Canada Balances it's Budget; Why Cant the USA?

[JimBowie1958]

https://news.yahoo.com/canadian-gov...DMTBsMm1uODllBGNvbG8DYmYxBHBvcwM4BHNlYwNzcg--

Canada's Conservative government looks set to comfortably balance its books in 2015 or even sooner, its latest budget showed on Tuesday, with cuts in spending on the public service more than offsetting a series of modest new expenditures.

The low-key spending plan leaves Prime Minister Stephen Harper well-positioned to offer tax breaks and other initiatives in the runup to an election scheduled for October next year.

"Some people will say this budget is boring," Finance Minister Jim Flaherty told reporters ahead of the budget speech. "Boring is good."

The budget shows a deficit of C$2.9 billion ($2.63 billion)in the 2014-15 fiscal year, up from the previous estimate of C$5.5 billion. That balance includes a C$3 billion contingency fund, which in fact reveals an underlying surplus that year.

Flaherty acknowledged the budget would be narrowly balanced this coming year without the contingency fund, but said he preferred to have a "nice clean surplus next year".

The government estimates a bigger-than-expected C$6.4 billion surplus in 2015-16. In the year ending March 31 of this year, the deficit is pegged at C$16.6 billion.

The Conservatives, in power since 2006, plunged into a deep deficit in 2008 as they pumped out stimulus money to deal with the recession after having cut taxes earlier. Previously, the Canadian government had an 11-year string of budget surpluses.

Why cant we do that?

Oh, yeah, because we let the thieves running our government hand out all those pork barrel goodies to the political machines that elected them.

Meanwhile we are facing the end of the gravy train in one fashion or another; either we wake up and do reform the responsible way and tighten our belts or the gravy train has a huge train wreck that harms a hundred times more people in greater magnitude.

CBO Director: 'Large and Growing Federal Debt' Could Produce 'Fiscal Crisis' | CNS News

On the same day House Speaker John Boehner said he would bring a "clean" debt ceiling bill to the House floor -- and join Democrats in voting for a 13-month extension of the debt limit -- the head of the Congressional Budget Office declared that the "large and growing federal debt" could eventually increase the risk of a "fiscal crisis."

"The large budget deficits recorded in recent years have substantially increased federal debt, and the amount of debt relative to the size of the economy is now very
high by historical standards," Elmendorf told the Senate Budget Committee.

-

Either way, this wont end pretty in all likelihood.

 

[eagle1462010]

Government - Interest Expense on the Debt Outstanding

415 BILLION last year on interest on the debt and growing............

No end in sight.

 

[Sunni Man]

Simple answer.

The "Chosen People" either own or control all of the major banks and financial institutions.

Plus they basically own the Federal Reserve.

So no.....we will never get out of debt or balance the budget.

Because the Jews want to keep the U.S. taxpayers money endlessly flowing into their greedy pockets. ..

 

[eagle1462010]

Simple answer.

The "Chosen People" either own or control all of the major banks and financial institutions.

Plus they basically own the Federal Reserve.

So no.....we will never get out of debt or balance the budget.

Because the Jews want to keep the U.S. taxpayers money endlessly flowing into their greedy pockets. ..

I agreed up until you stated the Jews did it............

Why do you have to add that point........................

 

[JimBowie1958]

Simple answer.

The "Chosen People" either own or control all of the major banks and financial institutions.

Plus they basically own the Federal Reserve.

So no.....we will never get out of debt or balance the budget.

Because the Jews want to keep the U.S. taxpayers money endlessly flowing into their greedy pockets. ..

I think you are misled about the Jews owning everything.

The Bank of England owns a whole lot as do the members of the Episcopalian church and their family of connected Protestant denominations.

Most of these institutions are fronted by Jewish people because it is one of the industries that Jews have been allowed to do for the last millennia and a half in the West, and so there are a whole bunch of them that go into the family business and end up at banks.

