DIY-HP-LED
Well-Known Member
Economic trends tend to be global, as everybody working with the same information comes to the same conclusions. Here is a story about Canada's new budget and there are striking similarities to the democrats budget proposals and Joe's initiatives in America. Trudeau is running pretty left though, he has a minority government and is strong in the polls right now and the NDP (the left) dare not oppose this, they wouldn't want to run against it in the election. Chrystia is a pretty smart lady and is deputy PM and finance minister, much of this stuff applies to America, like I said, it's a global trend like evil twins of Reaganism & Thatcherism. The changes are more clearly seen in Canada where there is less compromise and political/social division, than in the states because of the parliamentary system we use and a different history on matters of race.
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With one budget, Freeland overturned 3 decades of political orthodoxy | CBC News
With one budget, Freeland overturned 3 decades of political orthodoxy
The Liberals think Canadians are ready to move on from the Reagan-Thatcher school of small government
Nearly seven years ago, a rookie politician surveyed the political landscape across the democratic world and saw the outlines of a new era.
"What we are seeing, in both Western Europe and North America, is the end of the Reagan/Thatcher era and of the political ideas that created it," Chrystia Freeland wrote at the time.
While in power, U.S. President Ronald Reagan and U.K. Prime Minister Margaret Thatcher personified an anti-government agenda that prioritized cutting taxes, repealing regulation, shrinking the state and deferring to the market. For nearly three decades that agenda held sway in the West, reining in the governing visions of even liberal politicians.
But in July 2014, Freeland was arguing that the Western world was on the cusp of what she called a "new tectonic political shift" requiring a change in thinking by and about government.
Back then, Freeland — Justin Trudeau's first star recruit — had been an MP for just eight months. Now she's a finance minister staring down the painful endgame of a global pandemic and the unpredictable future that will follow it.
The budget she tabled on Monday is about dealing with the immediate threat of COVID-19 and then repairing and revitalizing the economy with an eye to the future. But it can also be read as a document that nudges the federal government and the political debate further away from the thinking of Reagan and Thatcher (and, in the Canadian context, Stephen Harper).
Permanent spending changes things
The budget proposes $135 billion in new spending over the next five fiscal years, most of which will be spent over the next three years to deal with the impact of the pandemic and to stimulate the economy as the virus recedes.
But there is significant permanent spending here too: for fiscal 2025-2026 — which is as far ahead as this budget looks — Freeland has budgeted for $16.1 billion in new federal spending.
More than half of that — $8.4 billion — would go toward early learning and child care, matching almost exactly what advocates had said would be necessary to deal with a lack of high-quality, affordable spaces.
But the budget also offers new and substantial sums for Old Age Security ($3 billion), public transit ($2.6 billion) and measures related to climate change and the environment ($1.9 billion). Expanding access to the Canada Workers Benefit — a refundable tax credit that supports low-income earners — would cost an additional $1.7 billion; Freeland says that could lift 100,000 people out of poverty.
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With one budget, Freeland overturned 3 decades of political orthodoxy | CBC News
With one budget, Freeland overturned 3 decades of political orthodoxy
The Liberals think Canadians are ready to move on from the Reagan-Thatcher school of small government
Nearly seven years ago, a rookie politician surveyed the political landscape across the democratic world and saw the outlines of a new era.
"What we are seeing, in both Western Europe and North America, is the end of the Reagan/Thatcher era and of the political ideas that created it," Chrystia Freeland wrote at the time.
While in power, U.S. President Ronald Reagan and U.K. Prime Minister Margaret Thatcher personified an anti-government agenda that prioritized cutting taxes, repealing regulation, shrinking the state and deferring to the market. For nearly three decades that agenda held sway in the West, reining in the governing visions of even liberal politicians.
But in July 2014, Freeland was arguing that the Western world was on the cusp of what she called a "new tectonic political shift" requiring a change in thinking by and about government.
Back then, Freeland — Justin Trudeau's first star recruit — had been an MP for just eight months. Now she's a finance minister staring down the painful endgame of a global pandemic and the unpredictable future that will follow it.
The budget she tabled on Monday is about dealing with the immediate threat of COVID-19 and then repairing and revitalizing the economy with an eye to the future. But it can also be read as a document that nudges the federal government and the political debate further away from the thinking of Reagan and Thatcher (and, in the Canadian context, Stephen Harper).
Permanent spending changes things
The budget proposes $135 billion in new spending over the next five fiscal years, most of which will be spent over the next three years to deal with the impact of the pandemic and to stimulate the economy as the virus recedes.
But there is significant permanent spending here too: for fiscal 2025-2026 — which is as far ahead as this budget looks — Freeland has budgeted for $16.1 billion in new federal spending.
More than half of that — $8.4 billion — would go toward early learning and child care, matching almost exactly what advocates had said would be necessary to deal with a lack of high-quality, affordable spaces.
But the budget also offers new and substantial sums for Old Age Security ($3 billion), public transit ($2.6 billion) and measures related to climate change and the environment ($1.9 billion). Expanding access to the Canada Workers Benefit — a refundable tax credit that supports low-income earners — would cost an additional $1.7 billion; Freeland says that could lift 100,000 people out of poverty.
