Monday, March 16, 2009

Canada's debt to balloon by $81.5-billion!

TD predicts record deficit over two years, driving shortfall billions of dollars deeper than Ottawa's forecast.

In todays G&M, this article by Steven Chase.

"The Toronto-Dominion Bank's calculations - using their updated economic forecasts - would see Canada's federal debt swell by $81.5-billion over the next two years instead of by $63.5-billion as the Harper government forecasted seven weeks ago. This would drive up Ottawa's debt to $540.2-billion in the 2010-11 fiscal year instead of $522.2-billion as currently forecast."

It looks like our PBO officer, Kevin Page, is right. Let's hope that Harper doesn't do away with him. I know he'd love to, & is working towards that end, but we all need to be vigilant on this as does the MSM. And let's not forget that it was Harper that appointed Mr. Page even though he would prefer to say it was the Liberals. And the PM does like to do revisionist history.

3 comments:

roblaw said...

Is there no way we can either get the Liberals to drop the "social engineering policies" they seem obsessed with.. or the Conservatives to actually be fiscally conservative?

OMG.. it's enough to make one want to "go off the grid".

penlan said...

roblaw,

It's all completely insane isn't it? So many "billions" being bandied about I can't get my head around the figures. Basically it becomes infinite - which is something we are unable to grasp.

John Prince said...

To give people an idea how much a billion is. A billion 'seconds' ago, it was 1978.