All Things Trudeau, Chapter 2

[jimmy4321]

removed

[Silverstarqueen]

Another Bright Light criticizes Trudeau, for cutting him out of his big movie appearance:
https://www.msnbc.com/morning-joe/watch ... 5745861995

[crookedmember]

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[crookedmember]

Justin Trudeau has given us and is presiding over the best Canadian economy in many decades.

Good work, Mr. Trudeau!

[jimmy4321]

Ahhhh! Trudeau, you sent the Harper Cons into the stone age and sent the replacement token leader packing 4 yrs later- thank you for your service

[crookedmember]

Ahhhh! Trudeau, you sent the Harper Cons into the stone age and sent the replacement token leader packing 4 yrs later- thank you for your service

That's just not true! Trudeau sent the replacement token leader packing in less than 2 1/2 years.

[jimmy4321]

STILL , Trudeau Liberals would win if an election were held today

https://twitter.com/abacusdataca/status ... 33408?s=19

[Pete Podoski]

I have to say, I like Jagmeet a lot more than I like Justin.

I think Jagmeet is in it for the right reasons, wanting what he believes is best for Canada.

Justin, in contrast, is only in it for himself and his wealthy financiers, that has been made quite obvious.

[Pete Podoski]

*removed*

[crookedmember]

Trudeau is also a very classy guy.

I remember during the debate when Andy Scheer went on his childish rant calling Justin a 'phony,' Trudeau just smilled and ignored the lad.

Later in the debate when Andy made his ridiculous and sophomoric claim that he was taking bets that he would be PM in October, Trudeau somehow managed to stiffle derisive laughter.

I was rolling on the floor. Trudeau is a much better man than me!

[The Green Barbarian]

Trudeau is also a very classy guy.
!

LOL - thanks for the New Years Eve Eve belly laugh. No, he's not a "classy guy". "Classy guys" don't run around in brown and black face, making fun of other races. That's the opposite of "classy guy".

[Pete Podoski]

Trudeau is also a very classy guy.
!

LOL - thanks for the New Years Eve Eve belly laugh. No, he's not a "classy guy". "Classy guys" don't run around in brown and black face, making fun of other races. That's the opposite of "classy guy".

And classy guys don't taunt First Nations people who are struggling with mercury-contaminated water by yelling "Thank you for your donation to the Liberal Party."

Trudeau is vile and disgusting. He epitomizes classlessness.

[Hurtlander]

Trudeau is also a very classy guy.

Trudeau certainly wasn’t very classy when he groped a female reporter at a festival, nor was he classy when he flew off in a rage and elbowed an opposition female MP.
How anyone can defend Trudeau’s actions is simply mind boggling..

[hobbyguy]

Perhaps much to the chagrin of the Conservative Trudeau bashers, the current head of the PBO is questioning the validity of the size of deficit that Morneau has projected, indicating that it should be much smaller.

https://www.theglobeandmail.com/politics/article-sudden-spike-in-federal-deficit-projections-blamed-on-accounting/

"Parliamentary Budget Officer Yves Giroux said in an interview that it appears the primary cause of the sudden and dramatic swing in the size of federal deficit projections is a little-discussed accounting change the government adopted in 2018 related to how to estimate the cost of the government’s future pension and benefit liabilities to public servants.

Mr. Giroux said his office is asking officials for more information behind the surprise swing, which was revealed in Finance Minister Bill Morneau’s Dec. 16 fall economic update. Just nine months after the release of the March budget, the update reported that deficits are now projected to be much larger – by about $7-billion a year – than forecast in March.

Yet most of the change had nothing to do with big spending or economic changes. The largest factor was a $27.8-billion swing over five years owing to adjustments to cover the costs of pension and benefit programs for public-sector employees."

SNIP

"The 2018 change relates to how Ottawa should plan for the massive, unfunded debt it owes to federal public servants for work up till the year 2000. Since that year, Ottawa has been putting money aside in pension funds to cover the cost of future benefit payments. But before that, federal pension obligations were largely a bookkeeping exercise that has produced an unfunded obligation worth more than $200-billion."

SNIP

"Former auditor-general Michael Ferguson had warned the government that the interest rate it was using – based on a 20-year average of long-term Government of Canada bonds – was too high, especially in light of the prolonged period of ultralow interest rates in recent years.

The new approach is to use the current Government of Canada bond yields, essentially replacing a backward-looking guide with a forward-looking one. The benefit of the change is that it uses more current data to reflect the view that interest rates are now much lower and are expected to stay near historical lows for a while."

SNIP

"Chris Aylward, president of the Public Service Alliance of Canada, the largest union of federal public servants, strongly objects to the accounting change and said it was “rushed through” without consultation.

“This change artificially shows the plan to be costlier than it truly is," he said in a statement. “Pension plan obligations are long-term in nature. Pegging this [interest] rate to a snapshot at only one point in time inaccurately assumes that all liabilities must be discharged in that year.”"


In a nutshell, the 2018 change the Liberals made to account for the massive unfunded pension liability is having a big impact on Ottawa's bottom line - without changing spending by a nickel. It looks like some, like the former auditor genereal, are in agreement with the more pessimistic accounting method, and others, like the current PBO head are not so much.

From what I can tell, Morneau is erring on the side of prudence. Adding nearly $28 billion over 5 years to the deficit to cover unfunded pension liabilities from 2000 and earlier. In doing so, however, Morneau is - in essence - forecasting that interest rates are going to stay low for a very long time. That forecast isn't transparent.

The other thing that gets tricky about this, is that another finance minister may tinker with forecast to make the deficit look lower, or the same while spending like crazy....

I am wondering that IF this accounting change is in fact a good thing - then should the interest rate forecast not come from, say, the BOC??

[Jlabute]

Trudeau is also a very classy guy.
!

LOL - thanks for the New Years Eve Eve belly laugh. No, he's not a "classy guy". "Classy guys" don't run around in brown and black face, making fun of other races. That's the opposite of "classy guy".

Hahaha, although I could agree he is stylish, classy is a definite no. Trudeau wears an IWC Regulateur watch which is an absolute expensive gem in the watch world, and I think he has no clue what he is wearing. He drives his 300SL as though he would have chosen it. He has no clue what he is driving. Even still, the style he has is inherited. His specialty is knowing how to wear cool socks. When most people call Mr. f-bomb Trudeau classy, they say it facetiously.