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What previous governments did

MICHAEL VALPY

Globe and Mail Update

Latest comment posted at 1:15 PM EDT 27/01/09

As Canadians wait to see how the Tories deal with this economic crisis, reporter Michael Valpy looks back at previous governments and how they dealt with a depression, a recession and a deficit. ...Read the full article

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  1. Catherine Wilkie from Canada writes: Harper did not entertain the notion of deficits or recessions, merely weeks ago.

    Harper taunted the Opposition, when he should have been leading Canada through the tough economical times.

    Harper is a financial dud.
  2. One Voice from leftcoast, Canada writes: 'He also had an unattractive personality. He was erratic, insensitive, conceited, self-obsessed, a one-man band without the capacity to share successes and responsibilities with his ministers and as cold as an Arctic breeze'

    ...oh, never mind...
  3. One Voice from leftcoast, Canada writes: 'He also had an unattractive personality. He was erratic, insensitive, conceited, self-obsessed, a one-man band without the capacity to share successes and responsibilities with his ministers and as cold as an Arctic breeze'

    ...oh, never mind...
  4. One Voice from leftcoast, Canada writes: ...whoopsy daisy...
  5. peter clarke from Toromto, Canada writes: It is not about the person or his personality OVL but how to get the country back on track. I have said it before and I will say it again. Shovel ready or not, infrastructure spending is not production of capital, nor does it produce goods or services that will have any long term effect on the economy.

    Our Banks were not formed to lend money, but rather for the protection of money their depositors make. We have the real result from banks that have been aggressively lending depositors hard earned savings without sold regulations with a true banking reserve system in place. Regulations for banks should clearly stipulate that at any given time, their lending abilities should not exceed 50% of the total amount of dollars on deposit by their customers.

    What is urgently needed and has been for the past 75 years, is for governments to live within the amounts of revenues earned annually and not borrow or spend any more than the annual revenues they receive and collect through taxes.

    To do to this of course, the government would have to reduce its size, cut spending and unnecessary services and programs and at the same time reduce corporate taxes and ensure that all revenues from our natural resources are shared equally amongst all Canadians.
  6. peter clarke from Toromto, Canada writes: It is not about the person or his personality OVL but how to get the country back on track. I have said it before and I will say it again. Shovel ready or not, infrastructure spending is not production of capital, nor does it produce goods or services that will have any long term effect on the economy.

    Our Banks were not formed to lend money, but rather for the protection of money their depositors make. We have the real result from banks that have been aggressively lending depositors hard earned savings without sold regulations with a true banking reserve system in place. Regulations for banks should clearly stipulate that at any given time, their lending abilities should not exceed 50% of the total amount of dollars on deposit by their customers.

    What is urgently needed and has been for the past 75 years, is for governments to live within the amounts of revenues earned annually and not borrow or spend any more than the annual revenues they receive and collect through taxes.

    To do to this of course, the government would have to reduce its size, cut spending and unnecessary services and programs and at the same time reduce corporate taxes and ensure that all revenues from our natural resources are shared equally amongst all Canadians.
  7. Douglas MacDONALD from Canada writes: Spending money we dont have is living beyond our means it is time for all canadians to bite the bullet and get our fiscal house in order running deficits which only leave the accumulated debt higher is just plain dumb the govt should be like responsibile people and only spend what they take in in taxes.This conservative govt is totally incompetent when it comes to finances just like a lot of people I know who constantly gripe about not making ends meet but have to have the big holiday every year or own a home that is valued at ten times what they can reasonably afford the public should be giving thier colletive heads a shake because from where I stand they are only enabling this poor govt to do all the wrong things.
  8. Nick Beerman from Calgary, Canada writes: And once again decisions are made for political gain and not the good of the country.

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