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.
American, Canadian, Toronto & International News Commentary: Spreading Freedom in the Face of Tyranny
January 28, 2009
Subscribe to:
Post Comments (Atom)
Affordable Website Design & SEO
|
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
-
When was the last time you read a poetry book? If you enjoy poetry by Canadian poets do check out Gail M. Murray 's book: Reflections &a...
-
CARS - Nobody ever steals a pink car. According to a Dutch study which compared the colour of cars being stolen, pink is the safest colour ...
-
CANADA - I am henceforth boycotting Yak Canada and encouraging other people to do the same. A telemarketer from Yak Canada called me on my...
-
By Charles Moffat - September 2010. ENTERTAINMENT - Vanilla Coke was first introduced in 2002 and despite widespread popularity and being ...
-
CANADA - The following is a list of 10 reasons why Torontonians are considered the rudest city in Canada. The sad part is Toronto may deser...
-
CANADA - Even advocates of scrapping the Long Gun Registry are rethinking your convictions now that the RCMP have released a report showing...
-
By Charles Moffat - October 2010. CANADA - If you are looking to buy a home in Toronto, or even Brampton or Mississauga then the prices of...
-
ENVIRONMENT - Air travel in Europe has practically ground to an halt as ash and chemicals from an erupting volcano in Iceland makes air tra...
-
FASHION - Imagine working in a spa as an aesthetician and having a mother phone to order a bikini wax... for her 10 year old daughter. No...
-
POLITICS - The price of oil continued to fall today, falling below $40 US for the first time in 4.5 years despite OPEC's cut yesterday ...
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.