Budget watchdog at odds with Harper on pension plan

Kevin Page, the parliamentary budget officer, said Wednesday that even with an aging population, there is no financial reason to overhaul the old age pension system. Ottawa Bureau Chief Robert Fife reports.

Question period: MPs debate OAS affordability

Opposing MPs trade barbs over Old Age Security reform, after the country's budget watchdog said demographic time bomb that will hit Canada once the baby boomers retire won't cause a fiscal crisis

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Parliamentary Budget Officer Kevin Page speaks to CTV News Wednesday, Feb. 8, 2012.

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CTVNews.ca Staff

Date: Wed. Feb. 8 2012 11:24 PM ET

The oncoming demographic time bomb of baby boomers retiring won't cause a fiscal crisis Canada's budget watchdog said Wednesday, despite the Harper government's repeated assertions to the contrary.

Parliamentary Budget Officer Kevin Page said in a report that the federal government will have the fiscal ability to enrich benefits for seniors and cut taxes, if they choose to do so.

Prime Minister Stephen Harper set off a political firestorm in January after suggesting in a speech delivered in Davos that it was a priority of his government to reform pension benefits.

Since then, government ministers have repeatedly said Canada's pension system is "unsustainable" and in "crisis."

During question period in the House of Commons Wednesday, the opposition demanded to know why the government is taking that position.

Interim Liberal Leader Bob Rae said Page's report is proof the Conservatives only have a political agenda in mind for changing the pension benefit system.

"The report says clearly there is no fiscal issue with the federal pension plan in Canada, none whatsoever. The only risk to Old Age Security . . . is the government of Canada," he said.

Defence Minister Peter MacKay said no Canadian currently receiving Old Age Security benefits would lose a "red cent" under any changes made by his government.

He then quoted former prime minister Jean Chretien who said "everyone recognizes that demographic changes in our society mean that we will have to make changes to ensure that our pension system remains sustainable for future Canadians."

NDP MP Wayne Marston asked why the Conservatives are "upsetting Canadians for no good reason" when Page says the system is sustainable.

One of the potential changes that the government has not denied it is contemplating is raising the age of eligibility for OAS from 65 to 67.

Marston asked the question directly to the government during question period.

Minister of Human Resources Diane Finley answered the question, saying the government would "take care of seniors" but did not directly respond to the OAS eligibility age issue.

Rae said the government's plans will "hurt poor people."

Page's report

The PBO report says the government's burden to pay for aging senior will increase -- from 14.8 per cent of program spending today to 20.9 per cent in 2030-31-- but it won't break the bank.

"PBO's updated long-term debt-to-GDP (gross domestic product) show that the federal fiscal structure is sustainable even under the baseline assumption that there is some additional enrichment to elderly benefit payments," the report states.

"This indicates that... the federal government could reduce revenue, increase program spending or some combination of both by 0.4 per cent of GDP annually while maintaining fiscal sustainability."

The Harper government has said that the total cost of OAS benefits, which are about $500 a month for Canadians over 65, will triple from $36 billion now to $108 billion by 2030.

Page said the cost will likely be about $142 billion by 2036-37.

Comments are now closed for this story

BL
said

What part of Conservative Majority don't you understand Canada?

Lorne-MTL
said

I miss the Liberals.

Joan in Real World
said

Will, let the man speak. What he says is interesting. I googled his information and got more interesting comments from other pension research experts who seem bewildered by Harper's claims. This is a scary time to be led by ideologues.

devils advocate
said

unsustainable = gold-plated MP pensions! Do something about that then maybe dare to talk about ordinary canadians' meagre pensions being "unsustainable". You have NO credibility talking about pensions while you greedily cart away huge bags of taxpayer funded cash after only 6 years.

Dilys
said

We could all go on welfare at 65 you get dental, medical, optical and food stamps as well as a cheque!

Will
said

Bumcrack USA: if you are indeed american, then you are NOT entitled to speak on our internal matters. BUTT OUT.

Saskmike
said

Hey John Lethbridge. My house was $76,000.00 twenty years ago. Now it's worth over $300,000.00. We won't even discuss how wages differ or the cost of food. If I had said my house was going to be $300,000.00 twenty years ago, someone (you) would say that I'm a lunitic. HUM!

