Friday, September 19, 2008

Paddy Torsney claims feds are running a deficit—Part 2

This is a follow-up to my post yesterday—Paddy Torsney claims feds are running a deficit. According to my local riding candidate, Mike Wallace:

“During the first two months of the 2008-09 fiscal year, there was a minor budgetary deficit of $500 million. This was based on the release of program spending monies and revenue. The results for just two months of a fiscal year are not representative of the year as a whole.

Monthly deficits are not irregular and have happened many times in the past (ex. March 2005- $9.5 billion; March 2004- $1.2 billion; July 2003- $1.1 billion).

Since then, there has been revenue growth and spending has moderated. We expect to run a modest surplus in 2008-09.”

So, apparently, the residents of Burlington have been victimized by the sort of half-truths we have come to expect from the Stéphane Dion-led Liberal campaign. Ms. Torsney did not in any way qualify her statement, but said flatly, “…the fact he's [Stephen Harper] starting to run deficits.”

I prefer Mike Wallace’s straight-talk response.


  1. I like Mike Wallace - I canvassed for him a bit when I lived in Burlington.

    The fact is that there have been single month deficits EVERY year. Even when there were $12 Billion surpluses, there were monthly deficits. The public accounts are readily available.

    Year to date, the government is in a surplus.

  2. If its Paddy's word against Mikes, I'll take Paddy's.

    Especially when considering who the MOF is for this iteration of the Government of Canada.

  3. Russ,

    This is a great post. I am hearing very alarming things from Burlington about the tactics the Liberals in the area are using. In some instances it has been described to me as a smear campaign. I hope their negative and deceitful tactics blow up in their face.