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Bunk · 08-25-2009, 08:25 AM

^ I don't think it's fiscal conservatism, but fiscal prudence. The government should be saving/paying debt during high economic times (lots of revenue, infrastructure is expensive), and spending when times are bad (revenues are lower, infrastructure is cheap).

By 2003 or 2004 the writing was already on the wall that we were heading into a massive growth period - this is the time they decided to start spending like drunken sailors. In the late 90s when oil was $11 a barrel they were so hung up on paying off that debt they forgot infrastructure.

If they had built hospitals and schools, LRT lines, roads in that time period and perhaps paid the debt off half as slowly they would have saved billions later that could have gone into savings. Sure paying off the debt is nice, but that strategy ended up costing more than it saved us.

08-25-2009, 08:25 AM	#9
Bunk Franchise Player Join Date: Jul 2006 Exp:	^ I don't think it's fiscal conservatism, but fiscal prudence. The government should be saving/paying debt during high economic times (lots of revenue, infrastructure is expensive), and spending when times are bad (revenues are lower, infrastructure is cheap). By 2003 or 2004 the writing was already on the wall that we were heading into a massive growth period - this is the time they decided to start spending like drunken sailors. In the late 90s when oil was $11 a barrel they were so hung up on paying off that debt they forgot infrastructure. If they had built hospitals and schools, LRT lines, roads in that time period and perhaps paid the debt off half as slowly they would have saved billions later that could have gone into savings. Sure paying off the debt is nice, but that strategy ended up costing more than it saved us. Last edited by Bunk; 08-25-2009 at 08:27 AM.