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

[DennyO]

Lol, they once were not 'walking their talk' but now they are, dude, and they have balanced their budget for 12 of the last 13 years.

How long ago did you work in Canada?

What I wrote is that in the U.S., the Republicans, the supposed party of fiscal integrity, have not balanced the budget, and have seemingly over time done worse at that task than the Democrats.

I worked in Canada from 1994 to 2005. It seems that he Liberals did a better job there of cutting government spending than the Conservatives did. The conservatives brought in the GST, a value added tax, but still ran a large deficit. Paul Martin, a business executive, did a great job as finance minister and it was his endless chopping that led them to produce a balanced budget. Not without a lot of pain.

 

[Toro]

It's hard to lead a country for more than 8 years without the public getting fatigued with you, and if PM Harper runs in 2015, he'll be doing so after having served 9 years.

Who do you think would be the Prime Minister?

 

[Chaussette]

It's hard to lead a country for more than 8 years without the public getting fatigued with you, and if PM Harper runs in 2015, he'll be doing so after having served 9 years.

Who do you think would be the Prime Minister?

JUSTIN TRUDEAU!!!!!!!

My man's going to legalize weed and make Canada cool again.

 

[tinydancer]

PM Harper's government will finally balance the books after growing the debt by a third.

Harper inherited 10 years of surpluses in 2006 (that year the surplus was over $13 billion). Like a typical modern conservative, he started to piddle it all away and the surplus for 2007 was less than half the $13 billion of the year before.

Deficits every single year since. The Canadian debt had been lowered to just under $450 billion under the Chretien administration, but the Canadian conservatives made sure to send the debt back up as they always do with their curious and illogical blend of tax cuts for top income earners and even MORE public spending.

The current Canadian debt is now roughly $620 billion.

That they're only going to break even because of big public service cuts heading into a general election year is even more curious.

It's hard to lead a country for more than 8 years without the public getting fatigued with you, and if PM Harper runs in 2015, he'll be doing so after having served 9 years.

Well another one who doesn't know the finer points of finance under Harper and Flaherty.

Let me tackle your snotty remarks about tax cuts for the rich and more public spending.

Right from the get go you are full of shit for not recognizing that Harper kept to his campaign promise to reduce our GST from 7 to 5%.

That was a massive tax cut for every level of income earner.

And for anyone to say that's not a big deal, calculate the 2% savings on buying a $200,000 home, or $40,000 truck and on every thing else in the ordinary Canadians day to day life.

They had kept the surplus rolling before the world wide recession hit.

Of course when that whole shmazzola hit of course the governement had to commit more money to public spending. It was called "stimulus" and every country was trying to shore up their economies and any nit wit would realize that this phenomena of stimulus spending was occurring world wide.

And Flaherty has managed the economy far better than any other Finance Minister in the G20.

Here's a great piece by one of Jean Chretien's and other liberals right hand man. Warren fits the description of "uber liberal" perfectly.

Kinsella rightfully brings up a couple of solid criticisms of Flaherty, but his op ed praises Flaherty as he says begrudgingly .


In grudging praise of Flaherty

By Warren Kinsella ,QMI Agency

(EDITOR'S WARNING: If you are a federal Conservative, this column may make you faint. You are advised to immediately locate the smelling salts and lay down on the couch before proceeding any further.)

Yes, folks, it's true: I am about to say something nice about Finance Minister Jim Flaherty. Me, the resident Bolshevik at Sun Media. Me, the guy who never met a Conservative he didn't like.

Here goes: Over the past few days, in which economic turmoil has left quite a few of us feeling exceedingly nervous, Jim Flaherty has been doing a not-bad job. A good job, even.

There, I said it.

In the wake of Standard and Poor's idiotic downgrade of the credit of rating of the United States --* and in the wake of the ongoing debt crisis unfolding across the European Union --* Flaherty has been a voice of calm and rationality.