But the people who actually own the stocks, the accounts, the bonds and bills are main stream Protestant WASPs and they have the final say, even these days.

Don't be fooled by who is in front of the curtain, look who is behind it.

 

[eagle1462010]

Repeal the 17th.............

Go to the computer and hit the enter key to pay them back at 0% interest.

Cut the spending of Gov't to 18.1% of the GDP.................

Flat tax, no deductions.....................

And end the cycle of debt.................

 

[JimBowie1958]

Simple answer.

The "Chosen People" either own or control all of the major banks and financial institutions.

Plus they basically own the Federal Reserve.

So no.....we will never get out of debt or balance the budget.

Because the Jews want to keep the U.S. taxpayers money endlessly flowing into their greedy pockets. ..

I agreed up until you stated the Jews did it............

Why do you have to add that point........................

The Quran presents a bad light on the Jewish people. Which makes some things very ironic.

 

[eagle1462010]

Simple answer.

The "Chosen People" either own or control all of the major banks and financial institutions.

Plus they basically own the Federal Reserve.

So no.....we will never get out of debt or balance the budget.

Because the Jews want to keep the U.S. taxpayers money endlessly flowing into their greedy pockets. ..

I think you are misled about the Jews owning everything.

The Bank of England owns a whole lot as do the members of the Episcopalian church and their family of connected Protestant denominations.

Most of these institutions are fronted by Jewish people because it is one of the industries that Jews have been allowed to do for the last millennia and a half in the West, and so there are a whole bunch of them that go into the family business and end up at banks.

But the people who actually own the stocks, the accounts, the bonds and bills are main stream Protestant WASPs and they have the final say, even these days.

Don't be fooled by who is in front of the curtain, look who is behind it.

GAO Federal Reserve $16 Trillion Emergency Bailout Loans Audit Report | Public Intelligence

Yes, they are behind the curtain.........Revealed yet again by a Supreme Court decision forcing full disclosure............

 

[Jughead]

Canada Balances it's Budget; Why Cant the USA?

Because Canadians were smart enough to elect a Conservative government.

 

[zeke]

https://news.yahoo.com/canadian-gov...DMTBsMm1uODllBGNvbG8DYmYxBHBvcwM4BHNlYwNzcg--

Canada's Conservative government looks set to comfortably balance its books in 2015 or even sooner, its latest budget showed on Tuesday, with cuts in spending on the public service more than offsetting a series of modest new expenditures.

The low-key spending plan leaves Prime Minister Stephen Harper well-positioned to offer tax breaks and other initiatives in the runup to an election scheduled for October next year.

"Some people will say this budget is boring," Finance Minister Jim Flaherty told reporters ahead of the budget speech. "Boring is good."

The budget shows a deficit of C$2.9 billion ($2.63 billion)in the 2014-15 fiscal year, up from the previous estimate of C$5.5 billion. That balance includes a C$3 billion contingency fund, which in fact reveals an underlying surplus that year.

Flaherty acknowledged the budget would be narrowly balanced this coming year without the contingency fund, but said he preferred to have a "nice clean surplus next year".

The government estimates a bigger-than-expected C$6.4 billion surplus in 2015-16. In the year ending March 31 of this year, the deficit is pegged at C$16.6 billion.

The Conservatives, in power since 2006, plunged into a deep deficit in 2008 as they pumped out stimulus money to deal with the recession after having cut taxes earlier. Previously, the Canadian government had an 11-year string of budget surpluses.

Why cant we do that?

Oh, yeah, because we let the thieves running our government hand out all those pork barrel goodies to the political machines that elected them.

Meanwhile we are facing the end of the gravy train in one fashion or another; either we wake up and do reform the responsible way and tighten our belts or the gravy train has a huge train wreck that harms a hundred times more people in greater magnitude.

