The new season of the Rick Mercer Report has started and Rick is ranting about the ever growing Canadian deficit. This from Bloomberg,
Canada reported a C$5.82 billion ($5.39 billion) budget deficit in July, following a surplus in the same month a year earlier, because of lower tax revenue and spending measures taken to spur growth.
The country’s deficit in the first four months of the fiscal year that began April 1 was C$18.3 billion, the Finance Department said today from Ottawa. Last year, the federal government had a surplus of C$2.18 billion in July and a four- month surplus of C$2.94 billion.
The governing Conservatives have forecast a record deficit of C$55.9 billion this fiscal year because of slowing revenue, increased claims for unemployment benefits and the costs associated with an auto industry bailout.
Program spending increased 30 percent from a year ago in July to C$21.8 billion, and is up 21 percent for the four-month period, the finance department said. Revenue in July was down 15 percent from last year to C$18.4 billion, bringing the fiscal drop to 11 percent in the first four months.
This is the problem I have with the Conservative Party of Canada, when it comes to fiscal matters, they just aren’t conservative. Mind you, the Tories haven’t driven the country off a cliff like President Barack Obama and his administration, but second place in a contest about fiscal mismanagement isn’t something we should be applauding. I am a registered Liberal, but I cannot bring myself to support their policies now, especially when they have been taking them from the NDP platform. If the Harper government would cut back on spending and make a serious effort to balance the budget, I could see myself and many other Canadians feeling better about casting our vote for the Conservatives in the next election. Provide transparency on spending and you might just get your majority in the next election.
I know it is a short post, but I needed to get that off my chest. Instead of addressing Canadian’s concerns about spending, Stephan Harper has been tight lipped about it. Just give us some transparency, we would like to know how our hard earned money is being spent…
As for my feelings on the Liberal Party right now, I turn it over to Rick Mercer once again…