Watching this current federal election I have become increasingly confused. The NDP has become the fiscally conservative middle ground party and the liberals are now the socialist party of the left. But it seems that the “progressive” electorate is tone deaf to this fact and is now throwing its support behind the “hair apparent” Justin.
I was amazed after the CPAC leaders debate, when the talking heads on CTV came to the unanimous conclusion that Justin had a “very strong performance”. I thought, as per usual, he was long on the dramatic sound bites and very short on substance. He is however, becoming a chip off the old man’s block. PET was the first Canadian prime minister to experiment with voodoo Keynesian economic policy. Even when the economy did not need stimulating, Pierre created structural deficits that arose out of permanent spending commitments unrelated to the need for economic stimulus. He never saw a borrowed dollar he didn’t want to spend. In all his time as prime minister of Canada, Justin’s father did not balance one budget, on the premise that commodity prices would stay high for ever. Oh yeah I can hear all you Liberals screaming “Neither has Harper”. Well actually he has, the first two years he was PM and now this year, plus the Cons deficits were used to help us get through the worst economic crisis since the great depression. One fact that most socialists conveniently seem to forget is Dion, Layton and Duceppe threatened to bring down Harper’s minority government unless it borrowed billions of dollars, it took 7 long years to climb off of that deficit merry-go-round.
One thing that you have to say about Justin is at least he is being honest, unlike Smiling Tom, he has said in no uncertain terms he is going to run $10B deficits for the next three years. This type of talk should scare the hell out of anyone from Ontario, we have been subjected to this type of economic incompetence for close to 13 years and have become the most indebted per-capita non sovereign jurisdiction in the world. Even at the current historically low interest rates the third highest expenditure in Ontario’s budget is interest on our debt. If and when interest rates do eventually go up to the historical norm, that line item will very quickly become Ontario’s biggest budget expense. At that point forget about health care, education and social programs, we will be on the same treadmill that Greece is on right now. Similar to Greece, Ontario’s deficits are now structural, so at some point someone with a better grasp of economics than “Windbag” will have to come in and clean up her mess and austerity will be the order of the day.
But I digress…… Justin seems intent on taking us federally down that same economic road to ruin. Anyone paying attention must have seen a minor item in the news cycle this past week, that all this talk about recession was just wishful thinking by Justin, Smiling Tom and a media intent on kicking Harper to the curb. Canada is now back on the path to economic growth, so Justin’s reasoning for stimulating the economy via deficits, just flew right out the window. Also reading his parties economic platform last weekend, which strangely enough was released on a Saturday with very little fanfare by Justin’s minions and not Justin himself. There is very little in that document that actually stimulates Canada’s economy, no road or bridge building, no water treatment plants for the beleaguered aboriginal communities up north, just more socialist engineering.
I have stated quite clearly in this space that I don’t particularly like Harper. But he has balanced the budget through very hard economic times even with Canada’s main source of income, oil at historic low prices. Unemployment is around 6 or 7 per cent, the economy is picking up because of our lower dollar. Why would we want to change things?