canada elect 2015

Out of context: Reply #41

  • Started
  • Last post
  • 121 Responses
  • ********
    -1

    @ETM Actually, most economists will tell you that "fiscal responsibility" includes going into debt during recessions, or when money is cheap to borrow. Regardless, I understand how most people think that a balanced budget makes sense. It is a simple way of thinking about the issue, and arguably a reasonable fiscal strategy for a province.

    HOWEVER, fiscal responsibility also means managing the economy properly when times are good. The previous Alberta Conservative government did a good job of cutting back in the Ralph Klein years. But starting in 2007, after Klein left, it was the provincial government's responsibility to work to make the economy strong for future generations. They did next to nothing to diversify the economy, even though any economist (who wasn't tied to oil) suggested it. No government should rely on one source of revenue unless they have no other option. Now that Alberta has squandered those good years, they are back in a position where they have no other option.

    I understand your argument, but it's not fair to say "we must cut back when times are tough" if you do not also demand that the economy is protected during good times, for future generations.

    Sadly, people tend to only hold their governments accountable when times are tough. When the money is flowing in, no one is paying attention. And there really hasn't been a history of smart people making smart decisions in Alberta politics.

    ********
    -1Permalink
    UpvoteDownvote
    Flag
    • Your points are valid. However, some cuts the Conservatives were to make were valid. Some should have been maintained.ETM
    • Fiscal responsibility is spending well, not just spending or cutting. I didn't say don't spend, but simply to better ensure every dollar counts.ETM
    • NDP are like the unpopular kid who suddenly got popular and with the sudden euphoria they don't know how to say no.ETM
    • Debt/deficits are not the end of the world. You'd think nothing of getting a mortgage or a car, knowing you have years or decades to pay for it.i_monk
    • Well the rules and requirements for us to pay something back, or lose it, are far more stringent than for the government, aren't they?ETM
    • Not when you have the credit rating Canada has.i_monk
    Show [[ numHiddenNotes ]] more notesAdd Note
    SaveCancel

View thread