Tag Archives: Deficit

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Conservative Party of Canada on track to deliver budget surplus in 2015

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Prime Minister Stephen Harper
Prime Minister Stephen Harper (Conservative Party)

Story from Yahoo News about the results delivered by the Conservative Party of Canada.

Note: To understand the numbers in the article, simply multiple the numbers by 10 to compare with American numbers – Canada’s economy is about 1/10 the size of ours. For example, our GDP is $15.7 trillion and theirs is $1.8 trillion. Our national debt is $17 trillion, while their’s is $1.2 trillion.

Excerpt:

Canada’s Conservative government looks set to comfortably balance its books in 2015 or even sooner, its latest budget showed on Tuesday, with cuts in spending on the public service more than offsetting a series of modest new expenditures.

The low-key spending plan leaves Prime Minister Stephen Harper well-positioned to offer tax breaks and other initiatives in the runup to an election scheduled for October next year.

“Some people will say this budget is boring,” Finance Minister Jim Flaherty told reporters ahead of the budget speech. “Boring is good.”

The budget shows a deficit of C$2.9 billion ($2.63 billion)in the 2014-15 fiscal year, up from the previous estimate of C$5.5 billion. That balance includes a C$3 billion contingency fund, which in fact reveals an underlying surplus that year.

Flaherty acknowledged the budget would be narrowly balanced this coming year without the contingency fund, but said he preferred to have a “nice clean surplus next year”.

The government estimates a bigger-than-expected C$6.4 billion surplus in 2015-16. In the year ending March 31 of this year, the deficit is pegged at C$16.6 billion.

[…]Flaherty, who is 64 and battling a rare skin disease, has staked his reputation on eliminating Canada’ small deficit, equivalent to about 1 percent of gross domestic product (GDP), and restoring the reputation the country had before the global financial crisis as having the strongest fiscal record in the Group of Seven major economies.

Germany is currently the only G7 country running a surplus, but Canada’s ratio of debt to GDP is substantially less and it is one of a handful of countries with a triple-A rating from rating agencies.

Canada is beating us in debt to GDP:

G7 Debt to GDP as of 2013
G7 % Debt to GDP as of 2012 (lower is better)

Canada is beating us in economic growth:

G7 GDP growth for 2013
G7 % GDP growth from 2007 to 2012 (higher is better)

Source: BBC Business

The next Canadian election is in 2015. I know that the Liberal Party is currently leading in the polls, but I found some good news. The Canadians just redistricted after their census, and there are 30 new electoral districts. If the same turnout occurs in 2015 which occurred in the 2011 election, then the Conservative Party of Canada would get 22 out of 30 of those new seats. However, I am concerned. I want Harper to keep his majority, as he and Tony Abbott (Australia) are two bright conservative stars who show people what conservatives can do. 

News

State department: not building the Keystone XL pipeline could increase greenhouse gas emissions

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From CNS News.

Excerpt:

Not building the 875-mile Keystone XL Pipeline could result in the release of up to 42 percent more greenhouse gases than would be released by building it, according to the State Department.

Not building the pipeline “is unlikely to significantly impact the rate of extraction in the [Canadian] oil sands or the continued demand for heavy crude oil at refineries in the United States,” the department noted in a long-awaited environmental report released January 31st.

But the “No Build” option is likely to result in an increased number of oil spills, six more deaths annually, and up to 42 percent higher greenhouse gas (GHG) emissions, the State Department concluded.

The proposed 36-inch pipeline would transport 830,000 barrels of crude oil each day from western Canada through the Bakken oil fields of Montana and South Dakota before connecting to an existing pipeline in Nebraska on its way to Gulf Coast refineries.

The project will create an estimated 42,100 jobs and add $3.4 billion to the U.S. economy.

This report follows last week’s report showing that the pipeline would have no major environmental impact.

Excerpt:

The long-delayed Keystone XL oil pipeline cleared a major hurdle toward approval Friday, a serious blow to environmentalists’ hopes that President Barack Obama will block the controversial project running more than 1,000 miles from Canada through the heart of the U.S.

The State Department reported no major environmental objections to the proposed $7 billion pipeline, which has become a symbol of the political debate over climate change. Republicans and some oil- and gas-producing states in the U.S. — as well as Canada’s minister of natural resources — cheered the report, but it further rankled environmentalists already at odds with Obama and his energy policy.

