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Flaherty vows there will be no deficit

BRIAN MILNER

Globe and Mail Update

Latest comment posted at 1:17 PM EST 08/10/08

'We'll do what we have to do so long as we remain economically prudent,' finance minister says ...Read the full article

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  1. Just In from Canada writes: Flaherty: 'Crisis, what crisis?'. Harper: 'Buying opportunity', and as some one posted on this forum. Marie Antoinette: 'Let them eat cake.'
  2. Pablo W from Mid Ontario, Canada writes: Any time he opens his mouth I remember a joke about an accountant. Ask a great accountant what 2 2 equals....... the accountants response 'what would you like it to be'.
  3. Daniel Cunningham from Victoria, BC, writes: Gosh golly gee Flatulence has declaimed 'Let there be no deficit' and lo, it was so. This idiot wouldn't know good economic policy if he had a flashlight and a pack of hunting dogs to help him find it. His idea of fiscal prudence is pissing away reserves of money on useless tax cuts & slagging the economy of the largest province in the country. Ditch the Theo-Conservative regime already!
  4. Vote for your NDP MP on October 14, 2008 federal election from Toronto, Canada writes: Flaherty is carrying his damaging policies and lies from Ontario into the federal scene. I remember when Flaherty, Ecker, Eves etc... said in 2003 to so many interviews that there was 'no deficit and there was a balanced budget' . What a bunch of liars. When the PCs were toppled in Ontario in 2003, McGuinty found $5.6 billion deficit.

    This proves that the Conservatives are a bunch of truth-distorters.

    Is the budget going into a deficit?
    Is this the end for our social programs because of Harper's cuts?
    Are we going to see an ever widening gap between rich and poor.

    Stay tuned..... same con-channel, same con-time., same con-government
  5. John...Ish... Ishmael from Brampton ON, Canada writes:

    EVEN IF PEOPLE ARE LOSING THEIR HOMES AND ON GAZA DIETS?

    Flaherty should explain why no deficit is better.
  6. Glynn W from Canada writes: Flaherty is loking to commit political suicide using such an archaic word as'vow' in this current economic climate. Guess he doesn't know his political future as well as he know Canada's balance sheet (some creative accounting?)
  7. Rick Sieb from Edmonton, Canada writes: This man just says what comes into his head, meaning has no significance to him. The voters will be doing Canada a real favor by not returning him to parliament.
  8. M. R. from Canada writes: Jim better learn to read his own department's financial reports, he hit deficit earlier this year!

    Bunch of smoke screen nonsense. Brian why are giving credence to this BS? I don't believe that you believe this lying, thievin' FM.

    ABC
  9. Rick Drysdale from Canada writes: Why is he bothering to go to the meeting.

    He will be back at his law office, tax exempt BTW, next week.
  10. Fifay Chu from Canada writes: Suspicious, very suspicious… is this solely for the election? We need the truth, and we can handle the truth.
  11. Henry Harriston from Listowel, Canada writes: DOES OUR NDP SUPPORTER RECALL THAT BOB RAE TOOK ONTARIO
    FROM A 3 BILLION DEFICIT TO AN 11 BILLION DEFICIT WHICH MIKE
    HARRIS AND CO. HAD TO CORRECT BY TAKING DISTASTEFUL ACTION
    THAT MADE THEM APPEAR TO BE OGRES - LUCKILY, TIME SHOWED THAT
    THE ACTIONS TAKEN WERE SUCCESSFUL
    ALSO, I RECOLLECT THAT THE 2003 ONTARIO CONSERVATIVES INDICATED A
    DEFICIT BUT MCGUINTY AND COMPANY USED AN ALTERNATIVE ACCOUNTING METHOD TO INCREASE THE AMOUNT (SO THEY WOULD
    NOT HAVE TO IMPLEMENT PROMISES WHICH THEY HAD MADE IN THE
    ELECTION CAMPAIGN.
  12. Paul Holmes from Canada writes: What is the percentage of taxes collected by Capital Gains. I assume that this amount of money is completely gone and should not accounted for this year or next year in collections for income taxes.
    Sorry, but I think that they are still using projections based on the beginning of the year estimates, not present conditions. After the election, we will get the ' surprise, the economy is worse then we expected' deficit. I am sorry, but the fact it is obvious lies and a shogun election in order to cover the pending doom with kitty litter. Should we punish Harper for the Global slowdown? No, but we should punish him for' do not worry take a pill and everything is great ' attitude. But if you think the rest are not lying, then you are silly.
    I wish we had an honest party and leader to vote for.
    I want accountability.
  13. Fred Adkins from Canada writes: This is the same guy who vowed not to tax Income Trusts, a week before he did !
  14. Fred Draper from Kingston, Canada writes: Good work Flaherty! I knew you padded the assumptions. Don't listen to the wimpies on this website, still dissing you when they should be dissing Janet Ecker.

    To do what this man has done while cutting the GST... stellar
  15. Hi there from Canada writes: Flaherty lives?

    Is it true that Harper's/Flaherty's government has spent more than any other government in Canadian history, and that they frittered away the surplus that was there when they got into power?

