Defend Public Healthcare: Ontario is not sinking into deficit: Better public services can be won

The Financial Accountability Office (FAO) predictssignificant deficits over the next several years – despite also predicting significant economic growth. Using the government’s accounting method, the FAO is predicting budget deficits of $0.5 billion this year, increasing to $3.6 billion in 2021-22.  If the FAO is right then we do have a problem in terms of building ...

Canadian Political Viewpoints: Going for a New Record, Perhaps?

Source: CBC News: Sask. Now Projects $1B Deficit for 2016-2017Source: CJME News: $1B Deficit Forecast for Saskatchewan by End of April I did say I would get to the growing deficit eventually. So, at a time when the Finance Minister Kevin Doherty is arguing with former NDP MLAs and candidates on Facebook, to our Premier ...

Canadian Political Viewpoints: Going for a New Record, Perhaps?

Source: CBC News: Sask. Now Projects $1B Deficit for 2016-2017Source: CJME News: $1B Deficit Forecast for Saskatchewan by End of April I did say I would get to the growing deficit eventually. So, at a time when the Finance Minister Kevin Doherty is arguing with former NDP MLAs and candidates on Facebook, to our Premier ...

Defend Public Healthcare: Health Care and the Budget: Not Much

Health care and hospital funding: Despite significant new revenue and lower than expected debt costs, health care spending is almost exactly identical to the amounts planned in last year’s Budget for 2015-2018.  The total health budget for 2015/16 came in (on an “interim” basis) basically the same as planned in the 2015 Budget (that is ...

The Disaffected Lib: Paul Martin Gives Tommy Angry Beard a Well-Deserved Kick in the Ass.

Paul Martin was the finance minister who plucked the federal government from the brink of fiscal chaos. It was a tough time for all including the provinces, even the Canadian Forces, but he balanced the budget and paid down $90 billion of our national debt. He kept the bankers in line and when he handed ...

Trashy's World: The CPC, liars since 2006…

Yeah, forget about the Parliamentary Budget Office saying that we are already in deficit. Like, what do they know? The Harper Reform Party – lying comes so naturally to them.    (0) Trashy, Ottawa, Ontario

Defending Public Healthcare: Ontario’s answer to the deficit: 35 years of revenue cuts

In a recent long-term report on the economy, the Ontario government recognized that own-source Ontario government revenue as a percentage of gross domestic product (GDP) has declined over the last fifteen years.  The decline is equal to 2 percentage points of the province’s GDP. That is more than $14 billion.  With that revenue, the deficit ...

Defending Public Healthcare: Rising inflation and a shrinking Ontario deficit?

Revenue prospects for this year:  An earlier post looked at poor job creation in Ontario and the impact that might have on obtaining the revenue goals the government has set for this year. Last week’s jobs report for July was  dreadful on a Canada-wide basis.  But the report noted Ontario saw some pick up in July, with 15,100 new jobs. However, ...

Defending Public Healthcare: Deficit? Public spending ain’t the cause. Revenue, however…

With the election over, pressure to cut public programs has become quite intense. In almost all of the corporate owned media someone is barking on about it. Another option — increasing revenue from the wealthy is not mentioned.  However, data clearly indicates that Ontario does not have an overspending problem compared to the other provinces. ...

Pushed to the Left and Loving It: Canada’s New Parliamentary Budget Officer Doesn’t Disappoint – Stephen Harper

After former Parliamentary budget officer Kevin Page locked horns with the Conservatives over their voodoo math, he was replaced by someone whose inexperience would be much easier to manipulate. Not that Jean-Denis Frechette isn’t a nice man, but as Michael Warren noted of his appointment, in the Star: … the appointment of Jean-Denis Frechette as ...

The Sir Robert Bond Papers: How do they run things? Budget Lead-Up #nlpoli

Finance minister Charlene Johnson will read the new provincial budget speech on Thursday. In keeping with the provincial Conservative tradition, though, they’ve been announcing bits and pieces of the budget already.  On Monday, for example, justice minister Darin King announced that the new budget would contain money for 20 new sheriff’s officer to provide court ...

Writings of J. Todd Ring: The rise of Bitcoin: and the challenge to the global domination of big money

The following article was written on October 25. I wanted to read it over once more before publishing it, then got busy with other things and forgot about it. In the roughly six weeks that have passed since the writing of this article, the Bitcoin prices have gone from roughly $200 to over $700. There ...

Writings of J. Todd Ring: US government shutdown, and other fairy tales and political theatre

I’m not sure what to make of the hoopla going on in the US right now. I’m inclined to think it’s all just political theatre, as Gerald Celente calls it, designed to distract the people from the real issues – the central one being, who controls the government and the nation? Wall Street, the big ...