Now the State Department is one of the most liberal departments in the government. Unfortunately, this has not appeased the great climate science experts in Hollywood, who donate so much money to Democrat election campaigns. So long as the money keeps flowing from the high school drop-out celebrities, don’t expect this pipeline to get built. For the Democrats, it’s all about staying in power.

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UK survey: nearly 60% of working moms would cut their work hours if they could afford to

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Dina tweeted this UK Daily Mail article that made me think about how women vote.

Excerpt:

More than a third of working mothers would like to give up their jobs completely and stay at home with their children, a major Government survey has found.

It showed that millions of mothers of young children who go out to work do so only because they need to work to pay the bills.

The research for the Department for Education found that, far from being anxious to get out of their homes and into employment, the great majority of mothers are only reluctant workers.

Nearly six out of ten of all working mothers would cut down their hours to spend more time with their families if they could afford to, it said.

The yearning among mothers to leave their jobs and look after their children instead is even more pronounced among the highest achieving women, the  survey indicated.

More than two-thirds of those in senior and middle management roles would spend fewer hours in the office and devote more time to their children if they had enough money, it said.

[…]Yesterday’s survey also undermines the claims that prejudice and discrimination against women in male-dominated companies is the reason why women are heavily outnumbered in the boardroom.

Rather, it suggests that many women who could get to the top in business choose instead to put their children before their careers.

The problem is that when government gives people free stuff, people who work have to work more to pay for it. And the strangest thing is that even though women seem to want to stay home with their kids (which is good), when it comes time to vote, they actually vote NOT to stay home with their kids. How? By growing the size of government, which results in higher taxes. To find out what women really think about staying home with their kids, we can look at how they vote. 

Women voted 55 to 44 for Obama
Women voted 56-44 for more government spending in 2012

CNN reports on how women voted in the 2012 election:

According to CNN’s exit polls, 55% of women and 45% of men voted for Obama and 44% of women and 52% of men voted for Romney. That level of female support for the president made an especially big impact in swing states like Ohio where the gender breakdown mirrored the national figures.

[…]There are some indications that social issues directly impacting women might have helped sway votes in some states.

Tuesday’s early exit polls showed 51% of Missouri voters said they believed abortion should be legal all or most of the time. Of those voters, exit polls showed 76% supported Democratic incumbent Claire McCaskill, who won Tuesday night, while 19% voted for Akin.

Forty-seven percent of Missouri’s voters said abortion should be illegal. Exit polls showed Akin netted 67% of this group’s votes while 27% of people who think abortion should be illegal supported McCaskill.

But much more than social issues, pocketbook economic issues most concerned women voters, exit polling showed.

“Women like all voters felt the economics were most important,” Swers said. “Women tend to be more supportive of government spending… than men are … so they were less responsive to Romney in that way and more responsive to Obama’s message on empathy and helping the middle class.”

Gallup reported that the gender gap in the 2012 election was actually 20 points. That was the largest ever measured in a Presidential election. The actual vote for Obama among women, according to Gallup, was 56-44.

More government means higher taxes
Women are also more pro-abortion more than men

Here is a peer-reviewed research paper that shows the problem that we need to warn women about, so that they vote smarter.

The abstract reads:

This paper examines the growth of government during this century as a result of giving women the right to vote. Using cross‐sectional time‐series data for 1870–1940, we examine state government expenditures and revenue as well as voting by U.S. House and Senate state delegations and the passage of a wide range of different state laws. Suffrage coincided with immediate increases in state government expenditures and revenue and more liberal voting patterns for federal representatives, and these effects continued growing over time as more women took advantage of the franchise. Contrary to many recent suggestions, the gender gap is not something that has arisen since the 1970s, and it helps explain why American government started growing when it did.

When people vote for government to do more for everyone else, then men who work have to pay more in taxes.

Women for bigger government, higher taxes
Women vote for higher taxes, so they have to work more

If women want to stay home with their children more, then they need to vote for their husbands (present or future) to pay less in taxes when they work. That means voting for smaller government, more liberty and more personal responsibility. Until women get to the point of connecting their future plans (marriage and parenting) for their lives with their current voting, this situation is not going to change. Marriages run on money. It’s no good to urge men to “man-up” and then take away their ability to provide by taxing more of their earnings to pay for Sandra Fluke’s birth control pills and abortions. Keep the money in the family, and then you can stay home with the kids more.