    How do those who support Harper justify this? Vote-buying?
  16. David C from a constant traveler from, Canada writes: Henry Harriston from Listowel, Canada writes: DOES OUR NDP SUPPORTER RECALL THAT BOB RAE TOOK ONTARIO
    FROM A 3 BILLION DEFICIT TO AN 11 BILLION DEFICIT WHICH MIKE
    HARRIS AND CO. HAD TO CORRECT BY TAKING DISTASTEFUL ACTION

    Not that I am partisan, but I also recall Mulroney et Al also Handing the Cretien Liberals a MASSIVE deficit and Paul Martin cleaning that mess up.

    There is enough tar to go around for all parties, Lib, Con Provincial or Federal.

    everybody gets to share IMHO.
  17. Hi there from Canada writes: David C from a constant traveler from, Canada writes:

    ------------
    Wasn't Flaherty in the Harris government as well? Two stones against. And where has he been during this election campaign? Just like Baird and others, we don't hear from them unless Harper says it's okay for them to come out an play. ..
  18. Hi there from Canada writes: When is Harper going to give us the numbers on Afghanistan? Or is he keeping that from us, too, for our own good? Daddy knows best . . .
  19. Harper can't be trusted from Canada writes: gotta love it. This deceiptful little man opens his yap and makes promises. Hey Flaherty, we remember you. You told us that RRSP taxation didn't count when you helped Harper with his Income Trust betrayal because it was 'future taxes' and didn't count. Then, when people pointed out that Teachers Pension Fund would not pay taxes on BCE income you said 'the pensioners pay lots of taxes when the pensions are paid out.' So tell us Flaherty, were you LYING about Income Trusts or LYNG about pension funds? And how about your slimy disgraceful 18 pages of BLACKED OUT documentation justifying slaughtering the savings of seniors and retirees? You are pond scum Flaherty, and you will be unemployed pond scum on October 15th. Good riddance. Ironically, no MP pension for you when you LOSE! Looks good on you. *A Harper promise is as good as a lie*
  20. Harper can't be trusted from Canada writes: Gotta love it. This deceiptful little man opens his yap and makes promises. Hey Flaherty, we remember you. You told us that RRSP taxation didn't count when you helped Harper with his Income Trust betrayal because it was 'future taxes' and didn't count. Then, when people pointed out that Teachers Pension Fund would not pay taxes on BCE income you said 'the pensioners pay lots of taxes when the pensions are paid out.' So tell us Flaherty, were you LYING about Income Trusts or LYNG about pension funds? And how about your slimy disgraceful 18 pages of BLACKED OUT documentation justifying slaughtering the savings of seniors and retirees? You are pond scum Flaherty, and you will be unemployed pond scum on October 15th. Good riddance. Ironically, no MP pension for you when you LOSE! Looks good on you. *A Harper promise is as good as a lie*
  21. Harper can't be trusted from Canada writes: Gotta love it. This deceiptful little man opens his yap and makes promises. Hey Flaherty, we remember you. You told us that RRSP taxation didn't count when you helped Harper with his Income Trust betrayal because it was 'future taxes' and didn't count. Then, when people pointed out that Teachers Pension Fund would not pay taxes on BCE income you said 'the pensioners pay lots of taxes when the pensions are paid out.' So tell us Flaherty, were you LYING about Income Trusts or LYNG about pension funds? And how about your slimy disgraceful 18 pages of BLACKED OUT documentation justifying slaughtering the savings of seniors and retirees? You are pond scum Flaherty, and you will be unemployed pond scum on October 15th. Good riddance. Ironically, no MP pension for you when you LOSE! Looks good on you. *A Harper promise really IS as good as a lie*
  22. Harper can't be trusted from Canada writes: Gotta love it. This deceiptful little man opens his yap and makes promises. Hey Flaherty, we remember you. You told us that RRSP taxation didn't count when you helped Harper with his Income Trust betrayal because it was 'future taxes' and didn't count. Then, when people pointed out that Teachers Pension Fund would not pay taxes on BCE income you said 'the pensioners pay lots of taxes when the pensions are paid out.' So tell us Flaherty, were you LYING about Income Trusts or LYNG about pension funds? And how about your slimy disgraceful 18 pages of BLACKED OUT documentation justifying slaughtering the savings of seniors and retirees? You are pond scum Flaherty, and you will be unemployed pond scum on October 15th. Good riddance. Ironically, no MP pension for you when you LOSE! Looks good on you. *A Harper promise really IS as good as a lie*
  23. North Star from Canada writes: Flaherty already ran federal deficit in March-April of this year and that was before the global economic crisis hit however Harper says 'it's steady as she goes' and Canadians should be 'buying stocks'.

    Harper is out of touch
  24. R. M. from Regina, Canada writes: I just 'love' it when politicians paint themselves in to a corner because they have the ability to put a spin on things that denies there were even corners in the first place.
  25. R. M. from Regina, Canada writes: North Star.......

