Goaswerfraiejen, on 06 April 2011 - 02:22 PM, said:
Blend, on 06 April 2011 - 02:05 PM, said:
Liberals are just douche-bags with some sense of entitlement I never quite understood.... and the Conservatives are a bunch of socially inept economists - it's thanks in large part to them that we as a country made it through the financial crisis fairlyc omfortably and stuff, so I trust them with my tax dollars more than I would anyone else.
If you're 27, then you're old enough to remember the Tory response to the financial crisis: "there is no crisis". If they engaged in stimulus spending (incredibly late in the game) and helped to bail out the automakers, it was only because the other three parties--and the public--demanded it and threatened an election otherwise. After a couple weeks of stonewalling, they caved in. Flaherty couldn't get his numbers right, and Harper wanted us to buy up as many stocks as possible. They were singularly out of touch--living in Ottawa, I'm surprised that you don't remember any of this. Every day brought a new round of frustration with the Tory economic policy (or, rather, lack thereof).
More importantly, however, the fact that the country weathered the recession fairly well has nothing to do with policies implemented during those two years of Tory power, and a whole hell of a lot to do with policies they didn't enact, and policies that were enacted by the Chrétien and Martin governments. While governments in power tend to take the blame/credit for economic woe or joy, the reality is that they almost never affect their economies immediately--rather, they inherit the problems/boons created by previous governments. When the Liberals came into power in 1993, we had a third-world debtload; 1/3 tax dollars serviced the debt. We hit the ground running in 2008 because we'd paid off our debt, and because our banks hadn't merged. Under the Liberals, our corporate and personal income taxes went down, the GST was brought in (massive federal revenue stream), provincial transfers were cut, the banks were not allowed to merge (despite a strong desire to do so on their part), and EI started racking up massive surpluses. These are the reason why we weathered the recession better than the US and Europe: we started from a much better position. If you think the Tories did anything significant to avert economic disaster, I challenge you to post what that is.
This is decidedly well put! I agree with everything here.

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