Liberal Budget - $18.5 BILLION deficit projected

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February 22nd, 2016, 01:05 PM
Oddmott

Liberal Budget - $18.5 BILLION deficit projected

http://www.ctvnews.ca/mobile/busines...year-1.2787312

So... They're sinking even faster than we expected. $8.5 billion greater deficit than they campaigned on... And the dollar keeps tanking, so we can expect the year-1 deficit to end up much closer to $25 billion.

Oh yeah, and the real jaw dropper is that now they're saying this deficit doesn't even include the stimulus spending, because they'll consider that as "an investment".

So... What exactly is this $18-$25 billion getting spent on? Who the hell knows.
February 22nd, 2016, 01:08 PM
JBen

Sunny ways.
February 22nd, 2016, 01:28 PM
mosquito

Just remember.... that is projected BEFORE the additional infrastructure spending according to what I was listening to on BNN... Oleary said it would be $30B+

"The $18.4-billion figure does not include the planned infrastructure and stimulus spending."
February 22nd, 2016, 01:58 PM
rick_iles

Not surprised at all......it's the LIEBERAL. way !!!!
February 22nd, 2016, 04:03 PM
Dythbringer

So last week there were a couple of comments by cabinet ministers that some of the numbers in the Liberal platform book were "placeholders":

http://news.nationalpost.com/full-co...under-pressure

It is looking more and more that the entire bunch of numbers were placeholders and the entire platform might be a "stretch goal" (hopefully someone gets that reference). I can't say I am surprised though.
February 22nd, 2016, 04:05 PM
DGM999

Did we really expect any less from them?
February 22nd, 2016, 04:42 PM
Bluebulldog

Lord. 5 months in and we're already 18.5 billion in debt as a nation.....

Lots of it wasn't even spent within our borders.
February 22nd, 2016, 04:53 PM
Oddmott

Quote:

Originally Posted by DGM999

Did we really expect any less from them?

Yeah, I did. And I didn't think my expectations were high or anything.

I just didn't think they'd screw up so much, so big, so fast.

Currently they're on track to mismanage in 6 months what I expected to take them 2 yrs.
February 22nd, 2016, 04:56 PM
Bushmoose

The numbers simply do not mean anything to the idiots that voted the libtards in. They're incapable of understanding what "deficit" means and how it will affect the country and the economy.
I recently had a conversation with a buddy's wife about our illustrious PM and his entourage. (She brought the subject up) She was gloating about the libtards gaining a majority, although I firmly believe she doesn't understand what a majority is or how it was accomplished? Never the less, she proceeded to use examples of why the libtards are so good for us. It got real interesting when she started to slam Wynne and the policy's of the provincial gov't that are dragging us down. I had to explain that Wynne and Turdough are basically one and the same, except one is federal and the other is provincial? (I'm having a few DUHH moments by this time) Her final response was "I don't care, I like him". She couldn't explain why she liked him, but she apparently likes him?
I should add that this woman teaches a grade 3 class at a local primary school. Very frustrating to know this is the type of mentality that voted the libtards in.
February 22nd, 2016, 05:18 PM
MarkB

I repeat I didn't vote for the Liberal government. I think our provincial government has and is already doing enough damage.
They are $18 billion in the hole and we have no stimulus spending for it?? Remember, that doesn't mean they spent $18 billion,
they spent A LOT more than that. What they have spent includes the tax funding. $18 billion is only the part that taxes can't cover.

I just want to cash out and leave. But then again, every country in this world is soooo corrupt, inefficient and inept, where would I
go to.

This is ridiculous.

I would support Kevin O'Leary all the way. He should really think about running.
February 22nd, 2016, 05:28 PM
Maximus44

I spoke to a liberal voter as well. His comment was, "he's okay with the way the liberals are spending money, because the taxes taken off his pay check hasn't changed when the liberals were elected.
February 22nd, 2016, 05:35 PM
impact

Yes, the Liberal plan.....Keep the population stoned and confiscate their firearms to prevent an uprising! Then we can rob them blind.
February 22nd, 2016, 05:36 PM
MarkB

Quote:

Originally Posted by Maximus44

I spoke to a liberal voter as well. His comment was, "he's okay with the way the liberals are spending money, because the taxes taken off his pay check hasn't changed when the liberals were elected.

