You remember how the Liberals keep saying the Conservatives are running a deficit? While another nose stretcher has been put to bed. The July numbers are in from the Finance Department, and despite Liberal lies about deficit we are nowhere near it.
Sept. 26 (Bloomberg) -- Canada recorded a budget surplus in July that was 48 percent higher than the same month a year earlier because of rising revenue from income taxes.
The C$1.69 billion ($1.63 billion) surplus compares with a C$1.14 billion cushion in July 2007, the Finance Department said today from Ottawa. Revenue from income taxes rose 10 percent from a year earlier to C$13.9 billion, led by a 16 percent gain in tax revenue from companies.
The surplus for the first four months of the fiscal year that ends March 31 fell to C$2.91 billion from C$6.75 billion in the year-earlier period, according to the Finance Department. Still, the agency said last month that Canada is on schedule to post a surplus of C$2.3 billion this fiscal year as projected in Minister Jim Flaherty's February budget.
A Finance Department survey of economists released last month showed the economy will grow 1.1 percent this calendar year after adjusting for inflation, instead of the 1.7 percent forecast in Flaherty's budget.
Wait, I thought the Liberals said we were in deficit? Guess they were wrong again. Or, they refuse to look at the big picture and realize that you can't look at individual months, you need to look at the whole fiscal year.
It has been 4 months and we have accrued 2.91 billion year to date.
Of course Liberals also like to talk about "increased Conservative spending", and how they are spending so much more money then the Liberals would. What are the Conservatives spending the extra money on? Guns? Tanks? Kittens to be eaten? No, that is not right at all.
Program expenses in the period jumped 8 percent due to more costly transfer payments to provincial governments primarily for health, social programs and infrastructure.
Those evil evil Conservatives. How dare they give money to the provinces for health care, social programs and infrastructure! Pure unadulterated evil. /sarcasm
We're better off with Harper.
2 comments:
Give it a bit of time. The Libs will come out in a desperate move and accuse Flaherty of fudging the numbers and insist that there must still be a deficit. Hidden agenda. Hidden deficit. Blah Blah Blah.
Conservatives need to constantly remind the overtaxed middle class that the choices on the left all mean higher taxation. (real conservative)
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