Pull yerself's together peepull! Contrary to popular wisdom, we had sustainable finances all the way up to the 1980s, through the fattest years of the welfare state.
Linda McQuaig's Shooting the Hippo is all you have to read to understand that it was monetarist anti-inflation insanity that produced massive deficits in the early-1980s and early-1990s.
But guess what? Even then, we never reached a "debt-wall." As I wrote yesterday, the modest levels of economic growth of the Clinton years would have been effective at reducing that debt level WITHOUT the painful social service cuts of Paul Martin Jr. and Jean Chretien. That's why I think those two guys were assholes. They put us through the wringer, just because they were as keen to offer up tax-cuts to the wealthiest and convince Canadians that it's better to bankrupt yourself paying for private services than it is to achieve things collectively.
We weren't in any danger from the debt levels of the 1990s and harpo's smoke-and-mirrors budget (which will produce some real deficits) isn't going to drive us over a cliff.
Relax.
Subscribe to:
Post Comments (Atom)
Featured Posts
|
The Sarcasm Symbol
Ever had some confusion online or with your cellphone when someone fails to catch the sarcasm? Well now with the SarcMark you can ge... |
|
Behold, the Scorpion Hydrogen Supercar
CARS - To the right is the future of supercars... it is a hydrogen supercar called the Scorpion. The Scorpion from Ronn Motors in Texas is t... |
|
Documents show Stephen Harper misusing public funds
CANADA - According to 950+ pages of documents obtained by the Canadian Press under the Access to Information Act the Privy Coun... |
|
Pink's Rosie the Riveter
ENTERTAINMENT - What I like about this video is how it meshes different social movements like feminism, veganism, anti-capitalism... |
|
California's Dustbowl
ENVIRONMENT - The photo on the right is a farm in California that has been put up for sale. Its just one of thousands of farms that are n... |
|
Is Steampunk the New Goth???
GOTHIC - Watch out what you see on the subway late at night because while in 2001 you might have seen some pretty freakish goths, by 20... |
|
Do you have enough Ice Water in your diet?
HEALTH - A Calorie (large C) is a measurement of the amount of energy needed to raise the temperature of a litre of water (1 kg's worth) ... |
|
North Korean timeline towards Inevitable War
POLITICS - The following is timeline of events that have occurred on the Korean Peninsula. 1945 - Japan surrenders to the United States a... |
|
Judgment Day is Tomorrow, so sayeth Cult
RELIGION - According to a cult based in California, Judgement Day is tomorrow (May 21st 2011) and Jesus Christ will return to the Earth a... |
|
Sex in Space Forbidden
SEX/TECHNOLOGY - Sex in outer space is a big no-no according to NASA. Not for professional astronauts at least, but the growing numb... |
Popular Posts / Last 30 Days
-
Visit amazon.com/author/moffat to get free short stories and huge discounts on fantasy books by Charles Moffat. Sale ends on October 20th... -
CANADA - I am henceforth boycotting Yak Canada and encouraging other people to do the same. A telemarketer from Yak Canada called me on my... -
CANADA - The reputation of the Toronto Transit Commission's buses, street cars and subways' drivers is just going from bad to worse...
-
By Charles Moffat - September 2010. ENTERTAINMENT - Vanilla Coke was first introduced in 2002 and despite widespread popularity and being ... -
CANADA / SEX - An Ontario man charged with breaking Canada's nudity laws is challenging the legality of it based on the concept that it... -
CANADA - The Conservative minority government of Canada has committed itself to buying 65 new fighter planes at a cost of $140 million each...
-
CANADA - In the early 1990s immigration actually helped saved the Canadian economy from the recession . Why? Home sales. More population,... -
CANADA - An increasing number of Canadian soldiers may be using, dealing and becoming addicted to drugs, say reports from Canadian Forces of... -
HEALTH - Mexico is on high alert today as the World Health Organization (WHO) declared the fast moving swine flu outbreak a “public health ... -
ENTERTAINMENT / SEX - Looking for love but tired of the bar scene? Looking for someone fun and playful? Young and old singles are turning t...
No comments:
Post a Comment
Comments containing links will be marked as spam and not approved. We moderate every comment. If you want to advertise on this blog it is $30 per link.