deficitSyndicate content

Columnists

Deficit hawks have swooped down on the U.S. budget

Getting out of the red is the new black. Deficit hawks have swooped down on the U.S. budget. This week, they attacked unemployment benefits.

Ultimately, they are going after Social Security and Medicare/Medicaid, the venerable programs once considered untouchable "third rails" of U.S. politics. These have been replaced by a new third rail, the defense budget. To really deal with annual deficits and a surging national debt, we are going to need to cut military spending.

We need some deficit doves.

Columnists

McGuinty government rewarding those at the top and squeezing those at the bottom

One of the depressing aspects of the last few decades is the ease with which seemingly normal people walk obliviously past the aching pools of humanity spread out on our sidewalks.

At what point will people start looking up from their iPhones -- at least momentarily -- and think: Something must be done.

That moment should have come with the recent axing of Ontario's "special diet allowance," in which Dalton McGuinty's government literally took food out of the mouths of hungry people, in the name of deficit reduction.

Budget delivers cuts not jobs

The 2010 federal budget stuck predictably to the Conservative dogma that there is no need for a fundamental change of course. One we get past the temporary hiccup of global and national recession, we must return to a world of ever-smaller government to be achieved through continued tax reductions and deep spending cuts.

Despite the fact that unemployment is and will remain very high -- forecast in the budget itself to average 8.5 per cent this year and 7.9 per cent next year -- temporary extensions of EI benefits will expire in September of this year and some 500,000 unemployment claims filed during the Great Recession will be exhausted before claimants can find a new job.

embedded_video

The uncomfortable truth behind Ontario's deficit politics

| February 11, 2014

Tackling Ontario's public services deficit

| February 4, 2014

The staying power of Ontario's deficit games

| January 30, 2014
Seth Klein

Assessing B.C.'s fiscal health: Can B.C. afford more deficits?

| April 18, 2013

The staggering future costs of the B.C. government's contracts

| July 30, 2012
Columnists

Fiscal 'crisis' in context: Two indicators

Net government financial debt

It's membership time. Cultivate Canada's media. Support rabble.ca. Become a member.

With all the predictions of doom and gloom coming from the austerity camp, one would think that Canada was already about to hit the famed (but never seen) "debt wall." Before we get too carried away, however, with the scary debt stuff, consider these two indicators of the fundamental fiscal fragility/stability of Canadian governments.

Ontario's 2012 budget: Completing the job Mike Harris started

| March 28, 2012
Syndicate content