    You SHOULD be buying stocks....it may come as a surprise to you that the key is to buy low and sell high, not the reverse.....oh the simplicity of it all!!!
  26. jim bender from Woodstock, Canada writes: 'Henry Harriston from Listowel, Canada writes: DOES OUR NDP SUPPORTER RECALL THAT BOB RAE TOOK ONTARIO
    FROM A 3 BILLION DEFICIT TO AN 11 BILLION DEFICIT WHICH MIKE
    HARRIS AND CO. HAD TO CORRECT BY TAKING DISTASTEFUL ACTION'

    No doubt he screwed up...that's because he's a stinking liberal:)(not nearly as dirty however as a CONservative)
  27. s like from Canada writes: Harper can't be trusted from Canada

    You probably can't be trusted either. Most people just project themselves onto others.
  28. Hi there from Canada writes: I want an answer from one of you con supporters . . .

    1) Is Harper's government the largest-spending in canadian history or not???

    2) When is he going to give us the numbers on Afghanistan?
  29. Percy from NL from Canada writes: The biggest spending Minister of Finance in Canadian history is now suddenly going to change his stripes he says, now that there is no large government surplus left. Yeah, sure!

    Sorry Mr. Flaherty, you've got to get elected first before you get a second chance at ruining us financially. Why don't you just go buy some stocks for your early retirement; I heard a guy on TV yesterday say that there are some real good deals available.
  30. J Kay from Canada writes: Fair enough Mr Flaherty, the follow up question then is WHAT do you plan to do to avoid a deficit. I'll ignore the fallacy of his comment, which was surely intended in a differing manner than they wont even run a temporary deficit, since most governments do through the fiscal year, but would like to look at an end of year deficit.

    The budget projections for this year were predicated on a growth scenario which has not materialised. The 2008-09 budget projected a $2.3 billion surplus and the sensitivity analysis section of the budget looks at the impact of a 1% decline in real GDP, a 1% increase in the nominal GDP deflator, or a 1% change in interest rates.

    GDP growth has been well below the estimates contained in budget 2008, inflation has been running moderately above the projected scenario and interest rates are running higher not lower than the budget projects. Each of these factors alone in the budget sensitivity had the ability to push the government's finances into deficit, so when ALL three of these things are occurring, it seems to me the risk of a federal fiscal deficit is VERY real, even though the latest fiscal monitor has the running an on budget surplus, off budget however the story is very different, with a nearly $20 billion shortfall and $15.5 billion is short term financing.

    So I'd like to know, given how the government's economic scenarios which inform the budget projections are not in any way materialising, how does Mr. Flaherty plan to avoid a deficit? Will he raise taxes? Cut spending and if so to what? Will he move some spending off budget to hide the spending and thereby lower the on-budget spending? Or is there sufficient buffer room within the projections to allow for this kind of downturn without it materially impacting budget positions.
  31. Raymond P from Canada writes: Jim Flaherty gets the uninformed Finance Minister award. If this recession is half as bad as expected revenues will fall and demands on the government will go up. Ergo, deficit. Harper wants things to be perfect and refuses to admit the eventuality or possibility of running a deficit. Flaherty is so afraid that he'll be perceived as the next Bob Rae if he runs a deficit. Unfortunately, in their rush to cut taxes and the GST there's nothing left but to run a deficit. During the recession of the early 90s Rae had to contend with close to 2 million people on welfare or E.I. Hence the $11 billion deficit. This recession will dwarf that one and Jim's legacy will be, 'he ran a $30 billion deficit.'
  32. Rob Scott from Canada writes:

    And we are supposed to believe Jim Flaherty, about anything, at all, ever?

    This after all is the same Finance Minister from that cabal of Harris thugs who all lied about a balanced budget that left a surprise $5.6 billion hidden deficit in Ontario for the McGuinty Liberals to find.

    It will be interesting to see what turns up when PM Dion has the auditors come in and look the ledgers over very closely.

    Typical lying right-wing hypocrits: Flaherty probably plans on cooking the books to cover his tracks in Ottawa while he makes his escape.

    Flaherty better escape to someplace pretty far away because he won't ever hold any kind of elected political office in Canada ever again. The people in his home riding are getting ready for election night with torches and pitchforks. And who can blame them?

    Neo-conservative fool... start running...
  33. Cland Destine from Canada writes: That's because they'll just cut services to make up any shortfall! ;)
  34. Mitch Sprague from Ottawa, Canada writes: There are too many of these guys from the Mike Harris 'Common Sense Revolution' for them to be trusted.
  35. Mark Francis from Toronto, Canada writes: We are currently running, ACCORDING TO OUR OWN GOVERNMENT NUMBERS, a deficit of $20 billion.

    Flaherty is lying again.

    The details are here:

    http://mikewatkins.ca/2008/10/08/harper-government-running-deficit-now/

    The numbers can still improve, but it is unlikely we will not run a substantial deficit this year.

    Canada's federal finances are the worst we've seen this decade, and the worst since the mid-90s.

    When Finance Minister in Ontario, Flaherty started the deficit under Harris, eventually hitting $6 billion. Even the right-wing Fraser institute at the time called the Ontario Harris conservative government on that.

    What choice does Harper have, though? He has little talent to call upon. In terms of finance, it was either Flaherty or Stockwell Day. What a choice to have to make.

    Harper has no plan, despite what he says. His major tax cut -- slashing the GST -- was panned by economists everywhere as being unproductive to the economy. And it was a campaign promise dating back to 2006, not part of some grand plan implemented in 2007 to ave Canada from an emerging crisis. That's just spin.

