Wednesday, February 02, 2011

Flaherty with more of that macro-economic thing they do

Shocking press release from the "Harper Government" yesterday: "Harper Government's Economic Projections on Track." This characterization of their economic projections comes from a survey of private sector forecasters undertaken in December and released yesterday.

The spin from Flaherty was of the thirty thousand feet in the air variety: “Our Economic Action Plan has proven to be a dynamic, ambitious and successful strategy in response to an unprecedented global crisis,” said Minister Flaherty. He went on a bit from there in the same vein. Recall that there are questions about the wisdom of this type of sales job about how well we're doing in relation to the rest of the world though. It had that ring to it again yesterday.

This report also brings Flaherty's presentation back down to earth, "Little for jobless Canadians in Flaherty’s latest forecast," where it's noted that the Flaherty chosen forecasters also project that unemployment numbers are essentially to remain where they are now and until 2015. More: "Little hope for unemployed this year: Flaherty."

Also raining on the Flaherty parade yesterday, this news: "Majority backs expanding Canada Pension Plan, poll finds."
...76 per cent of respondents support increasing CPP benefits and 51 per cent oppose the current federal approach to delay CPP reform in favour of a private pooled pension plan. The survey also found 81 per cent of respondents agreed it is important that retirement security be debated in the next federal election.
Pesky Canadians and their priorities.

To sum up here...it's fair to say that whether you're "on track" really depends on what you're looking at and who's doing the looking.