CANADIAN DAILY DIGEST March 21, 2016

The DAILY DIGEST: INFORMATION and OPINION
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>>>>>>>>>>>>>>>NATIONAL NEWSWATCH<<<<<<<<
http://www.nationalnewswatch.com/

Oilsands growth in doubt and the feds are concerned

Federal budget expected to defer some Liberal campaign promises
        Budget 2016: PM vows �historic investments� for First Nations
�I impute no bad motives�: arbitrator slashes amount owing for 14 senators
        Bombardier defends outsourcing plan amid bailout request

Power Play: Strategy Session
        Conservative motion to save religious freedoms office fails to pass Commons
We will see in budget who Trudeau chooses to disappoint
        Senate should suspend squawking senators in expense scandal
Senate appointment process �remains a mystery,� says LeBreton
        Big spending, big deficit, big hopes in first Liberal budget
Three budget spending wishes
        What we should ignore in Budget 2016
Budget 2016: a new threshold for taxpayers pain
        Don�t bet against Thomas Mulcair

Mulcair�s the best fighter they�ve got
        Soaring rhetoric and bold policy in short supply as Conservatives reflect on election loss
Government can help people and still balance books, Ambrose says on budget eve

The biggest questions for Tories aren�t about a new leader
        Will the real Patrick Brown please stand up?

>>>>>>>>>>>>>>>LOONIE POLITICS<<<<<<<<<<<<<<
http://looniepolitics.com/

What you should look for in the federal budget - Kevin Page, Ottawa Citizen
        The lessons for Justin Trudeau in his father�s first budget - Jason Kirby, Macleans
Air Canada�s use of U.S. �no-fly� lists probed by human rights tribunal - The Canadian Press , CBC News
        Wall says his platform is affordable, but Saskatchewan NDP calls it uninspiring - The Canadian Press , CTV News
The Liberals are doubling down on a horrifically broken UN - Matt Gurney, National Post
        Bombardier still aims to outsource jobs as it seeks bailout from Ottawa - Nicolas Van Praet, The Globe & Mail
BC NDP says feel-good Liberal ads �costing taxpayers a fortune� - Michael Smyth, Vancouver Province
        Liberals promise �fundamentally different approach� in 2016 budget - Emily Chan, CTV News
Liberals investigating �vacation villages� to boost tourism - Ben Spurr, Toronto Star
        The deficit dive: How the Liberals� first budget will try to sell bigger shortfalls as key to economic growth - Andy Blatchford, The Canadian Press, National Post

The Liberals� �unsexy� bait and switch - Anthony Furey, Toronto Sun
        Ontario�s jobs fund subsidizes a company so rich it can�t keep all its cash - David Reevely, Ottawa Citizen
Blame politicians for Metro Vancouver�s housing price crisis - Douglas Todd, Vancouver Sun
        Liberals face decisions on navy�s $104B frigate replacement program - Murray Brewster, The Canadian Press, CTV News
Potential Tory leadership candidates should consider their fundraising track record before deciding to run - Kady O'Malley, National Post
        Canada�s ketchup war shows the advantages of unfree trade - Thomas Walkom, Toronto Star
Twitter to keep 140-character limit after considering 10,000 character change- Aleksandra Gjorgievska, Bloomberg News, Financial Post
        Natural gas industry could dwindle without LNG facilities- Kyle Bakx, CBC News
We should relish taking the fight beyond ketchup- Jennifer Wells, Toronto Star
        Airbnb opens Cuba listings to the world- Michael Weissenstein, The Associated Press, CTV News

TOUTES LES NOUVELLES PUBLIES DEPUIS 24 HEURES
http://fr.canoe.ca/infos/aujourdhui/

Le corps d'une femme retrouv� � LongueuilPlus
        12 ans de prison et encore beaucoup de questionsPlus
�lection partielle: Normandeau n'aura pas d'impactPlus
        Le s�nateur Boisvenu devra rembourser plus de 20 000 $Plus
L'hiver n'est pas fini: retour de la neige cette semainePlus
        Malaise viral entre Obama et CastroPlus
Trump d�voile son �quipe de politique �trang�rePlus
        Le caucus qu�b�cois du NPD se range derri�re MulcairPlus
Obama rencontre Castro au palais de la R�volutionPlus
        Pont Jacques-Cartier: fermeture compl�te pour trois nuitsPlus

Rencontre avec Le Pen: les jeunes p�quistes r�pliquentPlus
        N�gociations pour la Syrie: le r�gime sous pressionPlus
Attentats de Paris: nouvelle progression dans l'enqu�tePlus
        Des �l�phants tuent cinq personnes dans l'est de l'IndePlus
Pyongyang tire d'autres missiles de courte port�e dans la merPlus
        Un commer�ant se r�installe sur le PlateauPlus