    Harper called this election hoping to get a majority ahead of the bad economic news, and to avoid the blame he so deserves for running a deficit this year.

    Canada is in a worse position now. Our surplus has been burned.

    Vote Anyone But Conservative (ABC) this election.

    Throw the bums out!

    http://anyonebutharper.ca/
  36. a l from Toronto, Canada writes: Flaherty left the Ontario economy in terrible shape when he was voted out (and he mislead the Ontario public as to how bad things were). Then he told the world that Ontario is the last place to invest. Why should anyone believe him now? More importantly, why would anyone trust him at the helm?
  37. Hi there from Canada writes: Cland Destine from Canada writes: That's because they'll just cut services to make up any shortfall! ;)
    -------------

    that's right. And it will be the disadvantaged that will suffer.

    Oh, but wait, in Harper's meritocracy if you're decent, honest and willing to work hard, you're gonna be just fine. Ha!
  38. Sassy Lassie from Canada writes: John...Ish... Ishmael from Brampton ON, Canada writes:

    EVEN IF PEOPLE ARE LOSING THEIR HOMES AND ON GAZA DIETS?

    Flaherty should explain why no deficit is better.
    Posted 08/10/08 at 1:31 PM EDT | Alert an Editor | Link to Comment

    It's not the Government's job to pay off Canadians personal debts i.e. mortages, the Liberals can't afford to do it either.

    The Gaza diet, I saw the people of Palestine coming across the boarder carrying area rugs, cigs, and booze on TV is that the diet you are refering to? I don't smoke, rarely drink and how does one eat an area rug?

    What do you leftards expect the PM to do pay off your ballooning personal debts? Pay the payroll of industries that are dying? Jebus wept, are you really that pityful that you expect the taxpayer to foot the bill for personal debt accrued is that what Dion is going to do?

    Manufacturing a crisis and causing market turmoil is nothing to be proud of Liberals, I suspect those that support the shrieking idiot Dion don't have investments to lose.
  39. Cland Destine from Canada writes: Canada's spending for development in Afghanistan up to May 2006 was $466 million . By 2011, it is expected to reach $1 billion.

    And you know the services are not the place to go to be rich, and it will be do nothing middle men and companies alla Haliurton in the states that slurps up all that tax money.

    I love neo cons, they hate their 'hard earned' tax dollars going to social services, but fighting a now declared 'unwinable' war, and burning our cash in that pursuit is just fine!

    Supporting our troops is one thing, what I do not support is the 'Kings of Moronica' that put them there.
  40. Nathan Weatherdon from Canada writes: Ummm... if it is the case that we`re heading into some economic difficulties, then isn`t that equivalent to 'vowing' to cut programs and/or increase taxes, just when the economy can handle it the least?

    Just imagine Flaherty the farmer ... heading into a rough patch, and rather than borrowing, he sells the tractor, stops paying his electricity bills, takes his kids out of school and cancels next year's fertilizer shipments, all in the name of a balanced budget.

    I'm all for fiscal prudence, but there's a reason we call it prudence. An outright refusal to borrow is not prudent. We can continue slaying the debt monster when the rains come back.
  41. Harper can't be trusted from Canada writes: What's that SMELL?

    Smells like.....like.....BOOKS COOKING!

    Flaherty must be busy.

    Trust a LEADER not a liar
  42. Mike W from Calgary, Canada writes: To Hi There:

    1) Yes 2) I don't know

    Questions for liberals supports:

    1) How much does your party still owe the taxpayers of Canada?
    2) When are we getting it back?
  43. Michele K from Ottawa, Canada writes: Well, we all know what a Flaherty and/or Harper 'vow' is worth.

    Vowed not to touch income trusts, vowed to be bound by a law not to go to the polls until October 2009, vowed to protect our forces, vowed to protect Arctic sovereignty, vowed to create daycare spaces, vowed to protect Canadian sovereignty....

    I mean, seriously folks, it's like they print worthless vows the way the Americans print greenbacks - and worth just about the same.
  44. Rick Drysdale from Canada writes: Sassy Lassie from Canada

    'Manufacturing a crisis and causing market turmoil is nothing to be proud of Liberals, I suspect those that support the shrieking idiot Dion don't have investments to lose. '

    So now the Conservatives are blaming the financial mess all around this world on the Liberals and Mr.Dion.

    Sheer desparation.
  45. Hi there from Canada writes: What seems to be the problem with my posts? They keep getting censored?
  46. DC Moncton, NB from Canada writes: Send this man packing so he can chase an ambulance...that should keep him busy for awhile....
  47. J Kay from Canada writes: Mike W: That's kind of irrelevant to the discussion isn't it, engaging in changing the question and tilting at windmills to avoid an actual discussion and analysis of the subject.

    Canadians are already aware of ADscam and beating a drum incessantly about it doesn't inform anyone of anything they don't already know, it just makes you look like a partisan troll. We had an investigation into the theft of Canadians tax dollars and some are still ongoing but none of that has ANYTHING to do with the current budget of the government of Canada.

