[Newsbot]

Title: Deficit has soared ahead of March 22 budget, Morneau says
Category: Political
Posted By: andyt
Date: 2016-02-22 08:11:33
Canadian

[OnTheIce]

It's only going to get higher.

The $18.4-billion figure does not include the planned infrastructure and stimulus spending.

[Lemmy]

OnTheIce OnTheIce:

It's only going to get higher.

The $18.4-billion figure does not include the planned infrastructure and stimulus spending.

That $18.B figure also presumes a $40/bl price for oil. So it's worse yet.

[martin14]

Not to worry, we are going to get Obamaed, and everything will be fine.

At least anyone over 50 won't be paying for it.

For the rest of you, oh well, too bad.

[andyt]

That 18 bil also includes a 6 bil contingency fund.

$1:

Finance Minister Joe Oliver’s first budget projects a $1.4-billion surplus in 2015-16 and a $1.7-billion surplus in 2016-17.

However, the government is basing those surpluses on a contingency fund of $1 billion for each of the next three years, instead of the traditional $3 billion that has been set aside in several past budgets.

Had the government planned for the customary $3-billion contingency fund, instead of $1 billion, projected federal revenues would have been $2 billion less than what is forecast – meaning the $1.4-billion surplus in 2015-16 would actually be a $600-million deficit.

http://ottawacitizen.com/news/politics/ ... gency-fund

$1:

the [Liberal] government has also built a $6-billion contingency into its deficit projections for each of the next two fiscal years to guard against economic risks, so there is a possibility the actual shortfalls could be smaller than projected if some of those economic worries don’t materialize.

http://business.financialpost.com/news/ ... 20-billion