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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.

4 comments — This is a moderated blog and comments will appear when approved. Please don’t resubmit if your comment doesn’t appear immediately, and please do not post material that is obscene, harassing, defamatory, or otherwise objectionable.

  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.