With no one home the Canadian Federal Government, two days before Christmas released this report:
‘Update of Long-Term Economic and Fiscal Projections’
Great time for release wouldn’t you say? This open , transparent, accountable Liberal government snuck the report into the pubic domaine as Santa Clause was getting the reindeer ready and you and I were shopping.
Of course,the reason for the subterfuge is obvious. As I have been ranting for months now , a leader that promises deficits , gets elected, delivers that promise will soon have to answer for that fiscal irresponsibility . Did anyone think he could get away with that? And to do it when our best export commodity was in the tank , price wise and then to complicate our competitiveness with more taxes and regulation.
The report looks out to 2055 and sees continued deficits till then . What was the promise ? A balanced budget by 2019? And the promise of only a $10 billion deficit this year. It is $27 billion.
Now, I agree all this has to be taken with a grain of salt given the long time line but it does tell you something about the thinking in the Department of Finance.
Now , its all the economy that’s to blame.
NOTHING ABOUT WHO AND WHAT MADE IT WORSE THAN IT WOULD HAVE BEEN!
Now there is mention in the report that if the economy does better than projected, that we get competitive through productivity , better skills and innovation then a better outcome is possible.
But who can see this happening ?
We are not as productive as the Americans , and have not been for many years now ; we do not innovate like the Americans either through Government policy or the private sector . And we are in the process of seeing more regulation and taxes . Meanwhile , to our south regulation is about to get streamlined , taxes to become lower , and a far more agressive pro America trade policy pursued.
And we got some ways to go to have a culture of excellence and entrepreneurship as a national traits, I submit .
One thing is certain as history clearly shows –the name Trudeau is not associated with fiscal prudence and business acumen .
A heap of coal for Christmas.