Our Republican Finance Minister
Date: Friday, November 24 2006
When Jim Flaherty talked about paying down Canada's net debt he included using the budget surplus from the Canada Pension Plan. Shades of the USA. Thats excatly what the US Congress does and look at the mess it has gotten them into. This is a net-gain-zero idea. One that would in the long run lay the basis for the privatization of Social Security in Canada. Now what kind of government would do such a thing? Why, the Republican Lite Reform/Alliance/Conservatives, of course. The old Reform party raised the idea years ago.
Flaherty's promise raises eyebrows
"Bill Robson, president of the C.D. Howe Institute, said the net debt figure isn't really a true indication of public debt because the Canada and Quebec pension plans also have major liabilities in the future when Canadians retire. "You can't start adding the Canadian Pension Plan money into the overall debt figure," Robson said. "There is a big liability out there for the Canadian Pension Plan to pay those pensions. That's what that money is for. It's not available for other uses."
[Proofreader's note: this article was edited for spelling and typos on November 27, 2006]