LOL. That explains why he's liberal. As long as I don't see my taxes increase ... so where's this money going to come from ... Santa Clause?
February 22nd, 2016, 05:46 PM
mosquito

Quote:

Originally Posted by Bluebulldog

Lord. 5 months in and we're already 18.5 billion in debt as a nation.....

Lots of it wasn't even spent within our borders.

That's the budget for the year, plus probably another $20B for the year.... they only blew about $4.3B in the first 100 days.
http://www.therebel.media/_in_his_fi...eau_spent_4_3b
"In his first 100 days, Trudeau spent $4.3B. Less than 11 percent was spent in Canada
In his first month in office, Trudeau spent $2.8 billion; $0 of that was spent in Canada. In his first 100 days, he spent $4.3 billion; only $527 million of that in Canada. That's less than 11% spent on our own country."

Quote:

Originally Posted by MarkB

LOL. That explains why he's liberal. As long as I don't see my taxes increase ... so where's this money going to come from ... Santa Clause?

It will, they already said they would roll back alot of the Conservative tax cuts and I have heard twice they want to roll back the GST cuts, increase on the wealthy (to be defined), then there is the promised carbon taxes, changes to "help" the middle class etc. There was an article that said the Conservative tax cuts had left $30B in taxpayers pockets... and in the article the Liberal of course lamented the lost opportunities. They will be looking for lots of way to put money in the gov't pot... and out of our pockets!
February 22nd, 2016, 05:54 PM
terrym

Wow. I guess budgets don't balance themselves after all? Who knew?
February 22nd, 2016, 06:34 PM
B Wilson

Why is everyone surprised? I'm actually surprised it's not a higher number. Why can't they just run surplus like the conservatives did.
February 22nd, 2016, 06:55 PM
warpipe

I didn't think he could be any worse than his father. Only took him 5 months too prove it.
February 22nd, 2016, 07:19 PM
yellow dog

Quote:

Originally Posted by warpipe

I didn't think he could be any worse than his father. Only took him 5 months too prove it.

Clearly ....stupid is genetic.
February 22nd, 2016, 07:25 PM
terrym

Take a good close look at PET, his height, facial features and hair then look at JT. I doubt there is any matching Dna between those two. I would guess an RCMP security guard on Maggy's entourage.
February 22nd, 2016, 09:43 PM
Bushmoose

Quote:

Originally Posted by terrym

Take a good close look at PET, his height, facial features and hair then look at JT. I doubt there is any matching Dna between those two. I would guess an RCMP security guard on Maggy's entourage.

Mick Jagger? Hummmmm.... naw, couldn't be? Could it?
February 22nd, 2016, 10:05 PM
Species8472

First off let me state that I dislike the liberals as much as anyone. Actually I dislike all of the big 3 parties but my dislike for the liberals is greater than it is for the other two (NDP are a close second in the dislike department). That being said if we examine historical fact the top 5 annual deficits ever run by a Canadian government adjusted for inflation to today's dollars are as follows:

1. 1984-1985 - Brian Mulroney - $77.88 Billion
2. 1983-1984 - Trudeau Sr. - $71.53 Billion
3. 1985-1986 - Brian Mulroney - $67.24 Billion
4. 2009-2010 - Stephen Harper - $61.27 Billion
5. 1986-1987 - Brian Mulroney - $57.56 Billion

Take it for it's worth but 4 of the 5 worst deficits in our history were brought down by Conservatives.
February 22nd, 2016, 11:10 PM
poltrojan

Hello austerity measures in 10 years.
February 23rd, 2016, 09:43 AM
mosquito

Quote:

Originally Posted by Species8472

First off let me state that I dislike the liberals as much as anyone. Actually I dislike all of the big 3 parties but my dislike for the liberals is greater than it is for the other two (NDP are a close second in the dislike department). That being said if we examine historical fact the top 5 annual deficits ever run by a Canadian government adjusted for inflation to today's dollars are as follows:

1. 1984-1985 - Brian Mulroney - $77.88 Billion
2. 1983-1984 - Trudeau Sr. - $71.53 Billion
3. 1985-1986 - Brian Mulroney - $67.24 Billion
4. 2009-2010 - Stephen Harper - $61.27 Billion
5. 1986-1987 - Brian Mulroney - $57.56 Billion

Take it for it's worth but 4 of the 5 worst deficits in our history were brought down by Conservatives.