FOREIGN AFFAIRS & GENERAL INFO

>>>>>>>>>>>>>>>LOONIE WORLD<<<<<<<<<<<<<<<<
http://looniepolitics.com/

Obama arrives in Cuba; hopes visit will usher in change - Kevin Liptak, CNN
        Obama plans to campaign hard, with legacy on his mind - Athena Jones, CNN
Cruz & Kasich Playing Right Into Trump�s Hands - Josh Kraushaar, National Journal
        Will Trump Be Dumped? - Maureen Dowd, New York Times
Hillary Clinton says U.S.-Mexico border is now secure - Stephen Dinan, Washington Times
        At March Pace, Trump�s on Track for 1300 Delegates - Nate Cohn, New York Times
Isis mortar kills at least 13 police at Egyptian checkpoint- Reuters, The Guardian
        Turkey blames ISIL for Istanbul attack- Al Jazeera
Istanbul suicide bomber identified as IS group member- France 24
        Voters in Benin, Cape Verde, Congo, Niger, Senegal and Zanzibar go to polls- BBC News
Report: 10 simultaneous terror attacks feared in London- The Times of India

>>>>>>>>>>>>>>>THE LEBANON DAILY STAR<<<<<<<<
http://www.dailystar.com

Castro denies Cuba has political prisoners
        Castro says end of US 'blockade,' Gitmo return needed to normalize ties
US invites Cuba to energy summit
        British PM drops welfare cut that sparked minister's resignation
Israel defense chief accuses leftist NGO of treason
        Syrian govt rules out talks on Assad future, focus is counterterrorism
Russia says records 6 cease-fire violations in Syria in past 24 hours
        Austria urges EU to send soldiers to Greece to police border
Carbon emissions highest in 66 million years, since dinosaur age
        UN: After hot 2015, new normal is hotter world temperatures

UK's Cameron seeks to quell party feud over welfare, EU
        Syrian Kurds defend federal plan, deny autonomy aim
Millionaires urge New York governor: Please raise our taxes
        Vladimir Putin's public trust rating drops 10 pct in a year - poll
Iran-backed militia demands withdrawal of US force in Iraq
        Arab League rejects Syrian Kurds' federal region
UN expert slams Israel's 'lack of accountability'
        Vessel to carry plutonium to US arrives at Japanese port: media
Russia says to act on its own against Syria truce violations if no US response
        Biden says 'watching Iran like a hawk' on nuclear deal

Government, rebels agree to cease-fire in Yemen
        The new class warfare in America

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From: Larry Kazdan
Subject:Re:   Editorial: Trudeau�s budget won't balance itself, March 18, 2016

http://www.ottawasun.com/2016/03/18/trudeaus-budget-wont-balance-itself

Your editorial assumes that balancing the federal budget is an obvious good as if this were the gold standard of fiscal management. Under the actual gold standard, fiscal restraints were forced on countries because their governments could run out of bullion. But gold convertibility of money has long been abandoned. Nowadays nations like Canada with sovereign fiat currencies have the fiscal flexibility to spend whenever their economies cool, and must do so to prevent recession and to achieve full employment.

Our federal budget never has to balance. History shows that it seldom does, nor should that be of any concern since what matters is the actual state of the economy. As John Maynard Keynes declared during the Great Depression, "Look after the unemployment, and the Budget will look after itself."

Footnotes:

1. John Maynard Keynes

http://rortybomb.wordpress.com/2012/03/06/vsp-historical-trip-also-keynes-look-after-unemployment-and-the-budget-will-look-after-itself/

From a 1933 radio debate

You will never balance the Budget through measures which reduce the national income.  The Chancellor would simply be chasing his own tail � or cloven hoof!  The only chance of balancing the Budget in the long run is to bring things back to normal, and so avoid the enormous Budget charges arising out of unemployment�Even if you take the Budget as your test, the criterion of whether the economy would be useful or not is the state of employment�I do not believe that measures which truly enrich the country will injure the public credit�It is the burden of unemployment and the decline in the national income which are upsetting the Budget. Look after the unemployment, and the Budget will look after itself.

2. William Mitchell is Professor in Economics and Director of the Centre of Full Employment and Equity (CofFEE), University of Newcastle, NSW, Australia

http://bilbo.economicoutlook.net/blog/?p=33124

"In a fiat monetary system where the national government issues its own currency and floats it on international markets:

A sovereign government is not revenue-constrained which means that fiscal space cannot be defined in financial terms.

The capacity of the sovereign government to mobilise resources depends only on the real resources available to the nation.

A currency-issuing government can always meet the liabilities it issues in its own currency.

Nations that have ceded their sovereignty by entering currency zones (such as the Eurozone); by dollarising their currencies; by running currency boards; and similar arrangements clearly are not sovereign and face the same constraints that a country suffered during the gold standard era.

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