Progressive Proselytizing: Obama tries to regain the narrative on the Sequester

When Obama decided to give back 5% of his salary to the Treasury, he made a political move not done since Herbert Hoover. In so doing, he undoubtedly aims to reclaim the momentum and the narrative on the Sequester that has been lost over the last month.Before the Sequester was implemented, public opinion was largely on Obama’s ...

The Canadian Progressive: Federal Budget 2013 Must Focus on Job Creation, Not Cutbacks, CAW Says

By: Canadian Auto Workers Union | Press Release TORONTO – The CAW is calling on federal Finance Minister Jim Flaherty to focus on job creation, not more spending cutbacks in his 2013 budget, to be unveiled tomorrow. “Canada’s public debt is small, relative to past history and to the debt problems faced in other […] The post Federal Budget ...

The Canadian Progressive: Ontario’s 2012 austerity measures causing an economic slowdown: Report

Press Release | Posted Mar 18, 2013 Ontario’s experiment with austerity in 2012 is contributing to an economic slowdown that demands a different course of action in 2013, says a new report by the Canadian Centre for Policy Alternatives’ Ontario office (CCPA-Ontario). The report, by CCPA-Ontario Director Trish Hennessy and CAW economist Jim […]

The Canadian Progressive: 2013 Alternative Fed Budget: Water crisis needs long-term plan, not cuts

By:  Council of Canadians (Press Release) With the next federal budget fast approaching, the 2013 Alternative Federal Budget (AFB), Doing Better Together, released today, warns that the “Harper government’s cuts to the Experimental Lakes Area (ELA) and other critical environmental programs will hinder the ability to develop freshwater policies and respond to threats to […]

The Scott Ross: How A Bad Economy Is Not Harper’s Fault

Canada’s economy is set to grow less than the government thought, but it’s not our Prime Minister’s fault. True under Stephen Harper the World Bank has downgraded Canada from being the 4th most Business Friendly country in 2006 to 17th in 2013, but, as most Conservatives know, businesses have nothing to do with the Canadian ...

Song of the Watermelon: Some Thoughts on the BC Budget

Five months ago, I predicted that the Liberal government of British Columbia would fail in its effort to balance the 2013 budget. Notwithstanding this week’s boastful headlines to the contrary, the jury is still out. I will not assert, as many others have done, that the surplus is purely fictional, but rather that, for the ...

The Sir Robert Bond Papers: If the next two years are bad… #nlpoli

No surprise that on the day after natural resources minister Jerome Kennedy talked about looming deficits of pre-1934 proportions that the ruling Conservatives did two things. First, backbencher Paul Lane reinterpreted Kennedy’s comments on VOCM Open Line with Randy Simms.  There will only be big deficits, says Lane, if we don’t do anything about it.  ...

Defending Public Healthcare: Attack on free collective bargaining political, not fiscal

In December, it was predicted that outgoing finance minister Dwight Duncan would   reduce his deficit forecast just before his departure (for Bay Street).  Duncan had somehow estimated in his fall economic statement that the 2012-3 deficit would be  $14.4 billion, i.e. higher than the 2011-12 deficit  — and even higher than the 2010-11 deficit! Sure enough, ...

The Scott Ross: If A Fiscal Cliff Kills, Canada Should Tax Death

“In this world nothing can be said to be certain, except death and taxes.” – Benjamin Franklin The fiscal cliff in the United States did not just endanger its own country’s economy but the world’s, including Canada’s heavily dependent one. But in the American problem lies, at least partially, a Canadian solution: an estate tax. ...

The Scott Ross: Canadian National Debt Growing Faster Than GDP

Canada’s debt is growing faster than our ability to pay for it. Since 2008 Canadian public debt has been growing faster than our GDP. Though there are many warning signs of economic trouble, there is no clearer caution of a potential crisis than when a country’s government is increasing its debt faster than its GDP. ...

The Scott Ross: Conservative Fiscal Deficits & Ignorant Surpluses

Though many would say that fiscal deficits from this Conservative government are the most worrying, their lack of economic knowledge is far more dangerous. Before showing the economic ignorance of Conservative MP Pierre Poilievre a quick introduction to terminology is needed. When speaking of our debt there is a basic yet important distinction, gross debt ...

The Scott Ross: Now Americans Need To Follow Republican Lead

Voters showed the Republican Party doesn’t represent America, but in losing the election and now facing hard choices, for America’s sake, perhaps Republicans should. For today, after losing the Presidency, again, and additional senate seats, Republicans have realized that their difficulties were caused by themselves and that they need to change; Americans with their structural ...