Not sure where those numbers come from, I have used these before, using the RBC numbers and the Bank of Canada inflation calculator.
http://www.rbc.com/economics/economi...rov_fiscal.pdf
http://www.bankofcanada.ca/rates/rel...on-calculator/

Pierre 1984 - $37,167 Million - $79,073 million today
Pierre 1983 - $32,363 Million - $72,630 Million today
Brian Mulroney 1985 - $33,898 Million - $69,663 today - of course the first year he got it from the Trudeau.
Pierre 1981 - $15,674. Million - $42,376 Million today
February 23rd, 2016, 10:52 AM
terrym

Let's not forget that Libs demanded Harper run double the deficit he did during the Global recession and tried to overthrow the government with a coalition just weeks after an election. It's easy to promise poneys in elections but not so much when you are in charge. In the end they either lied about the deficits they were planning on running or are completely incompetent in not knowing what the gloabal economy was in the middle of. I'm sure they are shocked the budget didn't balance itself?
February 23rd, 2016, 10:58 AM
rick_iles

I think both Liars AND incompetent !!!! And I don't for one second believe it will only be a 38billion deficit ! Sunny ways my arse !
February 23rd, 2016, 12:59 PM
Species8472

Quote:

Originally Posted by mosquito

Not sure where those numbers come from, I have used these before, using the RBC numbers and the Bank of Canada inflation calculator

Statistics Canada and the Bank of Canada inflation calculator. Also should add they are inflation adjusted to 2015 not 2016

Quote:

Originally Posted by mosquito

Not sure where those numbers come from, I have used these before, using the RBC numbers and the Bank of Canada inflation calculator.
http://www.rbc.com/economics/economi...rov_fiscal.pdf
http://www.bankofcanada.ca/rates/rel...on-calculator/

Re ran the numbers corrected to 2016 instead of 2015 and based on those sources and this is what comes up:

Year PM Deficit BCIC Adjusted

Billions Factor Rank

82 Trudeau 15.674 2.43 38.08782

83 Trudeau 29.049 2.24 65.06976 4

84 Trudeau 32.363 2.13 68.93319 2

85 Mulroney 37.167 2.06 76.56402 1

86 Mulroney 33.389 1.97 65.77633 3

87 Mulroney 29.842 1.89 56.40138

88 Mulroney 29.017 1.82 52.81094

89 Mulroney 27.947 1.74 48.62778

90 Mulroney 29.143 1.65 48.08595

91 Mulroney 33.899 1.55 52.54345

92 Mulroney 32.319 1.52 49.12488

93 Mulroney 39.019 1.49 58.13831

94 Chretien 38.53 1.47 56.6391

95 Chretien 36.632 1.46 53.48272

96 Chretien 30.006 1.44 43.20864

97 Chretien 8.719 1.41 12.29379

9 Harper 5.755 1.12 6.4456

10 Harper 55.598 1.1 61.1578 5

11 Harper 33.372 1.08 36.04176

12 Harper 26.279 1.05 27.59295

13 Harper 18.929 1.05 19.87545

14 Harper 5.2 1.03 5.356

http://www.rbc.com/economics/economic-reports/pdf/provincial-forecasts/prov_fiscal.pdf

http://www.bankofcanada.ca/rates/related/inflation-calculator/

This is a little different from my first post and shows 3 of 5 to the Conservatives. Point is both parties have done the deficit thing fairly well and to say one is better than the other is certainly debatable.

When you sort it except for the year with the bailouts a real noticable trend comes up.