Libertarian
said

If I were in my mid forties and so jilted to offer nothing other than cheap sarcasm in debate forums, I would be worried far more than how OAS is going to shake out. However, there are real people in this forum who, no matter how the government proceeds, are going to be affected by changes to OAS. And, unlike some posters here, the changes may adversely affect their ability to meet their basic needs.

A Koster
said

We hear this from Page and yet we know that Harper will put through any cuts and changes that he feels like because he has a majority. He has already increased cpp premiums even though he announced from Davos that cpp is fully funded... and we already knew that only a third of the cpp fund is being used for current payouts. The one thing we don't know at this point is where the money is going.

Vets not Jets!
said

OAS, Injured veteran pensions, let's slash these.. as long as we keep giving Members of Parliament a lifetime pension after 5 years of working about 7 months of the year. BS!

Guelph Observer
said

I'll take the PBO's analysis over Harper and company any time. Harper wants to steal from the poor (up-coming seniors) to give to the rich (his corporate buddies. And Prof Pye: what are you babbling about now - as usual you don't make any sense.

cyberclark
said

He is using his majority to enforce a Conservative dream of privatizing the CPP and do away with the Social Security. This is his drive; his sole goal!

No amount of reasoning is going to change his mind.

We have a dictator on our hands now folks; Time for an Arab Spring Canadian style! Long guns are legal again.

KC. BC
said

This is a difference of opinion based on different parameters and timelines. I still think this was put out to the population to attempt to get a debate going about an important issue. Any reasonable and forward thinking person can see the wisdom of raising the age of elligebility so future generations get a piece of the pie. As this is being written the minimum wage in Greece is likely to get a 20percent haircut and a whole wack of public employees are about to get the axe. I want our government to prevent this kind of thing!

Vanc Guy
said

The PM is being responsible by reviewing these sacred cows. Reviewing doesn't mean taking any action - the media and the opposition are responsible for that nonsense. One has to wonder at this report though sure makes it sound like spending is easy.

Christine
said

how come there is no money and canada is going in debt?

J.C.
said

Everyone should write their MPs and tell them that their pensions should be reduced as they are certainly not sustainable the way they are now. No taxpayer should have to pay anymore than a dollar per dollar paid in by MPs, and further more they should be subject to the same risks that our pensions are subject to as well instead of receiving 10% interest from our tax dollars. Even the banks do not charge 10% currently nor are they giving 10% interest. Most MPs make far more than the average Joe as it is.

bcken
said

Remember folks, this particular brand of Conservatives beleive in incrementalism. They figure if they move slowly they can create the Canada of their dreams without the rest of us noticing. They're really playing a simple game. Cut tax revenue from corporations, with no benefit to Canadians, then turn around and state such necessities as OAS and public health care are unsustainable. Of course we can afford those things, but voters have got to decide what Canada they want.

Terrified of getting to 65
said

I'm terrified at what is happening.I worked 43 years,saved and then became disabled with extensive heart disease.Because I saved and sold my house I qualify for NOTHING other than CPP at 60 ($389) till I'm 65.By then I will have less than $500 left in my bank account.I currently spend $1100 a month to live.By delaying the OAS all benefits tied to OAS will ALSO be delayed.(GIS,AIS,etc) Try living on a pension of $389 (actual CPP payment).And I sincerely question why someone earning $50,000 qualifies for OAS?Why do all those employed in Ottawa get to live on our money doing nothing but filling their own pockets by taking everything going into other peoples pockets.

Christine
said

its sad that our elders have worked their 40 years plus and helped with getting saint john to where it is and they get the short end of the stick when the retire. sad. maybe we would have more money for them if welfare people were reviewed every 6 months and given drug tests. I would rather my money go to elders who want to retire after a long time of working. I feel like things need to be changed for people to be happy.

Poor guy....
said

At odds with Lord Harper? Oh no, I guess he will be looking for a new job. Not good to question the all mighty Harper.

Prairie taxpayer
said

I've been paying into CPP for 45 years but Harper keeps talking about this as if it is his money. Where did my money go Harper - to pay for your pension???

