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Tax Cuts

[Posted on : 2013-02-07 by Sutouch] It was the tax cuts PLUS the record benrkiag government spending PLUS the evisceration of the Liberals contingency fund WHICH WAS SET UP SPECIFICALLY FOR THIS TYPE OF ECONOMY.
Obama is going to be running nearly trillion dollar deficits for most of his first term. The Canadian economy is roughly a tenth of the size of the US economy, so those deficits would correspond to a hundred billion dollar deficits in Canada.Canada's share of the big three automobile bailout is likely to be at least $5 billion.The deficits that Canada are going to run in parallel to support Obama's and the worlds economy recovery plan are ultimately going to be in the tens of billions of dollars. Whether a puny $3 billion contingency fund exists or not demonstrates a complete lack of understanding of the scope of the economic crisis the world faces.The billions that Harper has pre-emptively doled out to the provinces will be seen as prescient, since Canadian provinces will be in much better fiscal shape heading into the crisis than American states will be.I believe that Gordon Brown and Alistair Dowling are about to announce a cut in Britain's value-added-tax (their version of the GST). You know the Gordon Brown who pressured Europe and the States about the correct way to bail out the banking system a couple of months ago. And last time I checked, they were a Labour government, cutting their bloody VAT..The game has changed. The Liberal Party has to change its rhetoric pretty soon, and be willing to put forward constructive ideas in response to this crisis rather than criticize Harper for running deficits, which will be the correct thing to do, which will be what Obama and the entire world will be doing.

Palauan and Proud to be!

[Posted on : 2012-09-26 by Nelson Sisior] Palauan and Proud to be!

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