[nfitz]

The Federal budget is about $250 Billion. $15 Billion is only a fluctuation of about 6%. This could easily happen due to changing circumstances, without any changes in spending plans.

I really don't see much change in circumstances since early December. If anything things may have improved, with the increase in Canada's expected GDP in 2010 - according to the Economist at least.

This kind of fluctuation in such a short period only goes to how poor the previous statement is. And I guess also to how foolish the government was, to remove the $10 billion buffer (by the 2% GST cut).

I'm not blown away by the infrastructure spending.

 

[Jayomatic]

The amount certainly doesn't help Canada gain a step to get a head start when the recession is over.

 

[CDL.TO]

The silence is deafening. It's very telling that with all the political drama in Ottawa with the government sitting on the edge that all the people are talking about is the contents of the budget.

Are people truly worried about the economy and counting on this budget for help?
Or are people just interested in the funds for sectors that matter to them?

 

[ShonTron]

I wrote my MP. I told him that I didn't care for it much, it not spending enough on infrastructure and the social safety net - there being an infrastructure deficit and lots of people needed short to medium term help - and too much on tax breaks, though the one thing I don't mind is the increase in the personal exemption. The GST did little to increase consumer spending, and I don't like seeing tax cuts used as "stimulus" - that's discredited Reaganomics ideology. I told him that I prefer the opposition come out very strong to demand what they called for before today, and if that means a renewed threat of coalition, so be it.

I didn't spare on the big words either. I know my MP is one of the most literate out there.

 

[Brandon716]

Canada isn't being hit quite as hard as virtually the entire rest of the western world during this recession, as of yet anyway... But that doesn't mean Conservatives have a good budget or have good policies. They've been eating away at the protections that have saved Canada's housing market to begin with, and the very reason Canada is in a less vulnerable position.

This budget is just a joke, the Tories are speaking like they are the NDP in voice while behind the scenes they are still working to undermine the programs that helped make Canada less proned to the worldwide downturn.

The moment the market starts to turn around, they'll cut these programs before they even get the light of day.

 

[kEiThZ]

While I'd hoped for more infrastructure money, I find the pessimism here a little over the top. This is essentially a Liberal budget. Pretty much what paul martin would have done. All in all, 12 billion for infrastructre ain't bad. And 85 billion in new debt over the next 4 years is not too bad. Only a change 2-3% of GDP. Look at the rest of the world. Those aren't bad numbers.

 

[lordmandeep]

what its more like 5-7% change in GDP...

 

[Ahab]

I'm of the view that nothing the government can do will have much of an impact on the recovery. Yet, I think this budget was a huge missed opportunity given the new public tolerance for a deficit.

If we were going to go into such a massive deficit, I would have preferred to have seen something really big aside from the infrastructure spending (e.g. universal dental care, national daycare, improved health care (did we suddenly solve this?), some sort of green energy plan or enhanced bursary programs for post-secondary education). Instead, we get a few hundred dollars back as a result of some income tax changes and a tax credit for home renovations. . .

 

[afransen]

While I'd hoped for more infrastructure money, I find the pessimism here a little over the top. This is essentially a Liberal budget. Pretty much what paul martin would have done. All in all, 12 billion for infrastructre ain't bad. And 85 billion in new debt over the next 4 years is not too bad. Only a change 2-3% of GDP. Look at the rest of the world. Those aren't bad numbers.

Unfortunately, that money is designed not to be spent. The strings attached make it very unlikely for the money to spent in the next twelve months, when it would do the most good.

After all, if the CPC were serious about infrastructure spending, they would release the billions they've been holding back from their previous budgets. Apparently many municipalities have had to resort to bridge financing until the federal money is released.

 

[TrickyRicky]

While many pundits are generally OK with the budget I actually see it as regrettable. What I don't like about the massive surge in debt is that it is kind of like the proverbial giant hog trough where every interest is saddling up for their share of the slop. OK many of the funding annoucements be they on infrastructure etc. will help ease a back log in needed investment. However, the real test of government policy is why is there such a structural deficit in important investments in the first place? So basically we're saying we manage this country badly so let's take this shock event as an opportunity to pretend for a moment we don't and make future generations pay for it? Make real structural changes and innovative and effective use of borrowed money targeted at specific strategic goals.