John Lethbridge
said

So is Page agreeing with the 108 billion by 2030, but disagreeing with the government by saying that this IS feasible? I don't see much of a dispute with the numbers, in fact Page is saying the cost will be around $142 billion by 2036, which is sort of in line with the government projection of 108 billion by 2030 (only using apples to compare with oranges). If all things are equal, the government would have to tack on an additional 100 billion to their expenses by 2036 (which is way more than our deficit for this past year), and Page is saying - no problem...? Wow, something stinks here folks. My vote is with Flaherty/Harper.

Tom in Calgary
said

It is so good to hear another view on this. Open debate is healthy. It must be tough for the Conservatives though. They have to keep attacking this fellow, but alas they will. The various pye charts they pull out to do the deed, will gladly do so.

senior taxpayer
said

Listen here conservatives, the issue is with increasing the OAS age eligibility from 65 to 67 I have not heard one conservative minister mention that no baby boomer who quallifies will not have to wait to 67 to receive his OAS... it is obvious that Harper, Flaherty are hiding something and it is becoming even more obvisious that the tax saving payment of OAS 65 to 57 is required to pay for conservatives programs such a corporate tax cuts... they need the tax money to cover their mistakes... otherwise why would Harper and Flaherty make the most stupid political suicide decision to hit the poor seniors in Canada, Unless they know they made a mistake announcing this OAS program and now they are just too stupid to admit they made mistake. Remember Remember conservatives never admit they are wrong. Either way they are cooked... Can someone explain to me what Peter Mackay was doing answering a pension question in the house.. I am surprized they did not bring back Baird from China for question period to day.

jjaycee
said

What is this guys problem? $108 billion by 2030 is the Finance department estimates. No says Mr Page the number is $142 Billion by 2036. That is a better scenario? We should not be concerned?Those figures actually prove that once a certain threshold is passed the money will start rolling out faster than ever.For the reporter who wrote this, must be a really busy day that you can not be sure of your numbers. About $500 per month somehow sounds better than the actual figure of $540.12 for each month from age 65 to about 88 adds up to $142,591.68. if Seniors become 40% of the population that is some $13,438,800 collecting.All I can say is my poor Grandchildren!

Harper is a liar
said

Oh ... so Harper lied? I wish i could say I was surprised or shocked but, I'd be lying.

jimmy
said

All smoke and mirrors. Pipeline what pipeline? Crime bill who-where??? OAS needs to be changed so the PMO can look like its getting some real work done.

Rick Warner
said

People don't change until it hits home on the monthly budget. Hit them where it hurts so they will understand. Reduce MP's pensions/salaries/ perks for every one the Canadian citizen gets hit with. That'll smarten them up. Every party is guilty of this, not just the current one. Quit the blame games.

Mike in NB
said

Why do we have to pay for a bunch of selfish old people who were too selfish, lazy and undisciplined to save for themselves? Oh yeah, they coudn't affort to, because the government stole their money (tax scams) to pay for other peoples retirement. Its all a legalized ponzi scheme, and anyone who believes any different deserves to have their 'benefits' cut in their old age! Don't rely on the government people, rely on yourselves to save for your retirement>

Prof. Pye Chartt
said

As someone in their 40's, I'm glad that we don't have to worry about the cost of OAS going from $36B to $142B over the next 25 years. I'm banking on that cash to live a luxurious retirement. I share Parliamentary Budget Officer Page's flaky confidence that Ottawa will magically account for the needed extra money. He has never been wrong about anything, except for several things. Even though the NDP and Liberals are doing their damnedest to scare every older Canadian they can, only to accuse the Conservatives of needlessly inciting fear, I see no worries. The fact that Harper & Company haven't even put forth a plan to amend OAS just makes the political discussion that much more exciting, and, obviously, demonstrates that they're trying to win a popularity contest with this issue. Their position couldn't possibly have anything to do with the economic and fiscal realities encompassing future government revenues, spending, and the OAS demographic burden. Nope. It all makes sense.

Wilson
said

If Parliament and the govt make a move to somehow reduce or alter OAS or the CPP without making any adjustments to their own pensions... well, I can think of no better example of contemp for Canadians on the part of ALL our elected officials. If this happens, Canadians of every political stripe had better rise up and use their democratic power to voice their displeasure with our demented brand of (mis)representative democracy.

peter in mb
said

Kevin Page has been wrong 9 out of 10 times in the past. And the only time he is right is when his math is the same of the finance ministers math. He was wrong about the G-20 costing 1.1 billion that the AG later said was less then 650 million. He has been wrong on everything he says. Either he is a moron who thinks 1 plus 1 is 3, or he is a liberal agent that is just trying to smear the government anytime he can. In either case he should be the first to get caned in the conservative governments plan to reduce useless and wasteful government spending by 10%.

