Canadian Recession Government Created

[Francis2004]

In the 1990 we were in a World recession that Canada extended by bad Government choices..

The 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.

Brian Mulroney - Wikipedia, the free encyclopedia

Will new bad choices be repeated and history not be a lesson that we should have learned from ?

Prime 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.

Deficit could grow in fight against recession: Harper

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...

 

[Ron in Regina]

The irony is that big debt wasn't in the cards (according to the
Conservatives) before the last election....and I voted for the Party
that promised to squander away the least in vote purchasing promises.

Then the Coalition happened...then the suspension of Parliament, then
the Conservatives promised out a budget to squander $$$ like the other
three Parties where promising before & during the election. Yuk...

 

[Ron in Regina]

All I can say is, "Schnatzafragen Fratterratterpeggaloomer, You Son
of a mother fudge making biscuit eater!!!" Op's....sorry. Tourette's
flare-up....I tend to feel left out when everyone else gets all freaked
out and swears. Glad that's out'a my system.:lol::lol::lol:
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[Cliffy]

Who was Tourette anyway? He sure gets blamed for a lot of bad English.

 

[pegger]

Ron - no offense - but if you believed that there was not going to be a recession in October, you simply weren't paying attention. Then again, being in Saskatchewan, perhaps you were better shielded at what was happening at the time, but here in Southern Ontario, you could see the signs coming. (BTW - I don't mean that as an insult)

Personally, I didn't vote for Harper (I know, I know, big surprise) because I thought he was full of it when he said, no deficit, never. I will not vote for a politician that makes such claims (absolute claims that is), because it limits your reactions, and sets you up to be liar. I know people don't like Iggy's musings about raising taxes, but face it, it is an option (not my #1 choice, but it beats other options like having a structural deficit, or leaving it our kids and grandkids to pay down.)

Also, and for the record, I don't blame the projected $85 B deficit (which Harper NOW says may grow) on the "coalition." Harper could have demonstrated he had a pair, and tabled a responsible, small c - conservative budget, and allowed it to fall or not. Billions wasted on car company bailouts (that are now declaring bankruptcy anyways - billions on useless tax incentives (sorry, I don't know anyone who is renovating their home aside from the people that were already planning to do it anyways), etc...

 

[Ron in Regina]

For the record, I don't blame this on the coalition either. I blame this on
the PM for buckling under and not following through on his campaign
promises.

I'm doing reno's on my home, in stages, and this stimulus $$$ for reno's
means exactly zip to me with it's hooks and exceptions. The reno's I'm
going to do, I was already going to do anyway too.

 

[L Gilbert]

I don't particularly blame the PM, past PMs etc. Politicians in general, big business, banks, and speculators get my vote for blame. It's the Golden Rule, people: whoever has the gold makes the rules; so if there's an economic mess and the "remedies" for the economic mess fail, it's the fault of whoever controls the money.

 

[Liberalman]

A Liberal government is Canada's only hope

 

[L Gilbert]

roflmao Good joke, LM.

 

[Machjo]

A Liberal government is Canada's only hope

I take it you're one of the ones who'd vote in a complete idiot just because you like his boss?

 

[Toro]

Canada is in a recession because the US is in a recession. It has nothing to do with the Conservative government, or the prior Liberal government for that matter. It wouldn't matter who was in government.

 

[darkbeaver]

Canada is in a recession because the US is in a recession. It has nothing to do with the Conservative government, or the prior Liberal government for that matter. It wouldn't matter who was in government.

I beg to differ, if I was in Government I would immeadiately nationalize Canadas arms industry and pour the entire assets of the nation into them , except funds alocated for booze and drugs, then I would declare war on the USA ten minutes after launching a full frontal liberation assault along the entire length of border, and I would replace the sea kings. I would also Immeadiately increase the familty allowance tenfold to offset the enevitable collateral damage. A process of democratization would ensue. We would be greeted with jubilation and showered with flowers in parades all over that deeply troubled land.
This would stimulate everything and we could clean up ahead of the usual bankers. Why are you protecting Mulrooney?

 

[Francis2004]

Canada is in a recession because the US is in a recession. It has nothing to do with the Conservative government, or the prior Liberal government for that matter. It wouldn't matter who was in government.

I did not say we were in a recession because of the Government. The point is we could remain in a recession due to lack of judgement and not learning from our history from the past errors that could well be repeated..

 

[Francis2004]

The irony is that big debt wasn't in the cards (according to the
Conservatives) before the last election....and I voted for the Party
that promised to squander away the least in vote purchasing promises.

Then the Coalition happened...then the suspension of Parliament, then
the Conservatives promised out a budget to squander $$$ like the other
three Parties where promising before & during the election. Yuk...

For the record, I don't blame this on the coalition either. I blame this on
the PM for buckling under and not following through on his campaign
promises.

I'm doing reno's on my home, in stages, and this stimulus $$$ for reno's
means exactly zip to me with it's hooks and exceptions. The reno's I'm
going to do, I was already going to do anyway too.

Ron, two issues that are related so I put them together.. Hope you don't mind.

In my opinion we would not have this huge defecit if Harper had introduced a proper budget in Oct 2008. Instead he was forced to face a Coalition of parties and called all those in that coalition traitors..

If a small defecit budget had been introduced in Oct 2008 it would already have hit the economy by now and not as the budget in 2009 that will not take effect until June 2009 for the biggest part of the economic recovery..

But worse after telling Canadians that anyone who works with the Bloc Quebecois, they are traitors, it wa srecently reported that Harper has agreed to terms with Gille Duceppe of the ( Yes Traitor Bloc ) to support the Conservatives so he can hold onto power at all costs..

So while I support fiscally conservative budgeraty fiscally responsible governemnt, I cannot agree with these measures that will see us not only go deep into debt, but do far deeper into debt because of ego and miscalculation and refusal to see the economic signs. And to add to the issue I see the Government now doing exactly what it said was anti canadian 6 months ago..

 

[Toro]

I beg to differ, if I was in Government I would immeadiately nationalize Canadas arms industry and pour the entire assets of the nation into them , except funds alocated for booze and drugs, then I would declare war on the USA ten minutes after launching a full frontal liberation assault along the entire length of border, and I would replace the sea kings.

That's a great idea DB. We could seize the strategically important cities of Blaine, International Falls and Port Huron. That way, we wouldn't have to wait two hours to cross the border. We could just install our own border guards who say "OK, pass on through."

 

[darkbeaver]

I will have the general staff review your suggestions. I'm assuming there are bridges and suitable lodgeings for my extensive baggage train.