Federal deficit to be larger than projected

4 posts / 0 new

Wed, 2009-03-25 17:38

Doug

Canada's budget watchdog says the federal government is likely to fall about $9-billion further into the hole over the next two years than the budget projected in January.

Parliamentary budget officer Kevin Page told a Commons committee Wednesday that the economy has deteriorated so much since the January budget that any stimulus from increased government spending will have been swamped by lower growth.

Mr. Page says Ottawa will record a deficit of about $38-billion this fiscal year and $35-billion in 2010-11, about $9-billion more over the two years than Ottawa projected.

http://www.theglobeandmail.com/servlet/story/RTGAM.20090325.wPOLpage0325/BNStory/politics/home

Not surprisingly, the Conservative budget assumptions weren't worth the paper they were printed on.

Wed, 2009-03-25 20:44

Fidel

So they were off by several billion dollars' worth of public debt. And maybe double the actual growth rate was down to banksters' opitmism. Us working class slobs have to cut'em some slack now and then. It's not like theyre paid very well to study these things, or anything. Much will have more at the expense of many

Wed, 2009-03-25 23:24

thorin_bane

Both Page and Dodge are going to get their pee pees whacked by harper for disagreeing with his do nothing approach while the cowardly liberals sit there like a bobblehead Dog, tongue hanging out and agreeing. Yes because they understand that due to an entirely branch plant economy that they created we are powerless to do anything unless we start to nationalize and we couldn't have that now could we.

Wed, 2009-03-25 23:40

Doug

It's pretty amazing though, if you consider it. All that hacking and slashing during the Chretien-Martin years and here we are now facing a deficit almost as big.