Canada Posts Surplus For Fiscal Year

[LaBamba]

[quote name="Lockout Casualty" post="12947339" timestamp

"Surplus" lol

[LaBamba]

They serve coffee at A&W?

Every A&W has a corner table where seniors drink coffee and talk about Harper, how expensive everything is, and immigrants from 7am - 2pm. It's almost like an openly secret society.

You dam well know Warhippy is their God.

[Mr. Ambien]

I still don't understand how cutting expenses to spend less money then you made isn't a

"surplus" lol

What do you people want?

deficit = Lolz @ Harper

surplus = Lolz @ Harper

Don't we all cut expenses when we make less money?

Well no, the Keynesian on steroids thing to do in western economics is to, basically, take out credit cards and loans to sustain unsustainable spending.

Then, we do the equivalent of what makes those Money Mart and, uh, Cash Money places bank with payday loans and put people in a perpetual cycle of increasing debt.

It should be no surprise that the terrible economic management of virtually every government has been a reflection of it's populace.

At any rate, a surplus is respectable, I've just always been suspicious about the usage of the word. I've seen a number of times where people say "surplus" when they mean receipts/revenue. Doesn't paint the entire picture in that context, and can easily be misconstrued to mean fiscal surplus as in, where revenue > outlays..

Every A&W has a corner table where seniors drink coffee and talk about Harper, how expensive everything is, and immigrants from 7am - 2pm. It's almost like an openly secret society.

You dam well know Warhippy is their God.

I'm a people person, but what is it with people and these coffee shop cliques?

Like that Starbucks one. I love Starbucks (their frappe's, I hate coffee) but christ I can't stand those people that loiter around there.

[Lockout Casualty]

I still don't understand how cutting expenses to spend less money then you made isn't a

"surplus" lol

What do you people want?

deficit = Lolz @ Harper

surplus = Lolz @ Harper

Don't we all cut expenses when we make less money?

We don't know. We're teenage stoned NDPers!

PS. The answer is clearly laid out in my posts. To save you some time, I don't fault Harper for running deficits and never have. If you can find a post of mine saying that, I'll call you daddy.

PPS. If you have budgeted 100 dollars on food for a week, but went two days hungry to save 20 dollars, you didn't actually create a surplus, you suffered due to a lack of available funds. This is what is happening here. Or do you think the government met all its obligations and still had that much left over? If that's the case, you must live in a different country, because our infrastructure alone requires billions of investment.

PPPS. I don't know why I bother responding to a self-admitted sex offender. "Keep your testicles out of other people's drinks" should be the only thing anyone says to you, ever.

[LaBamba]

PPPS. I don't know why I bother responding to a self-admitted sex offender. "Keep your testicles out of other people's drinks" should be the only thing anyone says to you, ever.

I know sex is quite foreign to your teenage body, so let me explain something to you. That wasn't sex.

And starving for a few days is what you have to do to not become Japan or Greece.

[YaK]

In laymans terms. They didn't pay any of their bills, sold their car and are showing their friends that they have a fat bank account. When the reality is they're walking home to an empty house with no heat, power or food and still have bills to pay.

[Lockout Casualty]

I know sex is quite foreign to your teenage body, so let me explain something to you. That wasn't sex.

And starving for a few days is what you have to do to not become Japan or Greece.

If you keep saying it, it'll eventually become true. Like trickle down economics.

I don't think you understand the analogy. Maybe I'm too high and it's my fault.

PS. Please keep your testicles out of other people's drinks.

[Miss Korea Bob.Loblaw]

Pretty much everything is essential. No one wants things slashed, but that's the tough decisions needed to be made. Who ever wants to cut spending?

Can you go over with me what you think should be cut that Canadians don't consider essential?

When your economy is contracting, the dumbest thing to do is tax people more. You spend less. That's called making cuts.

It works for macro, micro, and what a surprise, it works for personal budgeting too. Why go against what logic dictates?

I can tell you why modern governments don't. The populace thinks recessions are bad, and even worse, when your economy is contracting, that you can spend the same, if not go more into debt, like that's an intelligent thing to do.

It is a fact that the Canadian economy is in a recession. It is also a fact that the government posted a surplus. Less taxes doesn't equal $2B surplus. Cuts won't do that either, especially considering how the Conservatives have constantly posted deficits. Can you not see how self-contradictory this news is?

[Warhippy]

Every A&W has a corner table where seniors drink coffee and talk about Harper, how expensive everything is, and immigrants from 7am - 2pm. It's almost like an openly secret society.

