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On 3/20/2021 at 11:14 AM, Jaydee said:

What Conservatives disagree with is “the debate is over” crap pushed by Leftists. 

Not the guy at the top...

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“I am the leader and this is an important issue for me”. “The debate is closed.”

Erin O’Toole to campaign on climate-change plan despite party skepticism on issue

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Indeed, maybe auto correct is an NDP invention. It seems that only liberals can elicit that sort of illicit behaviour from a computer.... it causes them to automatically cast all liberals in the 

One of the more delusional posts on this board in quite some time

What was amusing were the questions in QP yesterday.....the cons were peppering the libs with questions about a budget but it took a set up question from lib Mark Gerretson (tool!) for Freeland to ann

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Looks like April’s fools day has been moved back by 19 days. I can see this triggering an election. For TWO years they have been unable to produce a budget with a million reasons as to why not..COVID usually the convenient excuse..yet all of a sudden, it’s doable..:Scratch-Head: ..and yet....Canada is still in a Pandemic induced coma......Watch the freebies fly far and wide. YOU get a free car....and YOU get a free car....and YOU get a free car....

 

Freeland says federal budget will be tabled April 19

 

https://www.theglobeandmail.com/politics/article-freeland-says-federal-budget-will-be-tabled-april-19/?utm_medium=Referrer%3A+Social+Network+%2F+Media&utm_campaign=Shared+Web+Article+Links&fbclid=IwAR1WMZhO1iJJmQDDzCcAZR0o2wwBPwzbHGbpOOsuP2m1_aaJ58twZkgAFcY

 

 

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What was amusing were the questions in QP yesterday.....the cons were peppering the libs with questions about a budget but it took a set up question from lib Mark Gerretson (tool!) for Freeland to announce the budget date.... 10 mins later.

Personally, I have lost confidence in the country and its citizens. I feel we are headed down a path to join Italy and Greece . No talk of paying down debt or cutting red tape to encourage business and industry. People are seemingly happy with a government that tells them how to think, behave, a government that picks winners and losers, as long as the those people are bought off with housing subsidies, child subsidies, energy rebates, etc. Standby for guaranteed annual income, national pharmacare, and national daycare.

I hope Trudeau is around for the financial day of reckoning, the day the people lending the government money will say enough!  Ask Chrétien and Martin what that was like. No more downloading program costs to the provinces. They are broke too. Again, do people realize this or even care. 

Since 2007/08, combined federal and provincial net debt (inflation-adjusted) has doubled from $1.0 trillion to a projected $2.0 trillion in 2020/21. In 2020/21, combined federal and provincial net debt is expected to equal 91.6% of the Canadian economy, up from 65.2% last year.”

Sadly, we will all eventually suffer for Trudeau’s utopian dreams.

Oh....hot off the press....after the disastrous years of the liberals, and now Covid..this is new Ontario reality...

”Deep deficits are then expected to continue for several subsequent years, and Ontario will be facing about a half-trillion dollars of total debt by 2024.” (Of course the teachers unions aren’t happy).

But it’s ok...thousands of green jobs in clean tech are just around the corner.

 

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One of my young minions (and definitely my favourite) expresses disgust at how many of her friends think the last year has been some magical dreamland of free money and good times that they never want to end. Giving up travel and bars for no real expectation they will get out of bed before 14:00 seems like a dream come true.

If you're guessing she wasn't born in Canada you're correct.

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Magical dreamland of free money......They haven't filed their taxes yet,,,,,All debts come due

 

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1 hour ago, boestar said:

Magical dreamland of free money......They haven't filed their taxes yet,,,,,All debts come due

 

 

Waiting 25 months for Godot's first pandemic budget 

Expect extravagant spending in the guise of investment, undeserved self-congratulation, wokeness on steroids, empty promises of fiscal rectitude and soak-the-rich cash grabs

Last Friday marked two years since the last federal budget, the longest such gap ever, including during two world wars. So it is timely to consider the significance of the unprecedented delay, the parlous state of Canada’s finances and the possible content of the budget, all while waiting for Godot, who now apparently will show up on April 19th, precisely 25 months after his last visit.

The federal government has exploited the COVID-19 pandemic to avoid scrutiny of expenditures that have created an eye-watering deficit of $380 billion and driven the national debt up to almost $1.1 trillion. People are focused on their health and tolerant of massive spending to help their fellow citizens who have been devastated by government-mandated closures, and even some who were not. That explains the lacklustre public reaction to a government that has imposed a crushing financial burden on this generation and the next with minimal oversight or transparency and no fiscal anchor.

