Quote:
Originally Posted by llwhiteoutll
You left out that the huge dip in 2009/2010 was pretty much the direct fault of the Liberals and NDP.
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As Heep said, this doesn't take into account the size of the economy.
The one big, indisputable fact that it does illustrate, is that the deficit blew up in the 70s and 80s.
And it did so for one simple reason: Pierre Elliot Trudeau believed that spending on infrastructure was a good thing, and leaving the bill for future generations, with inflation shrinking the actual impact, was the way to pay for it.
Then one day, with interest rates in the double digits, and 40% of government spending was going to interest to service the debt, people woke up to the fact that having a giant debt load was actually a bad thing.
As someone mentioned, Martin cut the deficit, to his credit, but he did it largely by transferring the problem to the provinces.
I fear that history has begun to repeat itself once again.