  48. Loki Peterson from Toronto, Canada writes: No deficit! And no tax on income trusts! hahahaha The only way we won't have a deficit is if Harpo and Flaherty are defeated!
  49. Geiseric the Lame from Canada writes: “We need to have liquidity in the market so that banks will lend to each other and know that they can trust each other.&8221;

    the hell's going on up there?
  50. Robert Jeans from Canada writes: So $50 bill in corporate tax cuts, uh huh, 2 cents a litre off diesel fuel for $600 mill, okay, an expensive war in Afghanistan, alright, and then a downturn in energy prices and the economy prices hits, awww $%!!. Way to manage the economy right into deficit, Harper.
  51. Tim Cares from Toronto, Canada writes: 'We'll do what we have to'. Does that include cooking the books like he did in Ontario?
  52. Mike W from Calgary, Canada writes: Sorry, J Kay. I'm far from partisan and didn't mean to come off like that. I was really just responding to 'Hi There' and not really commenting on the story itself.

    As for the deficit / no deficit ....well, obviously different people are saying different things and the only real way to know is when the final numbers come in. People love to scream and get excited about anything our Ministers say or do. Harper could cure cancer and people would still find a way to be outraged over it. It's because of the partisan crap I see in these comments that I mostly glaze them over. If you wanted to have a real discussion about why I've chosen to vote Con this time (and have never before BTW) then I'm all for that...but sadly, these boards are too full of partisan hacks. I feel bad that I gave you the impression I am one.
  53. Tim Cares from Toronto, Canada writes: I think Harper has gone back on that 'no deficit under any conditions' pledge.
    Maybe they should both be on the same page.
  54. Gail Thomas from Canada writes: The vitriolic hatred is showing in these comments. Some people are too stupid to know when they have it good to promote their socialism. SOCIALISM IS KILLING OUR DEMOCRACY!
  55. John Brown from Maritimes, Canada writes: Why do I not believe Mr Flaherty, possible because I believe they have already run Canada into a deficit. If we were currently running with a surplus do you not think the CONservatives would have given out that information at the beginning of their drive for a majority along with a platform with a list of fiscally responsible tax cuts for Canadians. I mean look at all the hype about northern sovereignty and bying new ships for the Navy and Coast Gaurd and all of a sudden it was announced these items were scrapped along with other financial obligations, then we are caught in the middle of an election because this government can not function in parliament breaking the fixed election rule. Why is it this all took place before the usual fall budget announcement? I would lay odds that with the cuts to GST and other issues like increased spending and the cost of war, the money is no longer there. I want Canadians to give Harper his majority and let us see the state of Canada in 4 years, by that time you will be chomping to live with 16 years of Liberal fiscal prudence.
  56. garlick toast from Canada writes: Yet again, as with the GST cut, adopting a stance contrary to most economists.
  57. J Kay from Canada writes: Mike W: Fair enough and you're right they are far too filled. I would be curious to know however but I'm not sure this is the place to have a useful productive conversation though I still try :)
  58. John McEnroe from Toronto, Canada writes: To people not from Ontario. Don't trust this man: he said that Ontario's books would be balanced in his last year as Finance Minister in Ontario - he turned out to be 6.5BILLION in deficit. Oops!!! He may do it again for Canada. At least when the NDP in Ontario ran a similarly deep deficit, they didn't lie about it, they announced it from the outset.
  59. Iam Becoming More Conservative:-((( from Ordinary, Canada writes: Fred Draper from Kingston, Canada writes: Good work Flaherty! I knew you padded the assumptions. Don't listen to the wimpies on this website, still dissing you when they should be dissing Janet Ecker.

    To do what this man has done while cutting the GST... stellar

    And that is why the good people of Kingston will be electing a Liberal for the 3rd election in a row....
  60. Iam Becoming More Conservative:-((( from Ordinary, Canada writes: Gail Thomas from Canada writes: The vitriolic hatred is showing in these comments. Some people are too stupid to know when they have it good to promote their socialism. SOCIALISM IS KILLING OUR DEMOCRACY

    Gail are you related to GWB??
  61. Paul Sheridan from Hawkestone, ON, Canada writes: He couldn't have said that with a straight face.
  62. Chris Halford from Ottawa, Canada writes: Tim Cares from Toronto, Canada writes: 'We'll do what we have to'. Does that include cooking the books like he did in Ontario?

    :-)

    He probably already has. That surplus in the last quarter was a little fishy although commodity prices and gas tax revenues may have bailed him out. There's no way they're not in deficit this quarter. If they really mean to avoid a deficit, they'll have to cut some serious programs and their ss will be grss if they get back in with a minority.
  63. Michele K from Ottawa, Canada writes: Iam - and WHAT a Liberal Kingston Fred will be getting, Iam - Peter Milican (sp?) - makes my smile just to think about what that must do to Fred's blood pressure.
  64. Hans S from Canada writes: Remember that even the Ontario PC party didn't want this liar as their leader, considering him too extreme in his right-wing views!
  65. Daniel Cunningham from Victoria, BC, writes: Gail Thomas from Canada writes: The vitriolic hatred is showing in these comments. Some people are too stupid to know when they have it good to promote their socialism. SOCIALISM IS KILLING OUR DEMOCRACY!

