$8 Billion Surplus to be announced

[Scoobie Newbie]

it will likely be put into the national debt that is around $510 Billion

 

[Fishbone Jones]

Does it really suprise you? The liberals are always understating what they (as opposed to we) have, to foreshadow doom and gloom, "We haven't got the money for all these programs". Then at the last minute it's "Hey we made a mistake! Look at all the extra cash we found. What a great job we've done" They do it every year. Personally, I feel, anyone that can't keep the books straight and give the proper accounting, at any given time, has no business handling the taxpayers money.

 

[canuck101]

Paying the debt down is a very good thing.  It means we spends less on interest and can start to spend more on other things or even a tax break.

 

[Scoobie Newbie]

Yeah the news said that they have had a habit of lowballing their figures.  It be nice if they dumped all that into the CF.

 

[canuck101]

I almost forgot yes the liberals do lie about how much money the collect which is very bad.  With that amount of money they could buy new subs and destroyers that we need. 8)

 

[Goober]

I'm all for paying down the debt, but the military is in need of new equipment. I sincerely hope they spend some of this surplus on the military, however I doubt 1 penny will be spent on it.

 

[canuck101]

You can say that again.  We really need new airlift fast or we are not going to have anything to transport what little equipment the gov gives the CF

 

[R031button]

I don't know about any body else, but I really don't think the country should be run like a corporation. We're not making any money, all that 8 billion means is that Canadians spent more then they needed too, or that the govt isn't funding things adaquetly, it's by no means a positive thing. One ther other hand, I do think we need a reserve of money just in case, and we do need to pay down the dept, so I would be content if it was a 2 billion surplus, which would leave us with six billion for other departments of governement, namely health care and the military.

 

[Gayson]

Agreed, it would be great to see some of that money, but not all of it, other departments could probably use it too (but not as much as the CF).

 

[Lance Wiebe]

Instead of headlines stating "8 Billion dollar surplus"

The headline should read:

Liberal Government overtax Canadians by 8 billion dollars!

 

[Cdn Blackshirt]

I don't know about any body else, but I really don't think the country should be run like a corporation. We're not making any money, all that 8 billion means is that Canadians spent more then they needed too, or that the govt isn't funding things adaquetly, it's by no means a positive thing. One ther other hand, I do think we need a reserve of money just in case, and we do need to pay down the dept, so I would be content if it was a 2 billion surplus, which would leave us with six billion for other departments of governement, namely health care and the military.

I disagree completely on increasing spending on anything other than the military.  

To put this into personal context it would be like having a $112,000 in low interest credit cards, a $40,000/year income and you've just paid off $2,000 of the principal so next year your line of credit has been reduced to $110,400.    Additionally, the quick math indicates at that rate it will take you close to 50 years to pay off that debt.

Add to this disturbing (and oft overlooked fact) the reality that as the babyboomers retire our national productivity (and as such taxable revenue) will decline as our healthcare costs continue growing at double-digit rates.

Bottom Line:   If it were me, I'd be cutting all non-military spending wherever I could and hammering the debt as hard as possible.  



Matthew.  

Re:   The overtaxing comment:   Actually regardless of what party is in power, it is Canadian Citizen's Debt they are paying down.

 

[Danjanou]

Matthew

I'm sorry to disagree with your last comment there. I as a Canadian Citizen didn't rack up that debt. I know how to budget my income and expenses including paying more than my fair share of taxes too. I'm sure that most ( not all though) of my 30+ million countrymen are equally fiscally responsible too.

That debt was run up by years of government neglect and mismanagement a list of example of which would probably use up all the available band width on this site. Also remember that is just the Federal Debt, 9 out of 10 Provinces also have debts some of them massive, as do several large municipalities and for the same reasons.

By the way that 150 billion was racked up in slightly less than 40 years. There was a time when this country was run by responsible grown ups and actually had regular year end surplus and a strong military too come to think of it. Care to guess who was in power for most of that 40 odd year period?

8 Billion eh, That should be good for 2 or 3 new weapons registry programs to make us safer (swiss army knives, nail clippers, and/or salad forks perhaps), a dozen odd canoe museums and fountains, a round dozen polar champagne and caviar trips by the champagne socialist set, and a few hundred bribes er excuse me advertising contracts.

 

[Bograt]

Just a slight correction. The surplus is 9.1 Billion How many sponsorship JC golf balls can be purchased for that?

http://www.theglobeandmail.com/servlet/story/RTGAM.20041013.wbudg1013/BNStory/Business/

 

[Brad Sallows]

Voters weren't exactly quick to vote out, and refuse to let back in, deficit spending governments.  It's our debt.  I want it eliminated.  We can fight over whether to spend the former interest charges on health care or defence once they are former interest charges.

 

[Jarnhamar]

Maybe we should blow millions of dollars on another election and with the left overs give the MPs another raise.

I don't think we should put the money into the CF. 
What are the chances of it actually being spent responsibly? What are the chances of it being spent on something cost effective and needed opposed to wasted away on something?
Like yet another study that will cost millions of dollars to perform only to come back and say 'News flash, CF underfunded and in need of whatever'
I'll never understand why those studies cost so much.

The liberals "Found" 9 billion dollars. It's scary that much money can be misplaced.
I hope the Liberals are responsible and use the money where it's needed most.

 

[tabernac]

I hope the Liberals are responsible and use the money where it's needed most.

six billion for other departments of governement, namely health care and the military.

Is Healthcare and DND at the top of the list for recieving money?

 

[loyalcana]

By law budget surpluses are used only to pay down the debt.

 

[Bruce Monkhouse]

In Alberta,perhaps.

 

[PPCLI Guy]

By law budget surpluses are used only to pay down the debt.

That is easy to get around - in fact it is done almost every year.  The surplus is predicted to be 9.1B.  All you have to do is commit 7B before the end of the fiscal year, and voila, the "surplus" is only 2,1B - and that is what is paid down on the debt.

 

[Tpr.Orange]

Yeah we all wish that was going to happen in a perfect world...with the liberals, NOT IN POWER :