Cyberwanderer’s Blog

February 26, 2008

Is Flaherty hiding a deficit already?

Filed under: Canada — cyberwanderer @ 1:40 pm
Tags: , , , , , , , ,

h/t to David Graham. I have blog a bit about Flaherty and his past record in Ontario of selling property in an attempt to hide the deficit. David Graham in his blog “The World According to cdlu” points out a parallel move being done now by the federal government. They are selling government properties and leasing it back. Who in their right mind would sell property they own only to lease it? Unless you are badly in need of short term cash influx. Exactly the same thing happened in Ontario and we found out afterwards that they hidden billions dollar deficit from everyone.

My other related blog on Flaherty:

Flaherty war of words with Ontario (includes link to article about his shenanigan in Ontario)

Conservative fear mongering on budget

Flaherty gave $122,430 bidless contract to MacPhie


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6 Comments »

  1. “Who in their right mind would sell property they own only to lease it?” On the surface, this seems like a stupid idea. But did they raise 10 Billion dollars (this year’s surplus) by selling off their properties? I’m no realtor, but I don’t think they made that much money off the deal.

    Comment by Jim Jones — February 26, 2008 @ 4:56 pm | Reply

  2. Is that the real figure though? He’s been known to lie before in Ontario claiming there’s no deficit when there’s about $5 billion deficit. Why is the forecast for surplus next year suddenly dropped to $2.3 billion and about a billion the following year? That’s a huge drop from this year’s $10 billion surplus.

    Here’s a quote from a G&M news:
    “Even with the modest measures announced Tuesday, Ottawa is treading close to the deficit line, especially next year. There is no contingency reserve or rainy-day fund, and Mr. Flaherty admitted he won’t be able to pay $3-billion every year on the federal debt as initially anticipated.
    Instead, Ottawa foresees a slim surplus of $2.3-billion in the coming fiscal year, and just $1.3-billion in the 2009-1010 fiscal year, despite a huge $10-billion payment on the debt scheduled for the fiscal year that is just coming to a close.”
    (here’s the link: http://tinyurl.com/2eyu3l)

    It also says there’s nothing left for a prolong economic slowdown.

    Comment by cyberwanderer — February 26, 2008 @ 5:38 pm | Reply

  3. […] Is Flaherty hiding a deficit already? << back to Main Blog page << […]

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  4. […] over budget (March 11, 2008) Flaherty criticize his own tax savings account (March 11, 2008) Is Flaherty hiding a deficit already? (Feb. 26, 2008) Conservative fear mongering on budget (Feb. 17, 2008) << back to Main Blog page […]

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  5. […] February 26, 2008: Selling out government property to private firm and effectively giving government money away to them by leasing back from them. (blog link) […]

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  6. […] asset? Should we trust Harper, who has the same staff as Ontario’s Mike Harris? Including Flaherty who have been known to hide deficit. Something does not smell right when within four months, Flaherty’s prediction of deficit […]

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