    Oh really? It is one of the things that seperates us from the Yanks, for starters. It gives us one of the better healthcare systems in the world. We don't have 55 million uninsured people in this country - and if you do the standard conversion to get the Canadian equivalent - we don't have 5 million uninsured.

    I could go on - but with the stunned statement you made there is really no point. Go back to kissing your pillow & waiting for Fuhrer Harper to save us all from the godless Commies. Not.
  66. Tor Hill from Canada writes: I don't think Mr. Flaherty would be averse to running a deficit; he would just be averse to revealing it.

    I am still for ABC (voteforenvironment.ca). The danger now as I see it is that CPC can still sneak up the middle in the split-vote ridings (split between Liberals and CPC). At the www.voteforenvironment.ca website, for example, I see the NDP candidate in Regina-Qu'Appelle leading the Conservative, in the Nanos poll, by mere hundreds. Speaking as an ABC partisan, I hope we won't see too big a shift to the Liberals there. On the other hand, some potential CPC votes might sneak over to the Liberals too. This election will be over in about six days. I will be nervous until then.
  67. Shades of Grey from Canada writes: Gail Thomas from Canada writes: 'SOCIALISM IS KILLING OUR DEMOCRACY!' When you say 'SOCIALISM' what excactly are you talking about? Publicly funded health care? Income taxes to provide education, infrastructure and social services for the less fortunate? These are all good things in my books. What the heck does your DEMOCRACY look like?
  68. Fifty Cent - 50% American / 50 % Canadian ... from Canada writes: Politicians on all sides can make as many affirmations as they want about the apparent health of the economy, the difference and vitality of our domestic banking system, ad nausem.

    The last time that I checked we did virtually all of our trade with America and that trade alone accounts for the lion's share of the Canadian economy.

    We're living in a house made of glass cards and when the US economy starts to tank there is no doubt that ours is right behind it. You can argue that the effects might not be as hard as they are going to be in America - but have no doubt - times up here are going to be very hard if there is a possible Depression in America....and if the government (no matter which party) says there will be NO deficit budgets and government spending to keep the people from drowning...then there will be revolution instead.
  69. Is there anybody out there? from Saltspring Island, Canada writes: Flaherty, liar and man that left Ontario in severe deficit.
  70. Wilma De Bruyn from Toronto, Canada writes: C'mon Flaherty and Harper-just wipe out the National debt
    through the 'Privy Council', it's a cinch. Let the interest go to the people where it belongs.
    As one stated we know how the Feds balance their budgets,
    dosen't matter who is in power-2 2=what ever you want it
    to be.
    Just read: 'Out On the Take' by Stevie Cameron, is that how
    Canada has been operating? - such a great country, but not great politicians I'm afraid.
  71. Chris Halford from Ottawa, Canada writes: Mike W from Calgary, Canada writes: To Hi There: 1) Yes 2) I don't know Questions for liberals supports: 1) How much does your party still owe the taxpayers of Canada? 2) When are we getting it back? ------------------- I thought you said in a later post that you aren't partisan. 1) Please ask Justice Gomery if he found that the Liberal government had defrauded the public over the Sponsorship Fund - as I recall, he did not; the RCMP have laid no charges against the LPC as part of their investigation so far, although things are getting interesting with Corriveau in Quebec. I don't think Sheila Fraser ever said that the government had defrauded the taxpayer either. She was right, however, that the management of the program and funds was horrible. At this point, there is no evidence, only innuendo, that the Liberals owe the taxpayers of Canada anything. You will recall that the Quebec wing of the party immediately paid back something over $100 Gs when it was shown that the money was donated illegally, I expect they will do the same if any more cases like that come to light. I could make an argument that Harper owes the taxpayers of Canada a healthy chunk of the $300 million this unnecessary (if cathartic) election has cost - charge that to the CPC, that'll level the party warchests somewhat. 2) in the absence of evidence that the LPC owes the taxpayer, this question is moot.
  72. Sen Siv from Canada writes: This man has many of his electors working for the Auto Industry and never had a chance against Harper Economics to help the Auto Industry which was in turmoil . When he says the books will be balanced how does anyone beleive him . We should not have him in parliament after the 14th of October> The Job could be better handled by any other party than his.
  73. Not the Alliance from In my opinion, The Harper Gov't is totally Incompetent, but excel at whining that it's ALWAYS somebody else's fault., Canada, Canada writes: 'There will be no deficit on his watch, even on a temporary basis, Finance Minister Jim Flaherty said Wednesday.'
    ____________
    There you have it. Either another ignorant promise - since fiscal projections are virtually impossible to get right, OR Flaherty KNOWS that he's not going to be Finance Minister much longer.

    Seriously - how can Flaherty be so bold as to promise this? That's just plain stupid. Gov't receipts are going to be really volatile in the next year or so - a prolonged global slowdown and a continued downturn in commodity prices and his 'surplus' could very easily go up in smoke. What he SHOULD have said was that he would do everything within his limited intelligence to avoid a deficit. But to VOW that there wouldn't be one on his watch? Especially when Harepr himself left the door open for future deficits yesterday?

