"The department's monthly fiscal monitor shows government revenues hit a wall in March as corporations began taking large refunds on prepaid tax, and more laid-off Canadians stopped paying taxes.
The net effect was that Ottawa lost $3.6 billion in March, closing the books on the 2008-2009 fiscal year $2.2 billion in the hole."
Now I'm guessing that it will be no time at all before Ignatieff, Goodale, and Chevy McCallum are puffing their chest screaming that this is further proof of the finance ministers incompetence. But I think this might be one of those times where they might want to keep their mouth's shut. March is traditionally a bad month for the government in terms of deficit.
And as proof I present Exibit "A"
-There was a budgetary deficit of $1.2 billion in March 2008
-There was a budgetary deficit of $0.4 billion in March 2007
-There was a budgetary deficit of $1.1 billion in March 2006
-There was a budgetary deficit of $9.5 billion in March 2005
-There was a budgetary deficit of $1.2 billion in March 2004
-There was a budgetary deficit of $4.4 billion in March 2003
-There was a budgetary deficit of $4.9 billion in March 2002
-There was a budgetary deficit of $0.5 billion in March 2001
-There was a budgetary deficit of $31 million in March 2000
-There was a budgetary deficit of $1.7 billion in March 1999
-There was a budgetrary deficit of $1.8 billion March 1997
-There was a bugetary deficit of $1.1 billion in March 1996.
All figures taken from the Fiscal Monitor. No results from previous years available. Conservative deficits in blue, Liberal deficits in red.
And still the OPPOSITION PARTIES SCREAM FOR MORE MONEY. Or else face a COALITION.
ReplyDelete-There was a budgetary deficit of $9.5 billion in March 2005
ReplyDeleteNo doubt that deficit was covered off by Martin/Goodale raiding the EI fund!
Good digging. This is important info that MUST the general public needs to know.
ReplyDeleteThe Libs and their cheerleader MSM have kept us in the dark for all these years. Thank God for the internet and the blogs.
All the Liberals were doing was playing the old shell game. Stealing from EI, pensions, etc.
They weren't that good of stewards of the public purse.
Can somone explain why March, is such a bad month for government revenue?
ReplyDeleteThose are some crazy stats.
Many companies prepay their taxes. When they file in March those tax refunds come out of March expenditures.
ReplyDeletepaulsstuff said...
ReplyDeleteMany companies prepay their taxes. When they file in March those tax refunds come out of March expenditures.
May 29, 2009 3:36:00 PM PDT
Thanks Paul, that makes sense..
Wow, March is a bad month for government revenue.
What do you think of the situation today had the liberls not gutted the E.I. nor made drastic cuts to the infrastructure, health, education, military, provinces etc.
ReplyDeleteCan you imagine the billions of dollars we would have today.
The bulk of the money to pay for those area will not have been severe.
What's hypocritical of the liberals is that they considered the money from the drastic cuts as SURPLUS.
And the amazing thing PAUL, there was no global nor recession crisis.
Guess who has the responsiblility to pay into those liberals' neglected areas? PM.STEPHEN HARPER at a time like this.
Had the liberal not stolen, man, we will be flowing in billions of dollars.
I take it from the liberals media they are not interested in canadians but IN LPOC ONLY.
o/t
ReplyDeletea couple of articles today got me thinking, that Canadians are fed up with minority governments.
(remember the ROC gave PMSH a majority)
''The poll also provides fuel for those who argue Canada should have a majority government to steer it through tough economic times. Most respondents (58%) said the three successive minority governments in the past few years have weakened the government's capacity to act.
Despite it all, 58% still believe Canada is headed in the right direction.''
http://www.ottawasun.com/news/canada/2009/05/30/9621291-sun.html
And a second very good article,
ReplyDeleteand points out that successive minority governments is the reason the deficit is so huge:
Both prime ministers increased spending and cut taxes, so that in this recession we are going into the hole faster than would otherwise be the case.
This is an inevitable byproduct of minority governments, because prime ministers are forced to throw money at political problems to avoid immediate threats.
the last line:
...Conservative attack ads say Mr. Ignatieff is "just in it for himself."
They are designed to make it impossible for Mr. Ignatieff to do what he wants to do — force an election — because he would be reinforcing their message, unless he has a good reason, which he doesn’t.
http://thechronicleherald.ca/Opinion/1124786.html