For anyone looking for more information on "how we got here" (vis-a-vis the recession/depression), just have a look at Ralph Goodale's weekly email update. It outlines the Harper government's mismanagement of Canada - from a 12 BILLION DOLLAR SURPLUS to a 13 BILLION DOLLAR DEFICIT - BEFORE the bailout for the recession/depression even began.
Is that "call me Mr. Economist" enough for you?
Stephen Harper TOLD the Canadian people there is no deficit - ask the Parliamentary Budget Office and there's been a different story since early FALL of 08 - and it is our duty to ensure Canadians know that. Of course, one can say that Canadians deserve the government they elected, but we DO have hearts... Only sound Liberal fiscal management can save us from certain depression hell right now. Conservatives aren't going to fund nation-wide "make-work projects" of the likes not even seen during the Great Depression. Bailing out Big Banks, so they can "bank" the money and pay off their execs is NOT going to jump start the economy. We need to put money in the hands of consumers - and QUICKLY - not on "delay" like Harper has done with his "money to the rich scheme".
Here's Ralph's weekly update:
A LATE START ON FIGHTING THE RECESSION
While most countries were hard at work long ago on measures to combat the worldwide recession, the Harper government was wasting precious time.
It’s only this week that the Conservatives actually put new budget legislation before Parliament to begin re-charging the Canadian economy. This is a very late start.The livelihoods of thousands of families are at risk. In January, this country suffered its biggest job losses in recorded history. Since the election, a staggering 234,000 Canadian jobs have evaporated.
People are worried about their incomes, homes and mortgages, about their savings and pensions. Public confidence is low.
Even here in Saskatchewan where we’ve been insulated from the worst impacts so far, job losses have hit the potash, forestry and steel industries. Other sectors, like livestock, are also suffering.
Our Liberal Opposition warned Mr. Harper about the “gathering economic storm” a year ago. And then, private sector economists, the Bank of Canada, the International Monetary Fund, and the Parliamentary Budget Officer did the same.
Publicly, Stephen Harper brushed the warnings aside. Don’t worry, he said. The economic fundamentals are fine. There won’t be any recession, nor any deficit.
But privately, Mr. Harper knew better. That’s why he rushed into a snap election, breaking his own “fixed election date” law – to get it over before big economic trouble landed squarely on his shoulders.
Instead of a premature election campaign, the Conservatives should have been fighting the recession last October.
Instead of presenting a bitterly partisan mid-term “Economic Update” last November, they should have tabled a full-fledged emergency budget.
Instead of shutting down Parliament to run from tough votes, they should have been honest about the big Conservative deficit they had created – before the costs of any recession are added in.
Now, it’s a harder road back.