Who is your favourite prime minister and premier

[The Terrible Sweal]

... the constuition, which gives too much protection to the people ...

Damned people! Who do they think they are?

[Big Blue Machine]

The NEP took away the oil and gas royalities the West deserved. Plus, it was built on the assumption of increasing gas prices, when gas prices plummeted in the early 80s, the NEP failed to deliever.

[August1991]

Does someone have a URL that shows Canada's debt over time?

Go here and then to the bottom of the page.

[playfullfellow]

maplesyrup Posted on Aug 22 2004, 12:34 PM

I don't know if this one will help you MS, but I found it interesting

some debt info

As for my favorite PM and Premier. In the PM category, it would be easier to say whom I do not like than whom I like. I would have to go all the way back to the Defienbaker era or earlier to pick one I like. As for Premier, it would have to be Klein.

[August1991]

If you want to understand the federal debt, you have to understand that interest payments became the single largest budget item in the 1980s. Hence, when interest rates fell, the federal government's budget position improved considerably. Interest rates started falling around 1990.

See the graph here showing the Bank of Canada rate since 1980. (I would prefer to show the 10 year government bond rate but I can't find it on the Internet.)

I don't think Mulroney can be blamed for increasing the debt nor PM PM be credited with balancing the budget.

The most significant event has been the Bank of Canada becoming monetarist around 1980 and no longer following Keynesian policies.

BTW playfull, that link you provided above is one of the more hilarious I have seen. Thanks for the laugh.

[idealisttotheend]

August you hit the nail on the head, but we can still blame Mulroney.

It was Mulroney's policies that led to keeping the interest rates high in order to fight inflation. Crow's policies of high interest rates were known to Mulroney and approved of until late in his second term (if I recall correctly). The risht wing has traditionally liked high interest rates as it makes people's savings more valuable and eliminates inflation eating at their money. Furthermore Mulroney did nothing to curb spending or raise revenues even though he had a period of robust economic growth.

Tredeau has a share of blame for the debt. But his was an honest mistake, he thought that the oil prices would come down and that his government's deficit was transistional and not structural (ala Keynes). A mistake but one made around the world.

[ticker]

August you hit the nail on the head, but we can still blame Mulroney.

Tredeau has a share of blame for the debt.

You mean it was Clark's fault. He let Trudeau back in office to rack up the debt more then his usual spending; got his constitution so we can celebrate gay marriages, and hit Alberta the NEP to help pay for his spending habits.

And those that think the NEP was just a myth didn't see the layoffs; people loosing their businesses and homes. The real estate market fell apart people walked away from their investments... but little things like that don't matter in vote rich Ontario.

It is ok for 2000 Alberta engineers to be laid off but there would be outrage if 8000 engineers in Ontario lost their jobs because an act of parliament. It took years to recover; the east coast recovered first. Economist says Alberta would have gone through a mild recession if it weren’t for the NEP.

Because PET was stubborn and liked to spend money he was prepared to buy oil from the Arabs at 37/barrel while 16/barrel remained in the ground due to the socialist's NEP.

[Big Blue Machine]

Well, Ontario is the primarily the manufacturing base of Canada, no offence to anyone.

[ticker]

I would say Trudeau saved Canada; no doubt.  Without him, we wouldn't be worrying now about Quebec separating; it would have already been a done deal. 

instead you can deal with Alberta because of your love for trudeau and his policies.

[Big Blue Machine]

But there was a time where the West liked Trudeau. Like in 68.

[ticker]

But there was a time where the West liked Trudeau. Like in 68.

and before the next election Albertans had already changed their mind when we really knew what he stood for.

[Big Blue Machine]

True