Re: RE: Nova Scotia may turn
Factor out the direct contribution Rae's defict spending had on the provincial GDP and Ontario would have been treated to 4 straight years of negative growth, not just the one he walked into and the one he dealt with during his first year in office. That alone would have had businessmen running for the hills, not just the manufacturers who were abandoning the branch plants courtesy of the FTA. Ontario's economy was already pooched when he got strapped with the job and already running a deficit of over $3B.
Exclude the deficit he inherited, factor for inflation and in straight numbers alone Ontario came out over $14B ahead of the game forget about the people he kept employed and the Bay Street suicides he prevented.
ok
maybe that last part isn't exactly a plus but I'd rather leave consideration of that sort of morals out of the debate if you don't mind.
DurkaDurka said:Here is a little tidbit about Bob Rae from wiki. He not the saviour you would like to make hiom out to be. http://en.wikipedia.org/wiki/Bob_Rae
In addition, the Rae government initially underestimated the extent of the North American recession. Their first budget projected a deficit of almost ten billion dollars, and enacted a series of spending programs to mitigate the worst effects of an economic lag. Some have described this budget as following a Keynesian orthodoxy, spending money in the public sector to stimulate employment and productivity. Unfortunately, the monies provided for in the budget were insufficient against the recession, and did not create enough productivity. Thomas Walkom described the budget as "the worst of both worlds" -- angering the business community, but not doing enough to provide for public relief. For some, the budget reinforced a popular stereotype of the NDP as irresponsible spenders.
Factor out the direct contribution Rae's defict spending had on the provincial GDP and Ontario would have been treated to 4 straight years of negative growth, not just the one he walked into and the one he dealt with during his first year in office. That alone would have had businessmen running for the hills, not just the manufacturers who were abandoning the branch plants courtesy of the FTA. Ontario's economy was already pooched when he got strapped with the job and already running a deficit of over $3B.
Exclude the deficit he inherited, factor for inflation and in straight numbers alone Ontario came out over $14B ahead of the game forget about the people he kept employed and the Bay Street suicides he prevented.
ok
maybe that last part isn't exactly a plus but I'd rather leave consideration of that sort of morals out of the debate if you don't mind.