Through it all, the Lilliputian finance minister has done what he should have done -- he reminded everyone our economic fundamentals are rock-solid. Our banking system is secure.

Our lending practices are sane.

Our economy is turning the corner. And, unlike the U.S. of A., we still have a triple "A" credit rating. We are in good shape.

AND Some of his biggest accomplishments besides the reduction of the GST tax for all Canadians.

Tax-Free Savings Account

In Budget 2008, Flaherty introduced the Tax-Free Savings Account (TFSA), a flexible, registered, general-purpose savings vehicle that allows Canadians to earn tax-free investment income to more easily meet lifetime savings needs.................

Flaherty's measure was supported by many organizations, including the C.D. Howe Institute, which stated: "This tax policy gem is very good news for Canadians, and Mr. Flaherty and his government deserve credit for a novel program

EUROMoney Magazine

In 2009, Flaherty received an award from EUROMoney Magazine, naming him Finance Minister of the Year. Flaherty's is the first Canadian to hold this honour.

It says he "enhanced his country's reputation for sound fiscal policy that takes full account of social justice, while a strong regulatory regime has kept the financial sector out of the chaos."

Jim Flaherty - Wikipedia, the free encyclopedia

 

[tinydancer]

Lol, they once were not 'walking their talk' but now they are, dude, and they have balanced their budget for 12 of the last 13 years.

How long ago did you work in Canada?

What I wrote is that in the U.S., the Republicans, the supposed party of fiscal integrity, have not balanced the budget, and have seemingly over time done worse at that task than the Democrats.

I worked in Canada from 1994 to 2005. It seems that he Liberals did a better job there of cutting government spending than the Conservatives did. The conservatives brought in the GST, a value added tax, but still ran a large deficit. Paul Martin, a business executive, did a great job as finance minister and it was his endless chopping that led them to produce a balanced budget. Not without a lot of pain.

Martin could NOT have balance the budget without the GST. I have given Finance Minister credit where credit is due.

One piece of the puzzle you have forgotten to mention.

The Conservatives were thrown out of office because of the introduction of the GST and Jean Chretien winning the election for promising to eliminate the GST. He was going to do so by replacing it with a mish mash of other taxes, but all the public heard was that the GST would be gone.

Thank goodness Martin talked the Prime Minister out of it.

Oh and how in the short time before they were thrown out of office due to the unpopular tax could they have balanced the budget when the debt had been growing for decades?

They didn't have the time. It came into effect in 1991.

Now back to Martin. One more time credit where credit is due. He took a lot of heat to get us to a balance budget and he has earned my respect for forever.

 

[Ropey]

Justin Trudeau - Under Liberal Leadership the Budget Will Balance Itself

He inherited his mothers looks and brain and none of his father's smarts.

 

[History]

The United States needs a Constitutional Amendment that requires a Balanced the Budget..

 

[Chaussette]

Justin Trudeau - Under Liberal Leadership the Budget Will Balance Itself

He inherited his mothers looks and brain and none of his father's smarts.

Good, his father was a traitor to his own people and sold them down the river in Ottawa to the English to garner favor with the Queen of England.

 

[Toro]

It's hard to lead a country for more than 8 years without the public getting fatigued with you, and if PM Harper runs in 2015, he'll be doing so after having served 9 years.

Who do you think would be the Prime Minister?

JUSTIN TRUDEAU!!!!!!!

My man's going to legalize weed and make Canada cool again.

"Stoners for Trudeau."

Sounds like a winner.

 

[jillian]

Either way, this wont end pretty in all likelihood.

canada manages to provide healthcare for its citizens, like every other civilized nation.

why can't we?

 

[JimBowie1958]

Either way, this wont end pretty in all likelihood.

canada manages to provide healthcare for its citizens, like every other civilized nation.

why can't we?

Because we know the vast majority of us can provide for our selves and don't need libtards using the government to do for us what we can do for ourselves.

 

[C_Clayton_Jones]

Either way, this wont end pretty in all likelihood.

canada manages to provide healthcare for its citizens, like every other civilized nation.

why can't we?

