Canada's Debt, A Liberal Legacy

[Locutus]

September 7, 2015 The press and the Liberals would have you believe that the Conservatives are responsible for the Debt and the Country's largest deficit.

It all sounds believable until you look carefully at the last forty or so years and adjust for inflation. Here is a chart showing who was in power going back to 1957:

path to deficit enlightenment here kids:

Dave's Insight, an on-line opinion page

 

[Cannuck]

What a bunch of silliness. Why can't Conservatives just take responsibility for Harpers dismal fiscal record? You can't fix a problem if you can't even acknowledge that you have one.

 

[mentalfloss]

What a bunch of silliness. Why can't Conservatives just take responsibility for Harpers dismal fiscal record? You can't fix a problem if you can't even acknowledge that you have one.

Prickly Curmudgeons.

 

[darkbeaver]

Responsibility for the debt rests with the sitting Government. They were elected on outrageous promises to fix that condition knowing that condition is imposed from abroad and therefore largely unaddressable by domestic shuffling and foaming at the mouth.

COMER — Committee on Monetary and Economic Reform EST. 1986

COMER — Committee on Monetary and Economic Reform

 

[petros]

Did Harper spend too much on infrastructure?

 

[Locutus]

silly druggies and their wet-brain reading comprehension problems. :lol:

 

[captain morgan]

Responsibility for the debt rests with the sitting Government.
http://www.comer.org/

There would be formal legislation if this were truly the case

 

[#juan]

The favourite slogan of the conservatives is "It's the Liberal's fault". The Liberals handed Harper a generous surplus. The current dept is all Harper's.

 

[Locutus]

yes, the 2008-09 thing was harper's fault. yes.

yes of course. :lol:

 

[IdRatherBeSkiing]

yes, the 2008-09 thing was harper's fault. yes.

That's funny, people say it was all George W.'s fault. How can it be both? And if it is Harper, why was it not Obama?

 

[captain morgan]

The favourite slogan of the conservatives is "It's the Liberal's fault". The Liberals handed Harper a generous surplus. The current dept is all Harper's.

Are you under the impression that there was zero debt when Harper took over?

 

[Locutus]

 

[petros]

The favourite slogan of the conservatives is "It's the Liberal's fault". The Liberals handed Harper a generous surplus. The current dept is all Harper's.

you want to go back to 7% GST and EI fund raiding?

 

[#juan]

Are you under the impression that there was zero debt when Harper took over?

Of course not, but you have to notice that under the conservatives the debt does go up, and under the liberals the debt tends to go down.

 

[petros]

So did taxes. Up under Libs, down under Cons.

 

[captain morgan]

Of course not, but you have to notice that under the conservatives the debt does go up, and under the liberals the debt tends to go down.

The terms of the various debt facilities live far past the date when gvt changes party's.

The terms of that debt are what is important... Look into how much debt that PET accumulated in multi-decade bonds at 18%... That annual debt piled-up for years after he had left office

 

[#juan]

The terms of the various debt facilities live far past the date when gvt changes party's.

The terms of that debt are what is important... Look into how much debt that PET accumulated in multi-decade bonds at 18%... That annual debt piled-up for years after he had left office

If I was a conservative that is what I would say too.

 

[coldstream]

They should just monetarize it over a period of a few years. No sovereign nation should incur debt from private sources.. and should borrow from other National Banks only to facilitate trade on a equitable and reciprocal basis (self cancelling). Essentially governments should use the credit facility of its own currency to invest in infrastructure and development. And progressive taxation for all expenditures that relate to redistribution of wealth.

 

[captain morgan]

If I was a conservative that is what I would say too.

If you were an accountant, in finance or had knowledge in the area, you would also say it

 

[petros]

If I was a conservative that is what I would say too.

That is what happened. Don't like it?