Conservative voters have amnesia!!!
- Thread starter JonB2004
- Start date
The point is, nobody is saying the debt did not increase under Mulroney, of course it did, for the most part caused by interest on the debt. I am sure most of you understand the concept of compound interest, especially TORO, but when you continue to pay interest on interest and the principal, you get massive increases in the amount owing. Look at a mortgage, and figure out where you would be if you did not make any payments at all on the debt for, oh say, 9 years (84 - 93). For another example, RRSP's are built for compound interest, that is why they increase so fast.
Mulroney had balanced program spending, but I guess technically you could say he ran a deficit because he did not pay any interest payments on the debt. However, as has been pointed out here on many occasions, by those that were there, the appetite for interest payments was nil, and would have put many people out of work had they done this. I think, if I also recall correctly, the World Bank got involved in Canada's finances at some point in time, but just exactly when I do not remember.
Say all you want, but when a party runs a country for 29 of 38 years, most of the problems by default were caused by that party.
Mulroney had balanced program spending, but I guess technically you could say he ran a deficit because he did not pay any interest payments on the debt. However, as has been pointed out here on many occasions, by those that were there, the appetite for interest payments was nil, and would have put many people out of work had they done this. I think, if I also recall correctly, the World Bank got involved in Canada's finances at some point in time, but just exactly when I do not remember.
Say all you want, but when a party runs a country for 29 of 38 years, most of the problems by default were caused by that party.
Re: RE: Conservative voters h
Would you feel better if we did? I mean, anything to make you feel better about yourself, cause when you read these posts a few years down the road, you are SO going to hate yourself..........ah why wait, start now. It's really okay. 8)
BitWhys said:
Would you feel better if we did? I mean, anything to make you feel better about yourself, cause when you read these posts a few years down the road, you are SO going to hate yourself..........ah why wait, start now. It's really okay. 8)
Re: RE: Conservative voters have amnesia!!!
But you're the one making the claim.
I went over to the web site and didn't find it.
Here's the site map
http://www.fin.gc.ca/access/sitemape.html
Do your best.
BitWhys said:
But you're the one making the claim.
I went over to the web site and didn't find it.
Here's the site map
http://www.fin.gc.ca/access/sitemape.html
Do your best.
Re: RE: Conservative voters have amnesia!!!
My ass don't talk, tell me, I would be interested.
BitWhys said:
My ass don't talk, tell me, I would be interested.
BitWhys said:
I said that he had balanced spending on programs, but did not make interest payments on the debt. In that regard, he ran deficits, which I have addressed earlier. The interest on the debt caused the debt to increase, as I understand it, not deficit program spending by Mulroney. I do, however, stand to be corrected, especially by TORO, whose opinion I totally respect.
RE: Conservative voters h
Mulroney did not balance the operational budget every fiscal year, only a few years.
The biggest criticism of Mulroney was that he wasn't Maggie Thatcher, who was willing to take on the vested interests that kept the UK down.
But Mulroney may not have been re-elected if he had done so since Canada didn't have the stomach at the time. Canada wasn't ready until the 1990s when debt rose to 100% of GDP.
Mulroney did not balance the operational budget every fiscal year, only a few years.
The biggest criticism of Mulroney was that he wasn't Maggie Thatcher, who was willing to take on the vested interests that kept the UK down.
But Mulroney may not have been re-elected if he had done so since Canada didn't have the stomach at the time. Canada wasn't ready until the 1990s when debt rose to 100% of GDP.
Re: RE: Conservative voters h
Fair enough, and I stand corrected. Having said that, though, it still must be noted that the Liberals introduced deficit financing and created the debt. Agreed?
Toro said:
Fair enough, and I stand corrected. Having said that, though, it still must be noted that the Liberals introduced deficit financing and created the debt. Agreed?
RE: Conservative voters h
Yes, the problems of the debt were created by the Liberals in the 1970s. However, having said that, the blame lies with the Canadian people since they did not demand fiscal responsibility until the 1990s.
Yes, the problems of the debt were created by the Liberals in the 1970s. However, having said that, the blame lies with the Canadian people since they did not demand fiscal responsibility until the 1990s.
BitWhys said:
Get over yourself already. Your'd still an ..........naw, I will get in trouble if I say it.