No to OAS eligibility increase
said

Isn't government supposed to do what the people want them to do? If Canadians don't want OAS age of eligibility raised to 67 (two governments tried this already, one PC and one Liberal), then let it alone. I fail to comprehend how personal agendas come into play in a government that is supposed to serve the people. Frankly, politics is a complete waste of our tax paying money and I'll be the first to support any movement that would suggest reducing politicians pay, pension, benefits and budgets at any level. Government is bloated and until someone stands up against politicians (calling on all Canadians here), they will continue to steal from us so their wallets can get fatter. Our money, you do as we want, not what you want. I have politicians and politics as a whole. And they wonder why the younger people won't come out an vote. What for? It's all one big illusion of "voting a government by the people, for the people". Ultimately, it all comes down to a sense of entitlement. Politicians feel entitled to the tax payers money. No to OAS age requirement increase. The people stopped it before, we can do it again.

allan
said

This so-called watchdog is very seldom correct, and I dont know why we pay for this position.How does this position serve the taxpayers, as we seem to be paying only for his opinion, and we have many other experts that we should be able to get the same and better info from

James
said

I think the MP's pensions should be cut first. Where else can you work for ONLY 6 years and get a ridiculously good pension! It's sickening.

peter in mb
said

I recall when the Liberals were in power that they said that there would not likely be enough money in CPP when all the baby boomers retired. And when I turn 65 that is in 26 years from now their will be no CCP at all. And Paul Martin stealing billions from the CPP fund like he did with EI and Health care to balance the budget did not exactly help anything. Maybe that�s why the Liberals said that, because they knew that they were screwing the future generation and that they would not be in power to face the consequences of their actions so they could blame it on someone else like Harper to score political points and make a election promos like they did with the GST.

Bumcrack USA
said

Edward Whitehouse, who was commissioned by Harper's government to study the state of Canadian pensions, also came to the conclusion that the country's Pension schemes were sustainable (google "edward" AND "whitehouse" AND "research belies") --- This is pure right-wing "survival of the fittestÈ minimal state intervention ideology. As for Harper's claims, it's called fera mongering... A CON tradition. Nothing says CONs like lying over and over and over again!

Dave in Edm
said

Create a problem and then solve it to make yourself look good... Quoting Chretien is in poor taste, I think most of us can agree with that no?

Cynical
said

Interesting. Stats Canada's figures, from an actuarial analysis conducted by them, state that in about 30 years, there will only be two tax payers to support each person receiving OAS, where today four tax payers support each retiree. Yes, the government does indeed have the ability to support such a thing, but only by raising taxes to the point where contributions from those two taxpayers DO cover OAS for one. Half the number of people supporting means twice the level of taxation, either by Income Tax, GST or some other tax. Canadians are already among the highest taxed citizens on the planet. Right, put it to a referendum: how many people presently in elementary school want to pay almost twice as much in taxes as their parents do? Given the ever decreasing birth rate, by the time the present 8-year-olds reach retirement, there will only be a one-to-one ratio of tax payers to pensioners. Pity we can't get the opinion of people who won't be born for fifteen years or so. It is so easy to come up with glib answers that are politically correct but ignore facts. I read that Stats Can report: did the watchdog?

Wendy
said

So the conservatives got caught trying to steal from the poor and the elderly. Shame on you Mr Harper, stop the corporate welfare & Canada's national debt would start to disappear.

A Koster
said

Go Page! While not infallible, Page is one of a very rare few that I can trust to give us an honest assessment on anything that he decides to work on.

Lorne
said

Finally, somebody that knows what they are talking about.Mr. Page obviously is more knowledgeable than those two dimwits, Harper and Flaherty.Solution: Mr. Harper should call an election on the OAS issue immediately, so that it can be put to rest, instead of getting people upset over what the government, in reality, plans to do to the OAS.So far, it is apparent that both Harper and Flaherty are lying through their teeth. It is up to them to step forward and state unequivocally, what their real intentions are!!!!

