Recovery "is not going to be as quick as everybody thinks," Dodge said. "I think anybody would be dreaming in Technicolor to think that you're going to get through this by the third quarter of this year."
Earlier this year, current Bank of Canada Governor Mark Carney forecasted a quick recovery for the nation's economy.(link)
David's previous role as Liberal deputy finance minister under Paul Martin makes me wonder... Is he biased?
He's liberal... He's a civil servant... Enough said.
Then he gives this advice to the PMO:
Dodge also recommended a slight boost in taxes to boost government coffers, such as a one per cent hike in the GST.
"A little bit of tax here and there would do it," Dodge said.
Thanks for the advice David. Why don't you do the honors by being the first one that pays that extra percentage point.
That's all we need right now is a government raising taxes. That's one way to kill a recovery real fast.
Doger says:
ReplyDelete'But rather than obsess on designing short-term programs that will expire in a couple of years with the aim of returning quickly to surplus, he said,
Ottawa should be spending in areas where there will be a payback to the Canadian economy later in the next decade,
and where governments have not been able to spend sufficiently in the past.''
In other words, create a long term structural debt PLUS tax increases...gawd NO!
http://business.theglobeandmail.com/servlet/story/RTGAM.20090317.wrdodge18/BNStory/Business/home