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.