Ollie and Me: The wee tad gets to pay for our collective folly

“Deficits today are deferred taxation,” said a spokesperson for the Canadian Taxpayers Federation (CTF) recently.

(As reported in an article yesterday’s issue of the London Free Press)

Not that I agree with the CTF on all points, but it’s a fact we’re deferring or downloading a lot of debt onto the backs of future generations, including my favourite wee tad.

Our own federal Finance Minister, Jim Flatulence, says Canada will post a bigger deficit this year than projected and it will take longer than expected to return to balanced budgets.

How long? Mr. Flatulence says five years, but he’s been very wrong many, many times before.

For example:

“Unveiling a fiscal update Thursday, (he) said the government now expects to post a $55.9-billion deficit for the 2009-2010 fiscal year — up from the $50 billion he predicted in June and the $33.7 billion he predicted in his January budget.”


[“No more free rides, Ollie”: photo by Ollie’s mom]

“Instead of the $83.1-billion deficit he projected for the next five years in his budget with a return to surplus in 2013-2014, (he) is now projecting a $164.4-billion deficit over that period...”

The way we run and use our country needs an overhaul. An election is one thing, but our pursuit of a certain type of economy and lifestyle is another.

I recommend we pursue, at all costs, The Small Economy, one that is affordable, within our limited means, sustainable and eco-friendly.

Live small.

.