    Again, we're witnessing an idiot Finance Minister in action.
  74. Hugh Albert from Canada writes: Isn't this the former Finance Minister of Ontario kicked out of Provincial politics by voters a few years back? Flaherty & his boss Mike Harris excelled in slash & burn tactics of destroying infrastructure to stop non-conservatives from ever being able to recover by keeping them busy fixing up the Reformer's destruction. Some things change but never really change, Mr. Flaherty is still plugging misspoken truths this time for the real REFORMER Mr. Harper. Saying & doing anything goes for the New Cons (REFORMERS)to win the game of reforming Canada in Mr. Harper's vision.
  75. Chris Halford from Ottawa, Canada writes: Shades of Grey from Canada writes: Gail Thomas from Canada writes: 'SOCIALISM IS KILLING OUR DEMOCRACY!' When you say 'SOCIALISM' what excactly are you talking about? Publicly funded health care? Income taxes to provide education, infrastructure and social services for the less fortunate? These are all good things in my books. What the heck does your DEMOCRACY look like?
    ---------------------------
    Good question. It seems to have something to do with 'big government' but I've never been able to figure out how small the government has to get before it's small enough for the neo-cons. I guess my philosophy of government may be somewhat akin to yours and goes something like 'I pay in my taxes and I get services back, plus I help fund programs that try to prevent people from being destitute if they don't earn enough or they lose their jobs.' (It's interesting that the U.S has HUGE government and small benefits, BTW.)
  76. Richard Soley from writes: THe market doesn't need the likes of J. Flaherty, the trust issue was perhaps the poorest handling of any financial issue ever. I disagree with the spending habits , and promises of the Liberals and the NDP but J. Flaherty needs to go. There needs to be a punisment for politicans who lie, at any level of any party for any reason, lying is simply no acceptable. Hope the local level of voters sends J, Flaherty out to look for a job, maybe as a snake oil salesman.
  77. The Real PS from Canada writes: So, all you financial wizards, what should the govt do to help the economy??

    Run around shouting PANIC

    Introduce a brand new untried (in Canada) tax philosophy AND tax the he11 out of everything

    Reverse tax cuts to industry

    Come on, you're quick to tell people what not to do, how about someone explaining what to do and how it would help

    Anyone, anyone
  78. The Real PS from Canada writes: Is there anybody out there? from Saltspring Island, Canada writes: Flaherty, liar and man that left Ontario in severe deficit.

    Do tell how Flaherty left Ontario in severe defict, please, I'd love to hear it
  79. Maximilian Widmaier from East Van, Canada writes: Gail Thomas from Canada writes: 'SOCIALISM IS KILLING OUR DEMOCRACY!'

    Enough with the political fundamentalism. What is really killing democracy is small minded ideologue reptiles such as yourself. Isn't it obvious that every 'capitalist' nation on earth is a mixed economy, blending free market principles with publicly funded (socialist) services and regulations? If you have a problem with some particular socially funded spending, fine let's hear it, but keep your black-and-white binary worldview where it belongs - in your own little fantasy world. Especially during an election, people like you really make me uneasy about the future of our democracies.
  80. Rick Drysdale from Canada writes: Not the Alliance from In my opinion

    'What he SHOULD have said was that he would do everything within his limited intelligence to avoid a deficit'

    Geez doesn't that leave the door open to any cockamamie idea he gets?
  81. West Virginian Albino Mexican from Canada writes: John McEnroe from Toronto, Canada writes: To people not from Ontario. Don't trust this man: he said that Ontario's books would be balanced in his last year as Finance Minister in Ontario - he turned out to be 6.5BILLION in deficit.

    ==================================================

    For the dimbulbs attributing Ontario's deficit to Flaherty - it was actually courtesy of Ecker/Eaves...
  82. Chris Halford from Ottawa, Canada writes: Not the Alliance ....................... I think Flaherty thinks the electorate is stupid, as does his boss. After all ordinary people have no interest in the Arts or anything more intellectually stimulating than the Sunshine Girl.
  83. Peter Kells from Rat Portage, Canada writes: A man with Mr. Flaherty's history of disastrous economic management in Ontario would do well to refrain from such pronouncements. The man has proven himself to have no credibility on economic matters and not to be believed. How stupid does he really think the voters of this country are?
  84. Rick Drysdale from Canada writes: The Real PS from Canada
    Aren't you aware that Flaherty was finance minister for Ontario?

    Probably one of the worst.

    The Real PS from Canada

    We elect people to do a job. We do not need to know how to do it.

    Does your boss know how to do everything?

    We do know however, when they aren't doing th job they asked for.
  85. Noah Jensen from Cambridge, ON, Canada writes: All I have to say about Flaherty's budgeting effectiveness is:

    http://www.cbc.ca/canada/story/2008/07/25/fedfinance.html

    Enough said.
    N
  86. Maximilian Widmaier from East Van, Canada writes: Fifty Cent - 50% American / 50 % Canadian ... from Canada writes:'...We're living in a house made of glass cards and when the US...'

    Wow, what a screwed up situation we find ourselves in, made even worse by muddled thinking. One metaphor isn't enough! We live in a house of glass cards!!!

