From The Real News Network, May 16th 2011: "WikiLeaks Reveals US Wanted to Keep Russia out of Libyan Oil"
Kevin Hall in conversation with Paul Jay
http://therealnews.com/
So here we are again, Canadian Forces - through our NATO membership - fighting another war of aggression to control oil fields that as an oil exporting nation we have no interest in.
After the Conservative Majority was elected on May 2 2011, Bloomburg Press asked Federal Finance Minister Jim Flaherty to reassure Bay Street about his plans for the next budget (June 2011). He said the Conservatives will stay the coarse. (Bloomburg Press May 11, 2011 - "Flaherty Vows to Use Parliament Majority to Erase Budget Deficit by 2014".)
Harper's pledge at the G-20 Summit in Toronto on June 26th, 2010 stands (see excerpt from G20 Summit, Final Declaration at the end of this essay), says Flaherty - all the stimulus spending will be re-coped with spending reductions of C$4.3 Billion/year over three years.
Added to this balance sheet though is a 6B/year corporate tax reduction that lowers the Canadian Corporate tax rate to the lowest of any developed country in the world. Added to that is a promised new income tax rule that allows spouces with children under 18 years to declare their incomes separately. Collectively these measures will reduce Federal income by 10B/year - so $4.3 Billion in reduced spending, coupled with the 10 Billion per year in reduced revenues, leaves $14.3 Billion per year over three years in spending reductions in order to balance Canada's year to year accounts by 2015.
Those spending cuts could come through the cancellation of the contract to purchase 60 - F-35 Joint Strike Fighter jets from Lockheed Martin - killing airplanes that bomb innocent civilians in the streets of countries chosen by powerful interests who's agenda remains hidden from view - chosen for reasons that will be spun down to us by our 'free press' with words like 'human rights' and 'despotic leader'.
But those kind of cuts won't happen. Instead we'll cut programs that help people, and we'll further embed our economy with the corporate horsemen of a peak oil apocalypse.
Now that's some forward thinking Mr Harper - coming soon to a Federally funded service near you.
* * *
From "The G20 Toronto Summit Final Declaration (June 26 – 27, 2010)" (my emphasis)
...
10. We are committed to taking concerted actions to sustain the recovery, create jobs and to achieve stronger, more sustainable and more balanced growth. These will be differentiated and tailored to national circumstances. We agreed today on:
* Following through on fiscal stimulus and communicating “growth friendly” fiscal consolidation plans in advanced countries that will be implemented going forward. Sound fiscal finances are essential to sustain recovery, provide flexibility to respond to new shocks, ensure the capacity to meet the challenges of aging populations, and avoid leaving future generations with a legacy of deficits and debt. The path of adjustment must be carefully calibrated to sustain the recovery in private demand. There is a risk that synchronized fiscal adjustment across several major economies could adversely impact the recovery. There is also a risk that the failure to implement consolidation where necessary would undermine confidence and hamper growth. Reflecting this balance, advanced economies have committed to fiscal plans that will at least halve deficits by 2013 and stabilize or reduce government debt-to-GDP ratios by 2016. Recognizing the circumstances of Japan, we welcome the Japanese government’s fiscal consolidation plan announced recently with their growth strategy. Those with serious fiscal challenges need to accelerate the pace of consolidation. Fiscal consolidation plans will be credible, clearly communicated, differentiated to national circumstances, and focused on measures to foster economic growth.
* Strengthening social safety nets, enhancing corporate governance reform, financial market development, infrastructure spending, and greater exchange rate flexibility in some emerging markets;
* Pursuing structural reforms across the entire G-20 membership to increase and sustain our growth prospects; and
* Making more progress on rebalancing global demand.
Monetary policy will continue to be appropriate to achieve price stability and thereby contribute to the recovery.
...
mh