You dam well know Warhippy is their God.

You know what cjum

You're right

I know jack and shart.

You're right

This country run by people just like you is the pinnacle of the perceived utopia and I should just know not to argue with my betters.

I mean really, what do I know. Facts, the common man not making $1500 a day struggling to make ends meet.

I'm just a nobody, I have no clue. We should all allow you and yours to make the decisions because Canada is in such an AMAZING place right now.

Because you know, you can claim to be a great manager when things go right. But it isn't you fault when things go bad. You're the perfect type of person to manage a population. It can never be your fault

I'll just go on my way now cheif. Try to remember the little people at the table from time to time when you gaze with your godly rpesence upon us peons

[Warhippy]

It is a fact that the Canadian economy is in a recession. It is also a fact that the government posted a surplus. Less taxes doesn't equal $2B surplus. Cuts won't do that either, especially considering how the Conservatives have constantly posted deficits. Can you not see how self-contradictory this news is?

Don't argue with your betters.

How on earth can we know better, armed with facts. Armed with common sense.

They have opinion and high standards and the ability to ignore both of our traits while lauding theirs.

[Dral]

Harper is a very good strategist, you have to give him that...

[Warhippy]

Harper is a very good strategist, you have to give him that...

He has a team or marketing managers and campaign experts from around the globe specializing in attack and deflection tactics. If he isn't coming across as a good strategist than he looks like what he really is.

At that point even LB and his ilk couldn't vote for him

[LaBamba]

It is a fact that the Canadian economy is in a recession. It is also a fact that the government posted a surplus. Less taxes doesn't equal $2B surplus. Cuts won't do that either, especially considering how the Conservatives have constantly posted deficits. Can you not see how self-contradictory this news is?

You know what is self-Contradictory? Crying about a deficit, now crying about a surplus.

We literally define the term technical recession right now. There are several indicators pointing towards growth next 1/4 which will end this silly talk.

At this point the hate for Harper has gone beyond logic. There is nothing he can do to about it now.

[LaBamba]

You know what cjum

You're right

I know jack and shart.

You're right

This country run by people just like you is the pinnacle of the perceived utopia and I should just know not to argue with my betters.

I mean really, what do I know. Facts, the common man not making $1500 a day struggling to make ends meet.

I'm just a nobody, I have no clue. We should all allow you and yours to make the decisions because Canada is in such an AMAZING place right now.

Because you know, you can claim to be a great manager when things go right. But it isn't you fault when things go bad. You're the perfect type of person to manage a population. It can never be your fault

I'll just go on my way now cheif. Try to remember the little people at the table from time to time when you gaze with your godly rpesence upon us peons

Wow you read my mind.

[ronthecivil]

Federal departments left $8.7 billion unspent last year

Conservative Leader Stephen Harper on Monday defended federal departments for holding on to billions of dollars last year. The unspent money was instead returned to the federal treasury, and played a huge role in the Conservative government posting a $1.9-billion budget surplus in the last fiscal year.

Finance Canada reported the federal surplus Monday, after initial projections in April had suggested a $2-billion deficit. The report said a variety of factors were responsible for the surplus, including a slight bump in government revenue from corporate and personal income tax.

But federal departments and agencies also chipped in by handing back an estimated $8.7 billion for different programs that had been requested — and in some cases publicly announced — by the government and approved by Parliament.

Speaking at an event in Kamloops, B.C., Harper seized on the surplus to bolster his economic credentials heading into the second half of this year’s marathon election campaign. He dismissed concerns about the unspent billions, including whether the measures may have pushed the economy back into recession.

“The government’s lapses are completely normal,” Harper said. “Obviously we always make sure government departments have more than enough money but we don’t expect them to spend every single dime. We expect them to spend effectively.”

However, last year’s lapse, as unspent federal funds are called, was anything but normal. The Conservatives’ own budget plan in April, which projected only a $7.2-billion lapse, said government spending through February was “well below the historical average.” Spending to that point was also “at the lowest level in a decade.”

While the Conservatives have portrayed lapses as proof of economic prudence, critics say they amount to cuts by stealth. They say this is how the government can take money from Veterans Affairs, National Defence and other departments without actually cutting budgets.

During a campaign stop in Toronto, Liberal Leader Justin Trudeau accused the Conservatives of having erased the federal deficit by “under-spending and making cuts” across government “so he could balance the books in time for his election.” Trudeau is the only main party leader to promise deficits if elected to power.

