Carney platform promises $130B in new spending, deficits until 2029 :Heart Attack:

[nottyboi]

He is claiming a lot of money saved, per year, in government efficiency, but unless he plans to reduce the employment size, even via retirement, I'm highly skeptical. Also reducing Capital gains tax is right there for the rich.

Pretty much he is still adding to the debt. Spending is spending. Still not seeing much daylight between the two. Very similar platforms.

And Carney is still a private equity dude.

Govt spending will continue to grow, as will revenues. The key is to slow down the growth in spend and increase the revenues.

 

[Shaquille Oatmeal]

He is claiming a lot of money saved, per year, in government efficiency, but unless he plans to reduce the employment size, even via retirement, I'm highly skeptical....Spending is spending.

He will probably cut consultants, trimming certain programs and ending pandemic era programs.
Also not all spending is the same.
Operating expenses are not the same as capital expenses to acquire assets that return economic value.

 

[40micmic]

Man I really wish I saw Carney's build Canada Strong by exponentially increasing deficits economic plan before I voted today. Would've swayed me to vote liberal

 

[bazokajoe]

If this doesn't wake you up, I don't know what will.

Carney platform promises $130B in new spending, deficits until 2029

Mark Carney’s plan for Canada includes $130 billion in new spending which will see the country run deficits until at least the fiscal year 2028-2029.

www.ctvnews.ca

He was smart to save this until after the Debate.

My heart literally skipped a beat when I saw this.

$130 Billion .....so in reality more like $200+ Billion.

 

[oil&gas]

It's not spending, it's investing.

Was the payment of interest (~ $54 billion) incurred by
the federal debt spending or investing?

 

[40micmic]

You gotta spend money to make money. And if that doesn't work, just spend more. I guess you guys never took Economics?

 

[Butler1000]

He will probably cut consultants, trimming certain programs and ending pandemic era programs.
Also not all spending is the same.
Operating expenses are not the same as capital expenses to acquire assets that return economic value.

For those levels of cuts you have to cut payroll. That is the primary cause of inefficiencies cost. Bad employees.

And is the vast majority of govt costs unless you are cutting programs.

 

[Butler1000]

Govt spending will continue to grow, as will revenues. The key is to slow down the growth in spend and increase the revenues.

Which the Liberals failed to do. And in the case of Carney I doubt he will be better.

 

[Shaquille Oatmeal]

For those levels of cuts you have to cut payroll. That is the primary cause of inefficiencies cost. Bad employees.

And is the vast majority of govt costs unless you are cutting programs.

When they cut consultants, or they trim unnecessary programs, of course they will cut payroll.
But I imagine there is a lot more to these expenses than just payroll.

 

[bver_hunter]

Dude, Carney isn't going to do any of that. He is a banker private equity guy. He will be the first to line the pockets of his friends via crony capitalism.

You are confusing Carney with Pee Pee.
In the past we have seen the Conservatives just giving huge tax breaks to the elitists and not really bothered to help the lower and middle class.
To the it is a trickle down that would benefit the average Canadians if you line the pockets of the highest earners and multibillionaires!!

 

[Butler1000]

You are confusing Carney with Pee Pee.
In the past we have seen the Conservatives just giving huge tax breaks to the elitists and not really bothered to help the lower and middle class.
To the it is a trickle down that would benefit the average Canadians if you line the pockets of the highest earners and multibillionaires!!

Carney is a card carrying member of the "elite". Why would anyone believe he has the middle class at the forefront.

 

[Butler1000]

When they cut consultants, or they trim unnecessary programs, of course they will cut payroll.
But I imagine there is a lot more to these expenses than just payroll.

Then you don't understand bureaucratic institutions. After actual program costs, employee costs are the major expense. Sometimes more.

So either cut the programs directly, which he is promising not to do, and infact increase them, or cut payroll which the Fed Union won't let happen.

So it's all smoke and mirrors.

 

[bver_hunter]

Carney is a card carrying member of the "elite". Why would anyone believe he has the middle class at the forefront.

Just because he was The Governor of The Canadian and UK banks?
Fact is that his platform has a message to help the middle and working class unlike Pee Pee, who will just give the biggest tax breaks to the elitists as well as huge Corporate Tax Cuts as well!!

 

[Shaquille Oatmeal]

Then you don't understand bureaucratic institutions. After actual program costs, employee costs are the major expense. Sometimes more.

So either cut the programs directly, which he is promising not to do, and infact increase them, or cut payroll which the Fed Union won't let happen.

So it's all smoke and mirrors.

Not true.
That is an oversimplification to push a narrative.
We don't yet know what programs he may or may not cut and how he plans to realize savings.
It could be via termination of certain programs, termination of consultant contracts (who are not union), process improvements, digitization, automation etc.,
Most likely a combination of a number of things.

 

[Butler1000]

Not true.
That is an oversimplification to push a narrative.
We don't yet know what programs he may or may not cut and how he plans to realize savings.
It could be via termination of certain programs, termination of consultant contracts (who are not union), process improvements, digitization, automation etc.,
Most likely a combination of a number of things.

So why would I vote for someone when they haven't said what they are going to do? And how they are going to do it.

That's sounds a lot like a Trumpish planning style to me.

 

[Butler1000]

Just because he was The Governor of The Canadian and UK banks?
Fact is that his platform has a message to help the middle and working class unlike Pee Pee, who will just give the biggest tax breaks to the elitists as well as huge Corporate Tax Cuts as well!!

And because he worked for both Goldman Sachs and was Top guy at Brookfield Management . That makes him foremost an ally to Private Equity.

Seriously, he is a card carrying elite. You can't deny this. That is his resume.

 

[Shaquille Oatmeal]

So why would I vote for someone when they haven't said what they are going to do? And how they are going to do it.

That's sounds a lot like a Trumpish planning style to me.

They have.
But what you are requesting is basically an analysis of what is going to be cut and how.
That isn't for people to know at this stage and it isn't ever a part of a platform or a mandate.
What does Pierre have?
Outdated slogans.

 

[DesRicardo]

Here are the facts as far as I have read up until now:
- Carney separates operating expenses (wages, daily expenses etc) and capital expenses (investments in long-term assets like infrastructure, clean energy, and defense , accepting modest deficits to finance these initiatives.).
This is good. We need these investments to grow.
He has also promised to balance the operating budget over 3 years.
- The proposed $130 billion in new spending is directed towards areas expected to yield significant economic returns.
This includes enhancing national trade corridors, expanding housing initiatives, and increasing defense spending to meet NATO commitments.
Such investments are designed to stimulate private sector participation and drive economic expansion.
- Carney emphasizes fiscal prudence by aiming to reduce the federal deficit from 1.96% of GDP in 2025-26 to 1.35% by 2028-29.
This trajectory is facilitated by curbing the growth of government spending from 9% to approximately 2% annually, without reducing transfers to provinces or individuals
- There are few others such as tax reforms to support households etc.,
I watched this video up until he said Carney is wasting money on interest charges.
That is stupid.
Capital spending always involves borrowing—this is normal.
But it creates economic value.
Underinvesting in these assets is actually costlier than interest charges as your productivity falls, housing shortages worsen and the military remains under resourced.
In short these video makers either dont know what they are talking about or they are misleading you with talking points.

 

[nottyboi]

Was the payment of interest (~ $54 billion) incurred by
the federal debt spending or investing?

Accounting 101, anything that has no future value is an EXPENSE.

 

[Shaquille Oatmeal]

What I posted was accurate and factual.
The video you posted was of a guy who didnt know what he was talking about.