Canada will post a deficit of C$34 billion ($27 billion) for the coming fiscal year as it moves to stimulate a flagging economy, but it will return to surplus in five years, an aide to Prime Minister Stephen Harper said on Thursday.
The aide said most of the expected deficit resulted from the stimulus package.Oh no, aide, I don't think you've got it quite right:
In a new analysis posted on his website, parliamentary budget officer Kevin Page says the federal government will rack up between $46 billion and $105 billion in new debt over the next five years, even without new stimulus spending in Tuesday's budget. (emphasis added)$13 billion alone of the deficit for next year is entirely due to Conservative mismanagement:
That's $13 billion they've single-handedly put on the backs of the Canadian taxpayers for 2009-10 prior to next week's announcements. I'm sure that was just a tiny oversight on the Conservative aide's part, right?
Always glad to help out around here...:)