 

[jade_lee]

The budget is flawed just like our industrial, economic and educational systems are flawed. The country is divided. All this talk about stimulating spending when the truth of the matter is that most Canadians with the help of flawed lending practices (bordering on predatory) have over spent and are deeply sinking from the bad deals they have made to obtain credit. The only thing that could save most Canadians sinking in debt with the threat of job loss looming is the creation of better paying jobs.
I agree that most of us don't want to waste 300 million or so on an election because not one single party can be trusted with a majority at this time. The fact that housing for the poor and disenfranchised has been offered up is hilariously transparent. Tax breaks on home renovation to prop of an industry dominated by imported goods hardly brings the good paying jobs to Canadians. This budget reeks of red tape. Will people have to hit the streets for results?
The idea of informing the public about the progress of the budgeted flood of borrowed cash about to flow to the various "groups" at our future expense is what all Canadians should be demanding at the very least and I was happy to see it raised in the house. Will this current minority government fall as a result? Absolutely. Should the other parties expose the conservatives as incompetents, who had to be forced to face the reality of this recession? Sooner than later please.

 

[CDL.TO]

I really enjoyed this blog post that I've posted below. However, I'll point out that I disagree with the label "The Left" in it. The majority of people on 'the left' were just as unconcerned as everyone else. Perhaps something like "Those actually paying attention" would be a better label?

------------------

The Recession, from start to now. Being a conversation of the deaf, with a Brief & Modest opinion of the Conservative budget.
pogge.ca

The Left: The way weather patterns have been shifting, it’s likely there’ll be some heavy rains upstream in coming seasons. We should work on emergency preparedness.
The Mainstream: Huh?
The Conservatives: All’s for the best in this best of all possible worlds.

The Left: Weather forecasts are indicating really heavy rains coming. The river could flood if this happens. We’ll need to be prepared.
The Mainstream: Huh?
The Conservatives: We expect continued sun, excellent for tourism. Unless of course anyone other than Conservatives were in government. We’re the ones responsible because the sun shines out of our butts.

The Left: There have now been some very heavy rains upstream, and there’s no sign of this rainy season letting up. We can expect the river to start rising soon. Preparation has to start now. Some sandbags at least might be nice.
The Mainstream: Apparently there is rain upstream, which is causing temporary problems for the people upstream.
Some worried people: Hey, don’t we usually get floods when there’s that much rain up there? Shouldn’t the government be doing something?
The Conservatives: What’s this talk of rain? Look around you. It’s not raining!

The Left: OK, so the water is rising as we’ve said over and over it would. And the rain is moving this way too. We’re going to have severe flooding and nobody’s done anything about levees, drainage, shelter for people left homeless . . . anything much, really.
The Mainstream: It looks as if there is going to be a flood. Of course, nobody could have predicted this, but a consensus is emerging that the government should take strong measures.
Many worried people: Hey, there’s gonna be a freaking flood! Shouldn’t we be doing something? We could use some sandbags around here!
The Conservatives Economic Update: We’ve heard wild talk of flooding, but we have more important issues: Finding ways to hose the other parties. However, since there does seem to be some water spilled we’re allocating two paper towels to clean it up.
The Liberals: Zzzz . . . Huh? Wha? HEY! This is an outrage! And the NDP just reminded us . . . um, we knew all along that you don’t have the majority of seats! Keep trying to screw us over and we’ll (bzz bzz) . . . that is, keep on ignoring the flood and we’ll bring down your government!
The Conservatives: Ha ha! You can’t bring us down with a vote in Parliament if there’s no Parliament!

The Left, the Mainstream, Lots of worried people: The flood is getting bad, the rains are just increasing, there’s a gonna be trouble, if the government doesn’t start making with the fucking sandbags big time right now people will be heading for the hills!
The Liberals: Yeah, what they said. Sandbags. Those seem popular right now.
The Conservatives’ Budget: Oh, a flood! We’ve been listening. We understand now. So you’ll be happy to know we’re allocating a whole roll of paper towels!

The Liberals: We still get the sense everybody else would prefer sandbags. But we'll support the "whole roll" plan as long as you document what every towel was used for.

 

[jade_lee]

Ha!

 

[Tewder]

Unfortunately, that money is designed not to be spent. The strings attached make it very unlikely for the money to spent in the next twelve months, when it would do the most good.

Sounds like Ontario will be taking full advantage of the money on offer.

They've been governing like a bunch of frat boys--it seems to be nothing but a game and they don't seem to have respect for anything beyond their continued hold on power. They are reaping what they sowed when they implemented numerous outright bad policies.

I get it that you don't like the Conservatives but can you offer up something more constructive than the 'I don't like their policies so they must be goof-offs playing a game' stance? The reason we have different parties is because they have different approaches to the same problems. That's a good thing, no? To blame them for struggling to hold power is kind of silly. That's what all politicians and political parties do, especially in a minority position.

 

[Roy G Biv]

The budget is "meh". It's the middle-of-the-road, muddled, populist machine-gun spray of cash that could very well have been tabled by the Liberals. I don't feel strongly either way, other than hating the tax cuts. I'd turn in a year of deficits over saving $166/year.

So what is the plan to get back to surpluses? It will most likely be gigantic cuts all around. I say start by raising the GST again.