Nov 18 2008
I’m Sorry, Your Card Has Been Declined…
Once again it looks as though we are going into deficit spending. With countries all over the world making this a regular habit, especially in the current economic environment, many people may not view this as a big deal.
The problem I see is that the Conservatives have been beating us over the head with how fiscally responsible they are and how this situation would never happen hear in Canada. I’m aware that many factors affecting the global economy are beyond our government’s control, but it is still worrisome to me.
One of the reasons our economy has been doing so well has been the sensible approach to income versus spending. The average person cannot spend more than they make and expect this to last in the longterm.
Even if we have a deficit, it is vital for the government to treat this as a one time or short term blip and not the norm. They are entrusted with major decisions and making wise decisions - literally with our money, not theirs. Let’s pay attention and make sure they are held accountable for how they spend it.
Don’t feel bad…we’ve been in deficit spending since 2003, and were in deficit from ‘77 to ‘96. In fact, our current President has taken the surplus he was handed in 2001 and turned it into the largest deficit in our country’s history.
Not that I want Canada to go down the same road as us, not by any means, I’m just saying you’ve got a long way to go before you have to go further into debt to bail out the people that got you there.
Cheers