Larry I ontario
said

It is clear now the the Harper government are liars. Everyone should write to thier Mp's and tell them you are disgraced by this plan to hurt seniors. If they stop their idiotic plan to bulid mega jails and spend billions on fighter jets we don't need there would be plenty of money to go around.

James
said

In before the inevitable deluge of Con shills attempting to somehow blame this on the Liberals.

Frank Buchan
said

And OAS is still not a pension issue, no matter how much the media wants it to become one. It's a social welfare program paid from general revenues. That's not a judgement of its value, just a statement of its model.

Doug ^^^ BC
said

It's possible that both sides of this absurd argument are correct. The programs and "free" social programs can probably be sustained for quite some time.But ONLY if we are prepared to spend our entire GDP on social programs for ourselves.Which is exactly the kind of GREED that we are growing all to accustomed to. What about our children and grandchildren? If we spend our entire GDP on "free" programs for ourselves,we will be building nothing for the next generations of Canadians.Does no one on the politcal left give a fat rats behind about them? Our ancestors build for us when they had no social programs at all.They build roads,schools, hospitals,a military,industries,transportaion and infrastrucure.etc,etc,etc,etc.Most of that built when there were almost no "free" programs. They paid for most of what they consumed with their own money. What about us? Building nothing because we want to spend our entire GDP on "free" social programs for ourselves. Shame on you who support this socialist agenda.Are you to stupid to see how our "free" takes away from our children? Or just to damm selfish to care? Perhaps we need a formula.X% of the GDP for social programs. X% for growth.X% for debt reduction.Etc,etc.These childish political spins are a waste of time.

tax expert
said

I am very pleased with this report that says public service pensions and retirement pensions for seniors can be increased significantly, at the same time taxes can be reduced. This is very good news for when I file my tax return and also when I retire.

D in Wpg
said

This confirms what we knew all along - it is about spending priorities. Harper would rather spend the money on something else rather than on OAS. Hopefully there will be a real debate about spending priorities rather than a decree from on high.

Canadian Bob
said

The Conservative Government has presented us with a whole different ball of wax, but when investigated by those who know what they’re talking about, it's a different story. Now, that’s no slash against the Conservatives (before you Harper Monarchists start banging away on your Fisher Price keyboards), since they've hired firms telling them how to save money, and a host of other issues requiring the intelligence of people the majority of Canadians just expect you all would have elected into office. I have studied many reputable sources that indicate that the mis-directional spin Harper puts on our OAS or CPP situation due to the baby boomer onslaught is nothing but shear nonsense. As we age and begin to claim our rightful dues, we also draw less elsewhere freeing up government funds, and it balances out a whole lot more than Harper would ever have you believe. Harper has done what any leader would do and that is to adjudicate the people’s response to OAS and pension reform. He now must face the anger, and the true facts that are emerging and admit he was wrong. Or, he can act and increase the qualifying age of OAS and mess with the CPP instead of increasing it. Now that’s he’s opened up Pandora’s box, perhaps he’ll enact a little MP pension reform because if anything needs another look at, it’s what these people get in comparison to those who truly work for Canada. I hope he chooses the route that puts him in the category of Prime Ministers who struggled term after term to obtain a majority, and was then only able to hang onto a weak majority position for 1 term, since he’s already three quarters of the way there, I see that as a more realistic goal.

JD
said

Guelphite said "Who believes this hack any more?" Just people who are good at math. Conservatives wouldn't understand because of their low IQs.

H
said

The Gov't s own Financial watchdog has now contradicted the P.M. and Finance Minister." OTTAWA � The demographic time bomb that will hit Canada once the baby boomers retire won't cause a fiscal crisis, the country's budget watchdog says.In fact, Parliamentary Budget Officer Kevin Page says the federal government has enough fiscal room to enrich benefits for seniors and cut taxes, or increase spending elsewhere, without breaking the bank"It should be interesting to see the spin they put on this revelation.

Debbie
said

I think this just proves that if a Conservative is talking then he's lying. The Conservatives cannot be trusted to tell the truth under any circumstance. Only a fool would vote for Harper in the future.

