Tuesday, September 1, 2015

The deficit fetish

Letter to the Toronto Star, unpublished.

Re Trudeau touts red ink as road to prosperity, Aug. 28 (2015):

In reaction to Justin Trudeau's plan to revive the economy, Thomas Mulcair asked, "Why do you feel the need to be an even greater deficit hawk than the prime minister?"  Mr. Mulcair has forgotten his mentor, Tommy Douglas.

When asked how he would finance his war on social wrongs, such as poverty, Douglas referred to 1939. In the  Great Depression, Canada got into the Second World War. There were means to fight a war then and there are means to fight a war now, Douglas contended.

With deficit financing and borrowing from Canadians themselves through war bonds, Canada fought the war and emerged a world power To replace our decaying infrastructure, deficit financing is a proper decision.

As for Stephen Harper, he has left the stage on this issue, last seen wandering tearfully around an oil patch.

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