Thursday, March 11, 2010

budget watchdog says harper's budget plans fall $10 billion short

Posted by Christian  |  at  11.3.10

Has stephen harper been right about anything during his reign as ruler? Does he actually have a degree in economics, and if so, where did it come from? A gum ball dispenser perhaps?

At any rate, Parliamentary budget watchdog Kevin Page says while he and jet setter Jim Flaherty generally agree over the short term forecast, the harper clowns are far too optimistic about how quickly they will be able to balance the budget.

Last week's budget predicted a $53.8-billion deficit at the close of this fiscal year, falling to $1.8 billion in 2014-15.

Page said the deficit will likely still be $12.3 billion at that time.

The disparity stems from Page projecting $6 billion less in corporate tax revenues, and about $4.5 billion higher spending, in part due to higher service charges on the national debt
Page is not saying it can't be done, but additional measures will be needed. A spokesperson for Flaherty dismissed Page's projections because his private sector buddies say Jim is the awesome.


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