Right-wing governments CANNOT manage money.....Our friends in Canada are getting a taste now.

[marmar]

from the CBC:



Opposition demands PM fire Flaherty over ballooning deficit
Canada's public accounts 'in freefall,' Ignatieff says in call for finance minister's dismissal


Prime Minister Stephen Harper faced calls from opposition MPs on Wednesday to fire his finance minister after Jim Flaherty acknowledged this week that Canada's deficit will balloon to more than $50 billion this fiscal year.

Flaherty announced Tuesday the deficit will rise by more than $16 billion in 2009-10 from the $34 billion he forecast in January's budget.

During Wednesday's question period, Liberal Leader Michael Ignatieff lampooned Flaherty's statements six weeks ago that his forecasts were "on track" and called his handling of the global recession "incompetence on a historic scale."

"What is at stake here is the credibility of the government of Canada and the credibility of the minister of finance," Ignatieff told the House.

"His projections are out the window again, leaving Canadians with the largest deficit in history — and no economic stimulus to show for it." .........(more)

The complete piece is at: http://www.cbc.ca/canada/story/2009/05/27/finance-deficit-flaherty050.html

[Joe the Liberal]

1. Hmmmm sounds familiar.....

Bush left our country with the largest deficit in history and no economic stimulus to show for it and I thought right wingers were all about "fiscal responsibility". Incompetence is the only thing right wingers have to offer.

[DCKit]

2. Clearly, the CIA (Canadian Information Agency) lied to him.

And no, I believe Nancy. Our CIA was working for BushCo*, with DICK in charge of intelligence wrangling.

[Wednesdays]

3. K&R

:kick:

[SammyWinstonJack]

4. K&R

[MindMatter]

5. This is what happens when you take public services and privatize, adding a profit margin

Maybe the extra cost is "only" 10%, but when you are dealing with big numbers, that 10% adds up quickly and eventually topples the system.

It doesn't help that the privatization inevitably yields a loss of accountability and transparency, so the abuses generally become monumentally large before they are brought into public view.

[Canuckistanian]

6. It was a shock to all of us

Flaherty is total hack, of course. We booted him out of office as the Ontario Finance Minister back in the disastrous days of the Mike Harris Conservative clusterfuck.

It's worth noting that this massive deficit is coming right after the implementation of a 1% Goods and Services (GST) tax cut.

This is what happens when you install conservatives with their voodoo economics.