Scott in Langley
said

@ Billymon - Looks like you could use a little refresher course in "simple math". The increase is 200%, not 300%. Besides that, the report doesn't claim that the pension will be maintained at the current GDP percentage, but that it will be sustainable at the higher rate, even with enrichment. And the provinces don't pay the OAS, so offloading healthcare costs to them will indeed allow the federal government to apply those savings to the OAS. If you're going to lecture people, try to be accurate about your subject or you end up looking like an idiot.

thetruth
said

I wouldn't mind paying an extra few bucks a pay, if It meant we could all have/improve our pensions when we retire. Maybe instead of cutting employees and pensions they could a cut good chunk the millions of dollars they spend flying themselves and employees around the for for meetings where nothing happens but decisions to have further meetings.. Every 1 Million dollars saved/year saves about 12 or more jobs/year.

Ottawa Jack
said

Based on past performances,& predictions, Page has little credibility. However, those who like his message will certainly believe him & promote his message. Wasn't he appointed by the Liberals?.

Paul
said

....it's called a trial baloon. Amazing how quick people get bent out of shape.

Jarrett
said

I find it amusing when people come onto the comment board and throw around a few numbers trying to discredit Page. As well, is it possible to provide a political point of view without throwing around childish monikers for politicians as a pathetic attempt to discredit one political view from another? If you can't discredit something without facts, then maybe you should revisit your own stance.

Purrsun
said

Interesting....in most of the news I've been reading, or listening to, the economists say that changes do need to be implemented. One of the reasons; that there will be less worker/taxpayers to cover pension amounts of those drawing them....this makes you wonder who is correct. Don't want to end up like Greece.

MIkeW
said

No problem for increasing the age to 67 for OAS. Needs to be grandfathered to those 50 and older. The younger folks have time to adjust to this new parameter. MP's pensions need to be slashed drastically, it's time they join the real world. To Mr. Page, you can't be serious that there is no monetary isue here. Shall we continue to run a $ 600 billion debt and $ 15 billion defecit. Do you realize the interest payments on this saps money away from needed programs. I'm amazed by this report

sunshine70
said

I agree that the Harper Government's plan to raise the age for OAS elegibility to 67 is more about forcing people to keep working longer than it is about Canada's ability to pay. The people affected will be people who have always worked in low-paying jobs or for employers who don't have a pension plan. This includes a high proportion of women and by now it should be clear that the Harper Government's attitude toward women is from the 19th century. As for affordability, no one has mentioned the clawback, which is indexed and doesn't kick in until taxable income is well over $60K. Bringing the level at which it starts down to $50K would save money and would hardly send people to the food banks. No one has mentioned either that the next milestone boomers hit will be 71, at which those who have RRSP's will start paying a lot of deferred income tax into government coffers. We should be asking hard questions about what the Harper Government plans to do with our money if not to help lower income people have a decent quality of life in retirement.

Saskmike
said

@ steve. I think the Prof has to wait for PM Steve and his writters to OK his response.

Larry S
said

Nobody ever suggested "Cutting" OAS except the NDP/Liberals when they were speculating about what the Tories "might" do. All Harper said was it needed to be sustainable for the future. I find it hard to believe that the Baby Boomer generation will have NO impact on the amount of OAS collected. All of sudden people are claiming the baby boomer generation doesn't exist??

Shar
said

If the government said the sky was blue, this guy would say it was black. I don't trust him. I don't think he is impartial.

Hans
said

i was gratified to read this news released by the PBO, and its chief, Mr. Page. it will be interesting to see how the Harper Conservatives respond to this new revised fiscal information....hopefully they will give up on the idea of further impoverishing the seniors of this country.

as for Billymoon....and you are an economist, who knows what he is talking about? Mr. Page IS such a one...i would trust what he says any day over your conservative ideology.

Will
said

Seems we need a new Parlimentary Budget Officer as this one can't stop meddling in politics. His job is to report to parliament on budget matters relating to the operation of Parliament and THAT IS ALL. We have an Auditor General and staff for everything else. Time to send this idiot packing.

kg1
said

dont you just love the way the govt tries to hide the controvery about the overpaid/gold MP pensions, and surprise surprise, no mention of those ones taking a hit!

