Ever wonder why Canadians are cynical about our governments these days. There are actually a long list of reasons but, let's pick one. Have you ever tried to get a sense of how all this stimulus spending is doing besides racking up debt at the rate of $1200.00 a second. Just reading about stimulus spending is enough to make your head spin.
- Harper said yesterday, on his way to China that 97 % of stimulus dollars have been committed for this fiscal year.
- The same report Harper was referring to says 40% of the projects have been started. (By "started" the government means they have gone out for tender which makes you wonder about all those "shovel-ready" projects we heard about at the start)
- The Liberals are pointing out that the same report shows that as of today, only 7% of the stimulus projests have been actually started (useing the definition most of us use) which has to make you wonder. If we are as deeply in the red as even the government says we are, where are we going to be by the time this money is actually spent?
- Curiously only 1% of a $1.9 billion fund for social housing has been spent
- An additional $1.5 billion of social housing money has been just trickling out the door and other funds which were earmarked to improve social housing are stalled and pretty much the same level.
- Harper claims that Canada leads the world in economic recovery
- The Liberals say there are questions about the effectiveness of Harper's economic stimulus program as new GDP numbers show that Canada’s economic recovery is the second worst among G7 nations, lagging behind Japan, Germany, the United States, Italy and France.
- The Liberals say that of the 1000 projects they tracked, only 12% were actually generating jobs.
- Harper claims that his government's spending will create 220,000 jobs.
- Senior bureaucrats overseeing economic stimulus spending told MPs recently that the government isn't tracking how many jobs are being created by projects that are supposed to kick-start Canada's economy.
According to the TD Bank the combined Federal and Provincial deficits equal $90 billion. Represented by a stack of dollars, placed on it side that amount of money would be large enough enough to circle the earth almost four times.
According to the government we don't have to worry about rising taxes to pay down that deficit either. Following Tory tradition the payback plan most likely will entail lowering business taxes and royalties. In fact, Tories never really have the worry about paying back what they spend while they form government either. They never really stay in power long enough to have to concern themselves about it.
That will be the Liberal's problem.