Monday, March 2, 2015
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A $50-billion deficit: the next useful crisis

The principal explanation behind the $50-billion deficit: the huge tax cuts made by the federal Liberals and Conservatives since 1995.

Photographs by Jake Wright, The Hill Times

VANCOUVER—It is astonishing given all the commentary and news stories about the "sudden" $50-billion federal deficit there has not been a single story in the mainstream media that focuses on the principal explanation: the huge tax cuts made by the Liberals and Conservatives since 1995. First it was finance minister Paul Martin with his $100-billion income tax cut over five years starting in 2000; then it was Jim Flaherty in 2007 with $60-billion over five years. Add to that the $12-billion lost each year by lowering the GST from seven per cent to five per cent and the $50-billion is no mystery—it was an inevitability whenever the next recession hit.

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A $50-billion deficit: the next useful crisis

The principal explanation behind the $50-billion deficit: the huge tax cuts made by the federal Liberals and Conservatives since 1995.

Photographs by Jake Wright, The Hill Times

VANCOUVER—It is astonishing given all the commentary and news stories about the "sudden" $50-billion federal deficit there has not been a single story in the mainstream media that focuses on the principal explanation: the huge tax cuts made by the Liberals and Conservatives since 1995. First it was finance minister Paul Martin with his $100-billion income tax cut over five years starting in 2000; then it was Jim Flaherty in 2007 with $60-billion over five years. Add to that the $12-billion lost each year by lowering the GST from seven per cent to five per cent and the $50-billion is no mystery—it was an inevitability whenever the next recession hit.

  

Parliamentary Calendar
Monday, March 2, 2015
HILL LIFE & PEOPLE SLIDESHOWS
ITK hosts intimate preview of next week's Taste of the Arctic event March 2, 2015

The Hill Times photograph by John Major
ITK project coordinator Looee Okalik, using an 'ulu' or 'woman's knife' to cut off a portion of 'Nikku' or dried caribou.
The Hill Times photograph by John Major
NAC Le Café's executive chef John Morris explaining his take on traditional Inuit menu items.
The Hill Times photograph by John Major
First Air's Elisapee Sheutiapik, also former mayor of Iqaluit, with ITK health and social development assistant director Anna Fowler.
The Hill Times photograph by John Major
First Air's Ron Lowry, Ms. Sheutiapik, ITK's Looee Okalik, iPolitics' Elizabeth Gray-Smith, ITK's Anna Fowler, The Hill Times' Rachel Aiello, First Air's Bert van der Stege, and ITK's Kathleen Tagoona.
The Hill Times photograph by John Major
After the tasting, Chef John Morris joined the guests for the mini-feast of traditional Inuit foods.
The Hill Times photograph by John Major
Chef John Morris spoons some jus on Ottawa Citizen food editor Peter Hum's plate.
The Hill Times photograph by John Major
First Air's Ron Lowry and Bert van der Stege; and ITK President Terry Audla.
The Hill Times photograph by John Major
ITK president Terry Audla digging in to the frozen Arctic char or 'Iqaluk' meat from the Rankin Inlet.
The Hill Times photograph by John Major
First Air's Ron Lowry adding a bit of seal fur to his suit.

MICHAEL DE ADDER'S TAKE