the tax cuts: The bottom two brackets are getting tax relief.

About the deficit: Running one during an economic downturn is often a good plan. It's running a deficit when things are going well that often isn't. Government spending on infrastructure ensures jobs, whether it creates them or prevents them from disappearing.

I don't have much time at the moment, nor have I looked at the budget at length, but on the surface it looks like one that might make sense. I don't even know what the gripes of the NDP and Bloc are about it yet.

I'll come back when I have time.

dippin · 01-27-2009, 03:07 PM

Yes, counter-cyclical deficits make a lot of sense. That is one of the often unnoticed problems of the Bush years. Massive deficits during expansions not only help foster the bubbles, but make things that much harder during downturns.

TathagataISC · 01-27-2009, 08:19 PM

While the deficit is certainly a concern, I agree that running under a deficit during a recession is often a good plan. Keynes certainly would have approved.

Additionally, keep in mind that it's awful hard for a candidate to get elected saying that his or her constituents don't deserve, don't need, or can't afford government money.

01-27-2009, 02:54 PM	#1 (permalink)
streak_56 who ever said streaking was a bad thing? Location: Calgary	New Budget handed down... seeing the red. Here are some of the news article links Breakdown: Highlights of the federal budget - Yahoo! Canada News Related Article: Harper budget sending Canada $85 billion into deficit - Yahoo! Canada News 85 billion... BILLION in a deficit, may seem a little rediculous but I think over the next two years (64 Billion) we'll see how its working. I don't think spending our way out of a recession is the right course of action but Canada has weathered the recession storm somewhat (in the west atleast). Tax Cuts totalling over 22 Billion, not too bad by my standards, as I don't really want this to become more like the US, where the Rich get richer and the poor get poorer. Social program spending, housing, skills training, money for aboriginals. Not really a bad idea but I feel this is more political jockeying for NDP support than anything. The only thing I really disagree with is bailing out the auto industry. There are industries too in the west and Maritimes than need help too. Such as the fishing, forestry, and oil patch industries. I am encouraged for spending in "greener" technologies, hopefully that'll help the black eye the oil sands are in Alberta/Saskatchewan. And money for clean energy research peaks my interest, honestly, I believe that no matter what budget was put forward, the Grits were going to complain. Were going to say that the Conservatives put Canada in the red for the first time in years, that "they" always had a balanced budget. But a balanced budget to them only covers Ontario, and Quebec, not the rest of Canada. Thats my opinion that a budget should be balanced throughout Canada, not balanced on paper.

01-27-2009, 03:04 PM	#2 (permalink)
Baraka_Guru warrior bodhisattva Super Moderator Location: East-central Canada	About the tax cuts: The bottom two brackets are getting tax relief. About the deficit: Running one during an economic downturn is often a good plan. It's running a deficit when things are going well that often isn't. Government spending on infrastructure ensures jobs, whether it creates them or prevents them from disappearing. I don't have much time at the moment, nor have I looked at the budget at length, but on the surface it looks like one that might make sense. I don't even know what the gripes of the NDP and Bloc are about it yet. I'll come back when I have time. __________________ Knowing that death is certain and that the time of death is uncertain, what's the most important thing? —Bhikkhuni Pema Chödrön Humankind cannot bear very much reality. —From "Burnt Norton," Four Quartets (1936), T. S. Eliot

01-27-2009, 03:07 PM	#3 (permalink)
dippin Crazy, indeed Location: the ether	Yes, counter-cyclical deficits make a lot of sense. That is one of the often unnoticed problems of the Bush years. Massive deficits during expansions not only help foster the bubbles, but make things that much harder during downturns.

01-27-2009, 08:19 PM	#4 (permalink)
TathagataISC Upright	While the deficit is certainly a concern, I agree that running under a deficit during a recession is often a good plan. Keynes certainly would have approved. Additionally, keep in mind that it's awful hard for a candidate to get elected saying that his or her constituents don't deserve, don't need, or can't afford government money.