Because we know the vast majority of us can provide for our selves and don't need libtards using the government to do for us what we can do for ourselves.

Everyone else understands a false analogy fallacy, why can’t the OP?

 

[tinydancer]

Either way, this wont end pretty in all likelihood.

canada manages to provide healthcare for its citizens, like every other civilized nation.

why can't we?

Well to provide "free healthcare" we pay extraordinarily high taxes. All of us above the poverty line.

You don't. Go ahead and make all Americans except for the poorest pay a VAT or GST of 5% to 7% on everything you purchase including services like a taxi ride.

You can have "free healthcare" too.

And Jillian. My free healthcare system shut down my ER to save money. My funeral home half an hour away is closer than my new ER which is an hour away. Provinces mess with your health care all the time.

It is by no means a perfect system. I've been pushing for a full scale two tier system for years now.

Too bad your idiots in Washington didn't take the time to truly study health systems in the world that really work such as in France and Sweden.

 

[Jroc]

Either way, this wont end pretty in all likelihood.

canada manages to provide healthcare for its citizens, like every other civilized nation.

why can't we?

Canada also produces lots of fossil fuels, if we exploited our own resources to its fullest extent we could be at a balanced budget as well, plus Obamacare is not "Healthcare for all" it's a bunch of crony deals and payoffs. Even if one doesn't care for Canada style healthcare system, it's probably better than Obamacare which needs to be repealed.

 

[Ropey]

Canada's social healthcare system is for ~35 million people. Considering the vast country and small population of this socialized health care system (that has my wife travelling to the US for surgery) that is in a period of transition to a two payee system it is fairly clear that major work will be done on this system while the baby boomers are reaching a saturation point.

It's a pyramid scheme that the Federal Government is trying to blunt while keeping it in motion. :|

The liberals just gave too much away.

 

[JimBowie1958]

canada manages to provide healthcare for its citizens, like every other civilized nation.

why can't we?

Because we know the vast majority of us can provide for our selves and don't need libtards using the government to do for us what we can do for ourselves.

Everyone else understands a false analogy fallacy, why can’t the OP?

Where is the proof it is a false analogy, you lying ass hole?

roflmao

 

[Toro]

Either way, this wont end pretty in all likelihood.

canada manages to provide healthcare for its citizens, like every other civilized nation.

why can't we?

Canada also produces lots of fossil fuels, if we exploited our own resources to its fullest extent we could be at a balanced budget as well, plus Obamacare is not "Healthcare for all" it's a bunch of crony deals and payoffs. Even if one doesn't care for Canada style healthcare system, it's probably better than Obamacare which needs to be repealed.

The Federal government of Canada doesn't receive revenues from natural resources. Those go to the provinces.

 

[Jroc]

canada manages to provide healthcare for its citizens, like every other civilized nation.

why can't we?

Canada also produces lots of fossil fuels, if we exploited our own resources to its fullest extent we could be at a balanced budget as well, plus Obamacare is not "Healthcare for all" it's a bunch of crony deals and payoffs. Even if one doesn't care for Canada style healthcare system, it's probably better than Obamacare which needs to be repealed.

The Federal government of Canada doesn't receive revenues from natural resources. Those go to the provinces.

yeah so?....Producing energy generates wealth, puts people to work and stimulates the economy. Anything else? our federal government taxes it here, so do the states. We could eliminate our budget deficit with energy production alone. It provides good paying jobs. Obama's not interested in that though

 

[Nutz]

canada can balance their budget because they are nothing more than leeches on the US economy. They have no budget for defense because the US defends them.

 

[Dragonlady]

There is so much misinformation about Canada in this thread, especially coming from Tiny Dancer who knows dick about Canadian politics.

What saved Canada from Bush's recession wasn't Paul Martin's balanced budget, it was Martin's refusal to deregulate Canada's banking system to bring it onto line with what was happening in the US at the turn of the century.