Normally, we do not comment on politics and government policies. However, there was a proposal in the 2011 Canadian Budget that irritated us to no end. Labeled as "Completing Canada's Highway Coast To Coast To Coast", the Federal government plans to contribute C$150 MM over 5 years from the 2012-13 fiscal year towards building a highway between Inuvik and Tuktoyaktuk.
We must apologize in advance to the 870 inhabitants of Tuktoyaktuk - we do not mean to be disrespectful or rude. But in an era of austerity, when governments the world over are looking for ways to trim budgets and find savings, earmarking C$150 MM towards a road to almost nowhere is not the right answer. The federal deficit is projected to be over C$40 BB in the 2012-11 fiscal year, for crying out loud!
Canada is not the U.S. in terms of fiscal largess. But that is not saying a whole lot. In trying to emulate our southern neighbour, we should try to copy the good parts (the proposed dismantling of Freddie Mac and Fannie Mae) and not the bad parts (Bridge To Nowhere).
- Your Disappointed Analyst
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