Over the last year, many members of the Fourth Estate have abdicated their core mission to hold power accountable and became apologists and even cheerleaders for dubious Liberal tactics. Our national broadcaster has abandoned any pretence of objectivity by downplaying the erosion of our democratic traditions and the conventions of responsible government. Where was the outrage? Freed from mainstream media criticism and abetted by a complicit NDP, Prime Minister Trudeau stymied Parliament, covered up the WE scandal and spent hundreds of billions of dollars without submitting to detailed review by the House of Commons what turned out in many cases to be badly flawed programs.

His next cynical move will be to engineer an election this year, calculating that by lavishing cash on voters he can win before the dire consequences of his profligacy start to bite. And bite they will, but not immediately.

That federal help was more generous than necessary is revealed by the paradox that although many small businesses have closed insolvency firms have been laying off employees for lack of work. Firms that were about to file for bankruptcy were bailed out by government funding; landlords did not evict delinquent tenants lest premises remain vacant; financial institutions deferred loan payments; and income taxes were postponed.

On top of it all, Finance Minister Chrystia Freeland promises $100 billion in stimulus spending over the next three years — despite what is likely to be an explosion of pent-up consumer demand financed by a huge spike in disposable cash, partly from government handouts to people who clearly did not need the money to buy food or other essentials and saved it instead.

Even so, the Canadian Federation of Independent Business predicts over 239,000 businesses may not reopen, an unsettling backdrop for the government in power. And rising interest rates portend a looming liquidity squeeze for mortgage borrowers, highly indebted small and medium-sized enterprises and maxed-out consumers.

It is no surprise that Mr. Trudeau has signalled his pre-election budget will not inflict brutal tax hikes on most Canadians. That won’t happen until after he gets his coveted majority — it would be terribly naive to believe campaign assurances to the contrary. When this budget finally does arrive, we can expect extravagant spending in the guise of investment, undeserved self-congratulation, wokeness on steroids, empty promises of fiscal rectitude and soak-the-rich cash grabs.

Speculation is rife about a wealth tax on individuals with a net worth of over $20 million. That NDP favourite may appeal to Freeland who, inspired by French Marxist Thomas Piketty, has long been mesmerized by income inequality. It would be much less popular among the Liberal Party’s ultra-wealthy inner circle. According to the Parliamentary Budget Office, 14,000 families (many of them Liberal voters) might end up paying $5.6 billion. Whether the tax would actually raise that much money depends on the “behavioural response” to it, which Liberals typically pooh-pooh — even as they adjust their own portfolios to maximize tax advantages. It clearly would generate endless virtue-signalling about fairness and fuel the politics of envy.

 

There is also much conjecture about a possible increase in the capital gains inclusion rate, which would impact the roughly half of Canadians who own stocks directly or through mutual funds. But it would discourage savings and capital formation, undermine growth, unfairly target inflationary gains and produce a lock-in effect. A succession duty or tax on principal residences, even with sizeable deductions, would be poorly received by voters. Definitely off the table for now is a major hike in personal income tax rates or the GST. Unlike the other measures, they would bring in significant revenue but are vote-killers.

Federal fiscal forecasts are already off the rails, due to an increase in interest rates caused by rising demand and inflation. If interest obligations grow faster than GDP, Canada will eventually hit the wall, with credit downgrades and a financial crisis. For a spendthrift progressive government encroaching on the NDP base, that may seem boring stuff, the obsession of economists and always-suspect conservative prognosticators. Unfortunately, confronting the tedious has a way of becoming unavoidable when the bailiff starts pounding on your door. The scandal-ridden Liberals may be gone by then and it will be up to the next government to bring back fiscal prudence and parliamentary democracy to a population suffering a severe bout of buyer’s remorse.

Joe Oliver was minister of finance 2014-15.

https://financialpost.com/opinion/joe-oliver-waiting-25-months-for-godots-first-pandemic-budget?utm_term=Autofeed&utm_medium=Social&utm_source=Facebook&fbclid=IwAR3XoLZwvam9atKQRkrUZ5n4BVBaTUIiQxBfL76JdEgRCCulbOArpHYydjE#Echobox=1616669095

Edited by Jaydee
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On 3/25/2021 at 5:29 AM, boestar said:

Magical dreamland of free money......They haven't filed their taxes yet,,,,,All debts come due

 

You know those Antipodean workers at Canadian ski resorts that had trouble getting back home a year ago.

The Federal Government decided that they should get CERB payments

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