1984-85, Prime Minister Mulroney's first full year in power, the annual federal deficit stood at $3 7.1 billion. It looks like Harper is going to beat that.. Do they still think that cutting the GST and corporate taxes was a good idea? Ask the people who are unemployed.
Juan, in old days (in ancient days, in fact), conservatism used to be associated with fiscal responsibility. Their recipe for economic success was, spending cuts; balance the budget and tax cuts, if possible.
Along came the supply siders, with the Republican Messiah, Reagan. He changed the traditional conservative philosophy slightly. Spending cuts, tax cuts, balance the budget if possible.
Then came neo cons, they changed it even further. Tax cuts, period, hang the rest. That indeed is the conservative philosophy these days, has been for a long time now, both in USA and Canada. They only know how to cut taxes, they know precious little as to how to run the economy.
Indeed, tax cuts is the easy way out. It hands out goodies to the people, there is no price to pay that one can see. Sure there may be budget deficit, debt etc., but that is for the next generation to worry about. People really don’t worry about deficit and debt unless it impacts upon their prosperity.
During Mulroney days, people were not really worried about the deficit; they were worried about the economy, unemployment. Today, the deficit is sky high; the worst ever, we are storing up disaster for the next generation. But people seem quite happy, our economy isn’t doing too badly, certainly we are doing much better than Americans.
I doubt if most Canadians are even aware that we are running an astronomical deficit. Conservatives seem to be doing quite well in the polls. So it is quite possible that Canadians may decide to continue their march towards the cliff (and fall off the cliff) with conservatives yet again, as they did with Mulroney.
I think with tax cuts and huge, astronomical deficits, conservatives may have found the recipe of electoral success.