CBO Director: 'Large and Growing Federal Debt' Could Produce 'Fiscal Crisis' | CNS News

On the same day House Speaker John Boehner said he would bring a "clean" debt ceiling bill to the House floor -- and join Democrats in voting for a 13-month extension of the debt limit -- the head of the Congressional Budget Office declared that the "large and growing federal debt" could eventually increase the risk of a "fiscal crisis."

"The large budget deficits recorded in recent years have substantially increased federal debt, and the amount of debt relative to the size of the economy is now very
high by historical standards," Elmendorf told the Senate Budget Committee.

-

Either way, this wont end pretty in all likelihood.

Seems from what I just read about Canada and their tax system, they are a LOT more serious about collecting the tax revenue they need to run their country.

For instance, they collect taxes on income held outside of Canada. The province and the central government both collect income tax. They have some of the highest "sin" taxes in the world. They seem to understand that if you spend more money than you bring in that you will have to cut some spending and go get some more income. They also don't seem to have as many ways to reduce a persons tax liability.

They do treat capital gains and dividend income better and differently I think.

The Canadians just seem to be more pragmatic about their finances than we are. And the Canadians don't seem to hate their government like we hate ours. and consequently they aren't as mad about paying taxes. Hell at least they have national health care. And they don't try and support the biggest, most expensive military in the world. That helps them out a lot.

 

[JimBowie1958]

Repeal the 17th.............

Go to the computer and hit the enter key to pay them back at 0% interest.

Cut the spending of Gov't to 18.1% of the GDP.................

Flat tax, no deductions.....................

And end the cycle of debt.................

But who can bell the cat?

This thing will just have to run its course, it looks like.

Buy commodities you can trade in emergency, just in case the US dollar becomes nothing more than toilet paper.

 

[Jughead]

The low-key spending plan leaves Prime Minister Stephen Harper well-positioned to offer tax breaks and other initiatives in the runup to an election scheduled for October next year.

Exactly what we need in the US, a fiscally Conservative government.

 

[eagle1462010]

Repeal the 17th.............

Go to the computer and hit the enter key to pay them back at 0% interest.

Cut the spending of Gov't to 18.1% of the GDP.................

Flat tax, no deductions.....................

And end the cycle of debt.................

But who can bell the cat?

This thing will just have to run its course, it looks like.

Buy commodities you can trade in emergency, just in case the US dollar becomes nothing more than toilet paper.

The Status Quo from both sides bow to their masters..........They will never bell the cat...............

All we can do is hope more Status Quo politicians are fired by elections........But they have so much financial backing from these who need a bell that it's a very uphill battle.

The other way is to have a Constitutional convention by the people in the States........

Other than that, they run their course and destroy the dollar.

 

[JimBowie1958]

Simple answer.

The "Chosen People" either own or control all of the major banks and financial institutions.

Plus they basically own the Federal Reserve.

So no.....we will never get out of debt or balance the budget.

Because the Jews want to keep the U.S. taxpayers money endlessly flowing into their greedy pockets. ..

I think you are misled about the Jews owning everything.

The Bank of England owns a whole lot as do the members of the Episcopalian church and their family of connected Protestant denominations.

Most of these institutions are fronted by Jewish people because it is one of the industries that Jews have been allowed to do for the last millennia and a half in the West, and so there are a whole bunch of them that go into the family business and end up at banks.

But the people who actually own the stocks, the accounts, the bonds and bills are main stream Protestant WASPs and they have the final say, even these days.

Don't be fooled by who is in front of the curtain, look who is behind it.

GAO Federal Reserve $16 Trillion Emergency Bailout Loans Audit Report | Public Intelligence

Yes, they are behind the curtain.........Revealed yet again by a Supreme Court decision forcing full disclosure............

While Goldman Sachs ahs the rep of being Jewish owned and run, it's not at the top of the bailout list.

Citigroup, Morgan Stanley, Merril Lynch, Bank of America, etc WASP to the core.

 

[eagle1462010]

I think you are misled about the Jews owning everything.

The Bank of England owns a whole lot as do the members of the Episcopalian church and their family of connected Protestant denominations.

