Friday, May 15, 2009

Deficit or Debt? No, they are not interchangeable words

Oh dear god, sometimes I wonder why I even bother reading the Libloggers! One of their bloggers had a posting that caught my eye on the aggregator mostly because I knew it would be easy picking to take apart, and hey, I am feeling lazy tonight.

RGM Unlimited was pontificating about the 85 billion dollar deficit, and how Stephen Harper was saying how it could be bigger if required when he addressed a group of Quebec mayors.
  1. All you lefties whined and cried to get deficit financing to help the "needy". You all whined when the budget came down, and made clucking sounds about how it wasn't enough. Now you whine if it might get bigger? You're all taking your cues from iffy.me and are flip-flopping around like a dying fish.
  2. It's not a 85 billion dollar deficit, unless you mean, a cumalative over 5 years. Or perhaps better sad, the Canadian government will be adding ~85 billion to the Canadian debt over the next 5 years. Stop trying to scare people with big numbers
And no, I don't find those figures acceptable.

1 comment:

Anonymous said...

I agree. WQhat if the Canadian DEBT at these days? About $480 BILLION that we pay interest on every year???

So, what is all of this gnashing of teeth that Harper is mortgaging our children's future? That mortgage started under Trudeau.

The Liberals did not "slay the debt" - they just dipped Liberally into the EI Funds, program and provincial transfer funding and the Pension Funds to not pay out more each year than they took in.

Harper paid off $30 BILLION in less than 3 years and isn't the rational formula to get the DEBT down to where the payments are only a certain percentage of GDP - not sure what that number is?