Gen X at 40

Canada's Favorite Blog

Comments

Ben (The Tiger) -

What's the PM up to in Ottawa? Keeping Canada's status as an economic beast by stopping people running around like chickens with their heads cut off, crying for more government stimulus spending (deficit in US ca. 10% of GDP, deficit in UK ca. 13% of GDP). As the Fraser Institute's critique was quite correct, and he oughtn't even to have run his 3% of GDP temporary deficit (as was his original intention), though politics militated otherwise. (That's life.)

It's kind of a negative accomplishment -- harm prevented rather than good done, but it's an important one.

As for Britain -- this is awesome. Still am watching that BBC live stream online, as I work.

Alan -

Harper is the king of government stimulus spending. If Obama is wrong so is he. Can't suck and blow. Hardly the guardian of the finances that Chretien was.

Ben (The Tiger) -

Obama's wrong, and post-crisis Harper is wrong.

But there are degrees. Running a temporary deficit of 2.5% of GDP -- which is below average annual growth long-term -- is doable. Running a deficit of 10% of GDP simply isn't.

Still, I'll give you that he's no Chretien. Who was the last brilliant PM like that? St. Laurent?

Alan -

I recall I read a biography of St. Laurent years ago and dimly think I was impressed. I recall more specifically that he kept an apartment in what is now a downtown Ottawa Comfort Inn. Wikipedia suggests he was fiscally conservative and socially progressive so that would work for me.

Jay Currie -

Nothing like an election where everybody - including the BNP and George Galloway - loses. Perfect.

Poor Harper is going to be the least popular guy at the G-20. Nobody likes even a relative winner when their economies are going down the crapper. And I would not be surprised to see our Finance Minister pull a couple of rabbits out of his hat and announce that the deficit was 45billion rather than 55. Have your stimulus but eat it too.

Ben (The Tiger) -

Jay: you're right on the money --
http://www.cbc.ca/money/story/2010/04/30/federal-deficit.html

That and he's scuttling the international bank tax idea. No, Canada's not fixing to be popular right now... (Except among Republicans south of the border who know about this stuff. (Which is precious few.))

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