26 March 2009

The Number Just Keeps Growing

It seems that every couple of weeks we get more bad news regarding the Conservatives' mismanagement and misinformation regarding the Canadian economy. First it was no deficit ever, then it was $85 billion of deficit spending, then it jumped again to $103 billion. Today, parliamentary budget officer Kevin Page says that it's going to be even bigger:

He predicted 385,000 jobs will be lost before July and that economic output, by some measures, will be in worse shape than the 1980s or 1990s recessions.

The grimmer forecast will mean a squeeze on tax revenues. Mr. Page told MPs that his office estimates Ottawa's deficit will hit $38-billion for the 2009-10 fiscal year beginning April 1, instead of $33.7-billion as the Tories projected in the Jan. 27 budget. That's only $1-billion short of the record $39-billion deficit racked up by the Mulroney government in 1992-1993.

Mr. Page's office also said it expects the 2010-11 deficit will hit $35-billion instead of $29.8-billion as Ottawa forecast.

I have officially lost count of how many billions of reasons we have to replace Stephen Harper. One hundred and three billion seemed more than ample, but now we're getting even more. He MUST go!

Not only is the incompetence running high, so too is the out of touch rating:

Conservative MP Mike Wallace said Mr. Page shouldn't have jumped to that conclusion and urged more focus on good news. “I believe part of the issue facing Canada and the world is we need some of the positive stuff. And when the positive stuff does come out it tends to get discounted immediately,” he said.

“I myself purchased two cars these past two weeks. I am doing my share. I think there's some good news stories. It's not great news, don't get me wrong.”

While I'm so happy for Mr. Wallace's purchases, there are tens of thousands of Canadians who do not enjoy his job security (for now!) and his MP salary. What an utterly insensitive comment to make at a time when the EI lineups are stretching around the block. Somehow I doubt that Mr. Wallace is part of that Tim Horton's crowd that the Prime Minister tries fancy himself with.

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