NDP Leader Tom Mulcair, who has promised a balanced budget if elected, didn’t speak to the unspent funds.

Canadians won’t know exactly which departments or programs were affected until after the election, when the government publishes its annual detailed accounts. But figures produced by the Parliamentary Budget Office over the weekend provide an idea of where some of the money came from.

The PBO figures aren’t final as not all departments, agencies and Crown corporations have reported their full end-of-year spending. But they do suggest hundreds of millions set aside for new military equipment, processing refugee applications, First Nations communities and transportation infrastructure went unspent.

In contrast, the Royal Canadian Mounted Police, Canada Border Services Agency and Canadian Food Inspection Agency were among a small number of federal departments or agencies that spent all their money – or even appeared to go over budget.

Former parliamentary budget officer Kevin Page said he had no doubt the Conservative government ordered senior public servants to “put the brakes” to spending to ensure a surplus during the election campaign. “It’s a big chunk of spending,” he said. “And it’s not easy for a lot of the departments.”

Page, who now teaches at the University of Ottawa, said lapsed funding has a direct impact on Canadians, and whoever wins the election will face a difficult situation that may involve either re-opening the taps or making more cuts.

“They’re going to look at that spending framework and say, ‘Is this sustainable?’” he said. “Is the Coast Guard going to function the way it should function? Are we going to have the sort of food inspection we need? Are we going to be able to get the cheques out the door for seniors and unemployed people?”

http://ottawacitizen.com/news/politics/federal-departments-left-8-7-billion-unspent-last-year

"Surplus" lol

This is actually a very good thing. Every government should do this.

Usually the policy is for departments to spend their budgets no matter what for fear of having them cut. That default policy is one of the ways we end up bleeding cash with no explanation......

[ronthecivil]

Also, Canadians should be FAR more concerned about balancing their own books. The feds have been relatively awesome at it.

The population? Every day we break new records of personal debt. Barely sustainable at record low rates. I wonder if that will be a problem when rates (inevitably) rise?

Sure, they can cheat for a while and see if they can break the record for a low Canadian dollar, but eventually they will be forced to.

When that happens, we will be mentioned in the same crowd as the Greeks and Japanese.

Oh, and it doesn't matter who you elect, we're doomed no matter what.

Keep up the banter, and more importantly, the thought that you are making a difference!

[LaBamba]

Also, Canadians should be FAR more concerned about balancing their own books. The feds have been relatively awesome at it.

The population? Every day we break new records of personal debt. Barely sustainable at record low rates. I wonder if that will be a problem when rates (inevitably) rise?

Sure, they can cheat for a while and see if they can break the record for a low Canadian dollar, but eventually they will be forced to.

When that happens, we will be mentioned in the same crowd as the Greeks and Japanese.

Oh, and it doesn't matter who you elect, we're doomed no matter what.

Keep up the banter, and more importantly, the thought that you are making a difference!

I agree, this trend is global and I believe it's going to end society as we know it. I love that he made cuts to balance his books. It's responsible and he didn't even have to raise taxes.

[ronthecivil]

I agree, this trend is global and I believe it's going to end society as we know it. I love that he made cuts to balance his books. It's responsible and he didn't even have to raise taxes.

Actually now would be a good time to be building infrastructure.

The problem with Keynesian economics is that governments don't pay down debts when times are good. When times are good is when they should be cutting, and hard.

It's more dumb luck that there's a surplus right now, and it's more the central bank than Harper to thank for it, and all of that is just kicking the can down the road.

[Mr. Ambien]

I know sex is quite foreign to your teenage body, so let me explain something to you. That wasn't sex.

And starving for a few days is what you have to do to not become Japan or Greece.

Hahaha almost spit my drink out.

[Mr. Ambien]

It is a fact that the Canadian economy is in a recession. It is also a fact that the government posted a surplus. Less taxes doesn't equal $2B surplus. Cuts won't do that either, especially considering how the Conservatives have constantly posted deficits. Can you not see how self-contradictory this news is?

Uhm, if the conservatives are still that much in debt when the economy is in better shape, it obviously means they are spending way too much, so no, they weren't cutting things.

This is the illusion of conservative parties nowadays, that they're fiscally conservative, when mostly, they're not. Fiscal conservatism and paper trail honesty is really the only major issue that would seriously draw me to a conservative party.

OTOH, it seems people don't understand how to budget (reflected in all the debt people have), and in their own ignorance they're making voting decisions based on this.