Most of these institutions are fronted by Jewish people because it is one of the industries that Jews have been allowed to do for the last millennia and a half in the West, and so there are a whole bunch of them that go into the family business and end up at banks.

But the people who actually own the stocks, the accounts, the bonds and bills are main stream Protestant WASPs and they have the final say, even these days.

Don't be fooled by who is in front of the curtain, look who is behind it.

GAO Federal Reserve $16 Trillion Emergency Bailout Loans Audit Report | Public Intelligence

Yes, they are behind the curtain.........Revealed yet again by a Supreme Court decision forcing full disclosure............

While Goldman Sachs ahs the rep of being Jewish owned and run, it's not at the top of the bailout list.

Citigroup, Morgan Stanley, Merril Lynch, Bank of America, etc WASP to the core.

Absolutely.

 

[JimBowie1958]

https://news.yahoo.com/canadian-gov...DMTBsMm1uODllBGNvbG8DYmYxBHBvcwM4BHNlYwNzcg--

Canada's Conservative government looks set to comfortably balance its books in 2015 or even sooner, its latest budget showed on Tuesday, with cuts in spending on the public service more than offsetting a series of modest new expenditures.

The low-key spending plan leaves Prime Minister Stephen Harper well-positioned to offer tax breaks and other initiatives in the runup to an election scheduled for October next year.

"Some people will say this budget is boring," Finance Minister Jim Flaherty told reporters ahead of the budget speech. "Boring is good."

The budget shows a deficit of C$2.9 billion ($2.63 billion)in the 2014-15 fiscal year, up from the previous estimate of C$5.5 billion. That balance includes a C$3 billion contingency fund, which in fact reveals an underlying surplus that year.

Flaherty acknowledged the budget would be narrowly balanced this coming year without the contingency fund, but said he preferred to have a "nice clean surplus next year".

The government estimates a bigger-than-expected C$6.4 billion surplus in 2015-16. In the year ending March 31 of this year, the deficit is pegged at C$16.6 billion.

The Conservatives, in power since 2006, plunged into a deep deficit in 2008 as they pumped out stimulus money to deal with the recession after having cut taxes earlier. Previously, the Canadian government had an 11-year string of budget surpluses.

Why cant we do that?

Oh, yeah, because we let the thieves running our government hand out all those pork barrel goodies to the political machines that elected them.

Meanwhile we are facing the end of the gravy train in one fashion or another; either we wake up and do reform the responsible way and tighten our belts or the gravy train has a huge train wreck that harms a hundred times more people in greater magnitude.

CBO Director: 'Large and Growing Federal Debt' Could Produce 'Fiscal Crisis' | CNS News

On the same day House Speaker John Boehner said he would bring a "clean" debt ceiling bill to the House floor -- and join Democrats in voting for a 13-month extension of the debt limit -- the head of the Congressional Budget Office declared that the "large and growing federal debt" could eventually increase the risk of a "fiscal crisis."

"The large budget deficits recorded in recent years have substantially increased federal debt, and the amount of debt relative to the size of the economy is now very
high by historical standards," Elmendorf told the Senate Budget Committee.

-

Either way, this wont end pretty in all likelihood.

Seems from what I just read about Canada and their tax system, they are a LOT more serious about collecting the tax revenue they need to run their country.

For instance, they collect taxes on income held outside of Canada. The province and the central government both collect income tax. They have some of the highest "sin" taxes in the world. They seem to understand that if you spend more money than you bring in that you will have to cut some spending and go get some more income. They also don't seem to have as many ways to reduce a persons tax liability.

They do treat capital gains and dividend income better and differently I think.

The Canadians just seem to be more pragmatic about their finances than we are. And the Canadians don't seem to hate their government like we hate ours. and consequently they aren't as mad about paying taxes. Hell at least they have national health care. And they don't try and support the biggest, most expensive military in the world. That helps them out a lot.

