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From: robinson@ubc-ean.CDN (Jim Robinson)
Newsgroups: can.politics,net.politics
Subject: Deficits and Canada
Message-ID: <722@ubc-ean.CDN>
Date: Mon, 23-Jul-84 23:10:41 EDT
Article-I.D.: ubc-ean.722
Posted: Mon Jul 23 23:10:41 1984
Date-Received: Tue, 24-Jul-84 00:30:36 EDT
Organization: UBC EAN, Vancouver, B.C., Canada
Lines: 53


 >  
 >  ****************
 >  That the federal deficits so much deplored by Gov. Cuomo were built
 >  while Tip O'Neil and his redistributionist House Democrats remained
 >  in control of the nation's purse strings. That deficits didn't
 >  become an issue with Democrats until Ronald Reagan and a rebellious
 >  public began to deny the government further tax increases.
 >  ****************
 >  
 >  Interesting views of the deficits, that.  According to a chart published
 >  a few months ago in TIME, every one of Reagan's budgets has had a deficit
 >  more than three times the previous record deficit, whereas every one of
 >  Carter's deficits was less than the preceding year's deficit (including
 >  the deficit bequeathed by his predecessor).
 >  
 >  It's really amazing how Reagan apologists keep trying to accuse the
 >  Democrats of causing the deficits, when the deficits were being reduced
 >  during the period the Dems had the White House and both Houses of Congress
 >  but leaped upward as soon as Reagan had control.
 >  
 >  Maybe you think Canadians have no business commenting on such matters
 >  of "internal" US politics -- but although we can't vote, your misgovernment
 >  hurts us probably more than it hurts you.
 >  
 >  "No taxation without representation!"   But how do we secede?
 >  -- 
 >  
 >  Martin Taylor
 >  {allegra,linus,ihnp4,uw-beaver,floyd,ubc-vision}!utzoo!dciem!mmt
 
 
For a Canadian to accuse the Reagan administration of "misgovernment" (with 
regards to the deficit) seems to me to be somewhat hypocritical. The Canadian 
deficit is about $30 billion  of a total budget of about $60 billion ( all
figures are + or - a few $billion and are in Canadian "dollars"). Also when you
take into account the fact that the population of Canada is only 25 million, 
I think it becomes obvious who has been doing the misgoverning.
 
Rather than blame RR are the Republicans for the poor state of affairs of the
Canadian economy ( and I do concede the fact that the US is mainly responsible
for the high interest rates experienced here), it is necessary to look no
further than to Ottawa to find the real culprits. Former Prime Minister Pierre
Trudeau not only had no understanding of economics, but also lacked the sense
to recognise this shortcoming of his, and take some constructive steps like 
delegating all economic responsibilities to the Finance Minister. (I seem to
remember reading somewhere that the average Finance Minister's tenure was 30
months during the Trudeau years - considering that Trudeau governed for almost
16 consecutive years I think this says something) 
 
P.S. Remember back in '72 when $1 CDN was worth $1.04 US, instead $0.75 today?

                                             
                                                   J.B. Robinson