A new kind of economic indicator

AnnaG

Hall of Fame Member
Jul 5, 2009
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No I'm not saying that. But to blame the guy for a 10.2% unemployment rate is a little unfair. It could be a lot worse.
I think "unfair" is an inappropriate term, I would use the term "stupid". I don't blame Obama for unemployment. It's like I said somewhere else, this economic crap has been building for a lot longer than the past year and politics is only a part of it.
I definitely agree that the situation could be a lot worse.
lol What JLM and Tonington said.
 

SirJosephPorter

Time Out
Nov 7, 2008
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The increase in unemployment is Obama's fault as much as the recession in Canada is Harper's fault, ie. not really.

I don’t blame Harper for the current economic downturn, that is worldwide. However, I do blame Harper for the deficit. Harper inherited big surpluses. When he came to office, he blew it all away to give tax cuts of doubtful effectiveness. The surplus was down to almost zero even before the downturn started. I remember Harper had gone into deficit for a three month period, only to go back into the surplus again.

If Harper had kept on with the healthy surplus he inherited and had not blown it all away on tax cuts, we would have had much lower deficits that we do today. Harper essentially did the same thing as Bush, only he did not go to the extreme that Bush did. Bush converted huge surplus into huge deficits to give tax cuts, Harper did not go into deficit, he merely blew away all the surplus.
 

Tonington

Hall of Fame Member
Oct 27, 2006
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You mean you blame him for the extent of the deficit. The deficit was inevitable, with tax revenues dropping like a frat boy's shorts in a co-ed hot tub.
 

SirJosephPorter

Time Out
Nov 7, 2008
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You mean you blame him for the extent of the deficit. The deficit was inevitable, with tax revenues dropping like a frat boy's shorts in a co-ed hot tub.

Sure deficit was inevitable. But if Harper had not blown away all the surplus in tax cuts, the deficits would have been a lot less today.

And you got that exactly right. I don't blame Harper for the deficit, but I do blame him for the extent of the deficit.