Our military budget is not the cancer that is eating the rest of the pie.

 

[tinydancer]

One has to remember that Prime Minister Harper has a Masters Degree in Economics and actually held paying jobs in the real world before becoming PM. He actually started off in the Mail room at Imperial Oil and worked his way up. And he never surrounded himself with ivory tower academics who never worked in the private sector.

 

[tinydancer]

Great layout at this link. The key is the reduction in spending. Please note what I highlighted in red. This is a sane approach to good governance and fiscal responsibility.

2014 federal budget by the numbers

OTTAWA — Tuesday’s federal budget is 419 pages of facts and figures. Here are the big spending figures you need to know about how much the government expects to earn and spend this year.

Revenues

• Income tax revenues: $137.8 billion
• Corporate Income tax revenues: $37 billion
• Non-resident income tax: $5.7 billion
• Goods and Services Tax: $31.3 billion
• Customs import duties: $4.4 billion
• Other excises taxes and duties: $11.3 billion
• Employment Insurance premium revenues: $22.7 billion

Transfers

Transfers to persons

• Elderly benefits: $43.8 billion
• Employment Insurance benefits: $17.7 billion
• Children’s benefits: $13.2 billion

Major transfers to other levels of government

• Support for health and other social programs: $44.7 billion
• Fiscal arrangements: $19.4 billion
• Cities and communities (gas tax fund): $2 billion
• Other: $200 million
• Other transfer payments: $113 billion
• Public Debt charges: $29 billion

Total revenues: $276.3 billion

• Total expenses: $279.2 billion
• Shortfall/Deficit: $2.9 billion

Balancing the budget:

• Projected deficit 2014-15: $2.9 billion
• Projected surplus 2015-16: $6.4 billion
• Projected surplus 2016-17: $8.1 billion
• Projected surplus 2017-18: $8.1 billion
• Projected surplus 2018-19: $10.3 billion

Total projected surplus over next five years: $30 billion

How the government is spending your money:
• $222 million per year over four years for labour market agreements for persons with disabilities (to be matched by provinces and territories)
• $40 million to help entrepreneurs through the Canada Accelerator and Incubator Program
• $75 million over three years to help older workers find jobs for the Targeted Initiative for Older Workers
• $1.5 billion over 10 years to help colleges anduniversities invest in world-class research, for the new Canada First Research Excellence Fund
• $500 million over two years to the Automotive Innovation Fund to help Canada’s automotive industry
• $305 million over five years to provide broadband Internet service to rural and Northern communities
• $15 million over three years to help persons with developmental disabilities find work through the Ready, Willing & Able initiative
• $66.1 million over two years for commercial fisheries programs on the Atlantic and Pacific coasts
• $70 million over three years to boost health services in the North
• $391.5 million over five years to improve roads, dams and bridges in national parks and historic canals
• $10 million for snowmobile trails across the country
• $165 million over two years for the construction of a new bridge over the St. Lawrence River
• $378 million over two years to repair and maintain federal bridges in and around Montreal, including the Champlain Bridge
• $497 million over two years for the Windsor-Detroit crossing
• $390 million over five years to the food safetysystem
• $10.8 million over four years to the Special Olympics Canada
•$200 million over five years to create the National Disaster Mitigation Program, including $11.4 million to upgrade earthquake monitoring

Jordan Press, Postmedia News

Great graphics at the link as well. Thank you Jim Flaherty for keeping your fiscal stick on the ice!!!

Canada budget 2014 looks to slash public servants? benefits in effort to save billions | National Post

 

[OnePercenter]

The low-key spending plan leaves Prime Minister Stephen Harper well-positioned to offer tax breaks and other initiatives in the runup to an election scheduled for October next year.

Exactly what we need in the US, a fiscally Conservative government.

More tax breaks for the rich! Yeah baby!!!!!

 

[OnePercenter]

You're forgetting that Clinton balanced the budget......But then came Bush.

The Budget and Deficit Under Clinton