Dale
said

Funny I didn�t hear anything about the MP�s pensions being cut?

simone
said

It is a simple as Harper was trying to deflect the attention from MP's pensions and his own greed. Couldn't even do it on Canadian soil. That tells us volume as to his character.Can't imagine he'll make it another term can you? He has successfully irked the "Boomers" who according to their own stats are a huge part of the electorate and he has kinda annoyed them. HHmmmm!!! Idiot has shot himself in both feet.Baby boomers for the most part managed their money well. As products of parent's who lived during the Depression they are well aware of the value of a dollar.The fact the government is mismanaging funds is not due to baby boomers but their own incompetency. How can they even suggest this plan when their own pensions are ludicrous.

Taxpayer
said

It looks like Steve and the Cons got caught again. Right wing dogma and the truth are often at odds.I'm sure the Cons are convinced the problem is poor old people who do not carry a gun. I would not be relying too much on Flaherty for advice.If you recall, Jim Flaherty was telling everyone in Ontario there was no debt, and it was not until he left that we found out that we had had massive debt over the three previous years. But a true incompetent is what Steve needs; anyone else might make him look bad.Oh, and bashing the Rep of a person Steve put in, is probably not a good idea.

Bob in Chatham
said

It's really annoying to hear these politicians talking about cuts to OAS while they never consider reducing their own gold plated benefits package !

DON AITKEN - Kelowna BC
said

The Parliamentary Budget Officer ,Kevin Page that Steven Harper appointed, keeps confusing Harper & company with Actuarial Facts.These people have there own agenda that has nothing to do with Reality.As usual "Don't confuse Tories With Facts their Minds are Made Up ".

Billymon
said

Some simple math for Page. An increase from $36B to $108B represents a 300% increase in less than 20 years, at a time when the ratio of employed Canadians to retired Canadians will diminish. In order to maintain OSA at curret levels of GDP, Canadian GDP would have to grow in excess of an average of 5.6% annually (when was the last time this happened?) Finally - the argument that savings in transfer payments can be applied against increased OSA costs fails to recognize that health costs will continue to rise regardless of which level of government pays the bill. So Kevin, time to address the issue, rather than hide our heads in the sand and pretend the problem will go away.

Marisha
said

It's no wonder people are confused. The answer depends on who's giving their opinion. What and who are people to believe any more???? This doesn't just to for the topic of pensions but also the economy naionally and globally.

One thing I suggest thought if everyone is supposed to bite the bullet. Politicians shouldn't be able to collect their fatcat pensions until they're 167. Their pensions are one of the first things that should be reviewed!

Injured Vets pensions. OAS. NEXT
said

The fact that this government, who continuously claim they support our troops, have slashed injured Veterans pensions by 50% since 2005 should have been a wake up call. If the Canadian Public does not take care of citizens like injured vets, it was only a matter of time for the Government to attack regular senior's OAS pensions.

steve
said

more fear mongoring by the fanatical righties. that is what they are all about. put fear and doubt in the public minds, divide and conquer. a page right out of georgie poorgie bush's book. can these cons come up with any original lies by themselves. a truly pathetic group i might ad. oh and by the way mr Pye, it is your turn to put your spin on this one. kiddy up.

Jeremy
said

We the taxpayers of Canada still demand drastic changes to the outrageous pensions of our MPs enjoy after only 6 years of being paid by us. They should be getting dollar for dollar like the rest of us not $23.00 for every dollar they put in. Outrageous.

Guelphite
said

Is this the same guy who said that the deficit couldn't be reduced as fast as Flaherty told us.Then it could. Now says we can add to the pensions without any problems.Who believes this hack any more?

Jeremy
said

So, again. Where is the freakin urgency to cut OAS? Why now, and why punish the most vulnerable of our citizen's? Could someone in the Harper Gov't please explain to all of us why all these other experts, including the PBO are wrong, that they all got their math, or reasoning wrong? I feel so bad for the poorest of our Seniors, we all deserve a little dignity in our final years, no matter what our circumstances.

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It is about time - as a grandparent I have watched our kids (who were allowed to fail although I do remember some nagging on our part) learn, I have watched our children now micro-manage their children. A big part of it is the fact that there are predators out there and an extreme reluctance on the parents part to alllow freedom that might result in the children becoming victims.

Harvey

Parents must learn to stop meddling, author urges

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