I don’t agree with the rest of this Silver Donald Cameron column any more than I agree with the rest of his columns – his comments on the Nova Scotia provincial debt suggest that he doesn’t understand this “compound interest” thing – but I would like to see the Prime Minister answer this one:
Ah yes, Bob Rae, the Ogre of Ontario. As Rae took office in 1990, Ontario was already heading into recession and projecting a $700 million deficit. Rae tried to blunt the recession’s impact using even larger deficits. He failed. But if recession-fighting deficits were bad policy then, why are the federal Tories embracing them now?
Update: oh, sweet mother of God…
A former Ontario NDP finance minister lambasted for running a deficit to fight the recession in 1991 has given a thumbs-up to a Conservative federal deficit budget authored by a disciple of the “Common Sense Revolution.”
Floyd Laughren told ctvtoronto.ca on Wednesday that he thinks the budget of federal Finance Minister Jim Flaherty is “on the right track.