Sunday , January 24 2021

Bill Kelly: An Attempt to Understand the Hyperbole of the Federal Budget – Hamilton

Finance Minister Bill Morneau published an economic update of the government on Wednesday. For all goals and objectives this is a mini-budget, minus the details.

I will not bore you with all the numbers that were blamed, because, frankly, this material has become a white noise for most Canadians.

Canada has the “ability” to cope with a recession, despite ongoing shortages: Morneau

But the political game that accompanies budgets is always very interesting.

The government tells us that yes, they increase the deficit, but this should give Canadian companies a better chance of attracting foreign investment and being competitive with their American counterparts.

HOURS: Coverage of the Autumn Economic Update

History shows that we tried this before with minimal success, but damn it, let's take another shot.

Of course, opposition conservatives condemn the budget and railway funds against the government for the deficit.

But this is more than a little hypocritical, because the Harper government has given us 10 years of deficit and increased national debt to the highest level in Canadian history.

In this era of political hyperbole and shaky fiscal policy, no one has a moral basis when it comes to the country's finances and the observance of election promises.

Conservatives are quite correct when they accuse the Trudeau government of not fulfilling their promise to eliminate the deficit, but with the lowest unemployment rate in 40 years and business profits and wage increases, this broken promise gives big dividends.

This may not be the most sensible long-term financial plan, but most Canadians are more concerned here and now, and in this context so far so good.

Bill Kelly is leading the Bill Kelly show on Global News Radio 900 CHML

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