    The rest of your post was even more moronically nonsensical so I won't comment on it.
  87. Chris Halford from Ottawa, Canada writes: The Real PS from Canada
    ------------------
    I'm not an economist but the first step is obviously to acknowledge that there is a problem. Without that, there is no solution required 'cos everything's cool. Dion proposed a rough plan which starts with consulting the experts, as I recall. That seems like a logical place to start. The details come out after you have the experts' analysis. Still, he was just panicking, wasn't he?
  88. North Star from Canada writes: R. M. from Regina, Canada writes: North Star.......

    You SHOULD be buying stocks....it may come as a surprise to you that the key is to buy low and sell high, not the reverse.....oh the simplicity of it all!!!

    -------
    Having worked in management in financial services for over a decade, I can tell you that most Canadians are not positioned to take advantage of the market at all, let alone the market during unprecedented volatility. For example, RIF holders, seniors who are forced to sell at current market rates by existing federal legislation while Harper does nothing but collect more taxes from them.

    You propose Harper's stance is that a few rich and astute investors should be rewarded at the expense of the many.
  89. Politicians are Fascist Pigs from Canada writes: Re;Rick Drysdale from Canada writes: Why is he bothering to go to the meeting.

    He will be back at his law office, tax exempt BTW, next week.

    Great Post/observation:

    This would truly be a good defeat. This deadbeat Pol deserves only the most humiliating exit.
  90. Christopher Kiely from Canada writes: Henry Harriston from Listowel, Canada writes: DOES OUR NDP SUPPORTER RECALL THAT BOB RAE TOOK ONTARIO
    FROM A 3 BILLION DEFICIT TO AN 11 BILLION DEFICIT WHICH MIKE
    HARRIS AND CO. HAD TO CORRECT BY TAKING DISTASTEFUL ACTION
    THAT MADE THEM APPEAR TO BE OGRES - LUCKILY, TIME SHOWED THAT
    THE ACTIONS TAKEN WERE SUCCESSFUL
    ALSO, I RECOLLECT THAT THE 2003 ONTARIO CONSERVATIVES INDICATED A
    DEFICIT BUT MCGUINTY AND COMPANY USED AN ALTERNATIVE ACCOUNTING METHOD TO INCREASE THE AMOUNT (SO THEY WOULD
    NOT HAVE TO IMPLEMENT PROMISES WHICH THEY HAD MADE IN THE
    ELECTION CAMPAIGN.

    _______________________________________________________

    And some folks still believe this nonsense.

    The Ontario budget was independently reviewed and sorry Henry, the cons were the ones using the dubious accounting methods and they balanced the Ontario budget only twice during their regime the rest of the time they were selling assets (407) and blowing the cash.

    All caps doesn't make it true my friend.
  91. Rob Scott from Canada writes: West Virginian Albino Mexican from Canada writes: John McEnroe from Toronto, Canada writes: To people not from Ontario. Don't trust this man: he said that Ontario's books would be balanced in his last year as Finance Minister in Ontario - he turned out to be 6.5BILLION in deficit.

    ==================================================

    For the dimbulbs attributing Ontario's deficit to Flaherty - it was actually courtesy of Ecker/Eaves...

    ************

    Harris/Eves/Flaherty/Harper/Bush/Howard...

    Satan has so many names...

    :)
  92. Chris Halford from Ottawa, Canada writes: The Real PS from Canada writes: Is there anybody out there? from Saltspring Island, Canada writes: Flaherty, liar and man that left Ontario in severe deficit.

    Do tell how Flaherty left Ontario in severe defict, please, I'd love to hear it
    ---------------------------
    Just go through the back issues of the papers at the time, it was pretty well reported. The main problem was insufficient government income because of tax cuts, even though the Harrisites offloaded some expensive programs onto the municipalities and cut fluff like government oversight of municipal water supplies and the like :-( The Feds had reduced transfer payments during the effort to get rid of the deficit - that didn't make things easier for Flaherty but it was his job to make sure that earnings were at least as great as expenses.
  93. Fifty Cent - 50% American / 50 % Canadian ... from Canada writes: Maximilian Widmaier from East Van, Canada writes:

    Wow, what a screwed up situation we find ourselves in, made even worse by muddled thinking. One metaphor isn't enough! We live in a house of glass cards!!!

    The rest of your post was even more moronically nonsensical so I won't comment on it.

    ----------------------------------------------------------------------------------------

    What's the matter Max - somebody pi$$ in your cornflakes this morning (I'm assuming that you're only getting out of bed now since it's just past 1pm in Vancouver).

    Every western Liberal democracy should have a statue of John Maynard Keynes smack in their downtown as a testament to how his policies prevented revolution from spreading through their societies during the Great Depression.
    My argument is that times are going to be hard here in Canada as a result of the American situation - and promising no deficits during this time, knowing that the last time this happened the government had to step into the void left by holes in the marketplace regarding spending or the entire country would have gone to an even deeper level of hell than it already did, is pure fantasy.
  94. David K from Guelph, Canada writes: No deficit, eh? Fair enough: but since Mr F is allergic to taxes the only other route to go is cuts, deep cuts and it takes very little imagination to figure out what will be first; arts, environment, social programs -just like in the Harris years.
  95. Sue Johnson from Canada writes: That's code for, 'We'll slash and burn all social programs.'
  96. Christo