2011 Harper 33.372 1.08 36.04176

2012 Harper 26.279 1.05 27.59295

2013 Harper 18.929 1.05 19.87545

1997 Chretien 8.719 1.41 12.29379

2009 Harper 5.755 1.12 6.4456

2014 Harper 5.2 1.03 5.356

And they voted Harper out....anyway, it is funny to hear the Liberal lies about "a modest deficit" (now est. at $18B+ infrastructure etc. or over $30B)....

https://www.facebook.com/CBCPolitics...3345405360959/

February 23rd, 2016, 04:37 PM
MarkB

I thought a surplus was posted in 2014??
February 23rd, 2016, 05:00 PM
Species8472

Quote:

Originally Posted by MarkB

I thought a surplus was posted in 2014??

Fiscal year ending March 31, 2014 had a deficit of 5.2 billion. Fiscal year ending March 31, 2015 had a surplus and would have included 9 months of 2014. The year column in the table I posted represents whatever year it was at the end of the fiscal year.
February 23rd, 2016, 05:47 PM
Mdiddi

Liberal Budget - $18.5 BILLION deficit projected

I think the money is well spent. I have seen way more rainbows, unicorns, and the last couple of months have been warm with sunshine.
February 23rd, 2016, 06:20 PM
mosquito

Quote:

Originally Posted by Mdiddi

I think the money is well spent. I have seen way more rainbows, unicorns, and the last couple of months have been warm with sunshine.

Definitely.... and global warming.... he is always talking about that... it seemed warmer much of the winter, maybe a bit warmer at times might be nice.

The surplus was $1.9B and for 2013/14 and 15 Ontario's debt went up more than the Federal one even with boy blunder blowing over $4B in his first 100 days. You will note the Federal surpluses etc. were the projected BEFORE the Liberals got in.
http://www.rbc.com/economics/economi...rov_fiscal.pdf
February 23rd, 2016, 08:58 PM
trimmer21

Quote:

Originally Posted by mosquito

Definitely.... and global warming.... he is always talking about that... it seemed warmer much of the winter, maybe a bit warmer at times might be nice.

The surplus was $1.9B and for 2013/14 and 15 Ontario's debt went up more than the Federal one even with boy blunder blowing over $4B in his first 100 days. You will note the Federal surpluses etc. were the projected BEFORE the Liberals got in.
http://www.rbc.com/economics/economi...rov_fiscal.pdf

This is only what's being reported. Guaran-damn-teed that we haven't even started to scratch the surface,yet. Ya ain't seen nuttin' yet! LOL :silly:

Year	PM	Deficit	BCIC	Adjusted
		Billions	Factor		Rank
82	Trudeau	15.674	2.43	38.08782
83	Trudeau	29.049	2.24	65.06976	4
84	Trudeau	32.363	2.13	68.93319	2
85	Mulroney	37.167	2.06	76.56402	1
86	Mulroney	33.389	1.97	65.77633	3
87	Mulroney	29.842	1.89	56.40138
88	Mulroney	29.017	1.82	52.81094
89	Mulroney	27.947	1.74	48.62778
90	Mulroney	29.143	1.65	48.08595
91	Mulroney	33.899	1.55	52.54345
92	Mulroney	32.319	1.52	49.12488
93	Mulroney	39.019	1.49	58.13831
94	Chretien	38.53	1.47	56.6391
95	Chretien	36.632	1.46	53.48272
96	Chretien	30.006	1.44	43.20864
97	Chretien	8.719	1.41	12.29379
9	Harper	5.755	1.12	6.4456
10	Harper	55.598	1.1	61.1578	5
11	Harper	33.372	1.08	36.04176
12	Harper	26.279	1.05	27.59295
13	Harper	18.929	1.05	19.87545
14	Harper	5.2	1.03	5.356

http://www.rbc.com/economics/economic-reports/pdf/provincial-forecasts/prov_fiscal.pdf
http://www.bankofcanada.ca/rates/related/inflation-calculator/

2011	Harper	33.372	1.08	36.04176
2012	Harper	26.279	1.05	27.59295
2013	Harper	18.929	1.05	19.87545
1997	Chretien	8.719	1.41	12.29379
2009	Harper	5.755	1.12	6.4456
2014	Harper	5.2	1.03	5.356