IMF warns of 'new dangerous phase,' but Ottawa resisting second stimulus

OTTAWA - The Harper government is resisting calls for a second round of stimulus — for now — after a leading international organization warned of a global slowdown and Canada's central banker voiced concern about the impact at home. New Democrats in the House of Commons blasted the government Tuesday for stubbornly refusing to act in light of the grave risks facing Canada. But Finance Minister Jim Flaherty shot back that he won't rush headlong into a second stimulus package that would sink the country further into debt.

ca.finance.yahoo.com...

Canada has been mentioned a lot lately with the IMF targeting Canada's growth, stimulus packages etc. But I think whatever happens to Greece will affect us all.

The two things Harper has done right (Don't get me wrong...I hate the man otherwise) are
1) lowered the GST by 2% as promised (still promised to lower another 2% here's hoping he will)
2) Not done anything rash when it comes to "kick starting" the economy and gets his henchmen to look long and hard at the pro's vs cons. So far his monetary policies have kept us distant from the total crap shoot. It's going to come, but this government has done the right thing and not jump on board with the rest of the world in bowing to the IMF.

yea true, I know Obama's buy American policy is going to hurt Canadian jobs, however Harper is looking for Canada to be exempt, but the sad thing is if the American market place crashes, so does the Canadian one, they will drag us down with them.

Originally posted by Vardoger
The two things Harper has done right (Don't get me wrong...I hate the man otherwise) are
1) lowered the GST by 2% as promised (still promised to lower another 2% here's hoping he will)
2) Not done anything rash when it comes to "kick starting" the economy and gets his henchmen to look long and hard at the pro's vs cons. So far his monetary policies have kept us distant from the total crap shoot. It's going to come, but this government has done the right thing and not jump on board with the rest of the world in bowing to the IMF.

I also heard him say (this morning's news) that he would NOT be raising anyone's taxes, personal or business, because higher taxes do not add to growth of an economy

He has his good moments now and again.

Finance Minister Jim Flaherty shot back that he won't rush headlong into a second stimulus package that would sink the country further into debt.

My dude Jim Flaherty doin' it right

while i may hate harper you are correct he has done two things right thus far.....and im glad they dont just rush in and throw money around...id rather wait and see how bad it gets before trying to make a bad situation worse....

Even though I voted NDP, Harper has stood his ground in this financial crisis, I would really hate to see what Ignatief would have done in this situation.