In the 1990 we were in a World recession that Canada extended by bad Government choices..
Will new bad choices be repeated and history not be a lesson that we should have learned from ?
When will we learn that helping the economy does not require us to go deep into debt at the point when we are finally pulling out of the recession...
Brian Mulroney - Wikipedia, the free encyclopediaThe worldwide recession of the early 1990s significantly damaged the government's financial situation. Mulroney's inability to improve the government's finances, as well as his use of tax increases to deal with it, were major factors in alienating the western conservative portion of his power base. At the same time, the Bank of Canada began to raise interest rates in order to meet a zero inflation target; the experiment was regarded as a failure that exacerbated the effect of the recession in Canada. Annual budget deficits ballooned to record levels, reaching $42 billion in his last year of office. These deficits grew the national debt dangerous close to the psychological benchmark of 100% of GDP, further weakening the Canadian dollar and damaging Canada's international credit rating.
Will new bad choices be repeated and history not be a lesson that we should have learned from ?
Deficit could grow in fight against recession: HarperPrime Minister Stephen Harper is suggesting the federal deficit, pegged at $85 billion over the next five years, could get bigger as the government battles the recession.
Harper told Quebec mayors in Gatineau on Thursday that negative balance sheets will grow "as large as they have to" while the economy struggles to recover.
The remarks followed forecasts from public- and private-sector analysts warning that the deficit will balloon, because the economy and tax revenues have plunged more than expected.
When will we learn that helping the economy does not require us to go deep into debt at the point when we are finally pulling out of the recession...