Thursday, February 5, 2009

We're in the Money

I don't know about you, but I had a very nice shopping holiday over December despite the poor deals that offered no real savings to the consumer. I received my VISA bill at the end of the month and let me tell you, I have been penny pinching throughout January to make it past the month, but pinch no more, as the song goes, "we're in the money!"

Finance Minister Jim Flaherty announced that the Conservative government will run a $40 billion deficit over two years. (Read "$40-billion recipe to juice the economy").

"The budget, tabled Tuesday in the House of Commons, will see government spending increase by nearly 11% to $206.8-billion and revenue drop roughly 5% in the 2009-10, leading to a $33.7-billion deficit.

I did the math, 40 billion over two years divded by around 33 million people and what do you have? Around 600 bucks each! I would like to take this time to let the government know that I accept all forms of payment including Paypal, credit card, certified cheque, direct deposit, practically everything except government issued IOUs. Then I started to make a shopping list of all the things I would buy..until I read the fine print of course.

"The budget casts a wide net, and throws money at a number of fronts. A chunk of the spending programs are designed to expire after the second year. There are permanent personal tax cuts, about $12-billion for infrastructure projects, and financial incentives to persuade households to undertake home renovations. Some analysts said that, surprisingly, the budget did not have a core focus"

First of all, I don't own a house or any infrastructure?! Why does the government decide how I spend my money? I feel as though I would do a much better job stimulating the economy, especially in the industries of beer and popcorn. I guess it's back to penny-pinching for me.