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Thursday, 28 July 2011
Canada's Successful Deficit Reduction Program In The 1990s


The picture above is that of Paul Martin former Finance Minister and Prime Minister of Canada. He was the brains behind The Liberal Government's program to reduce Canada's deficit during the 1990s.

The previous Progressive Conservative Government lead by Brian Mulroney increased Canada's deficit substantially. Mulroney concentrated on failed constitutional agreements like the Meech Lake Accord rather than the deficit, and like a rat leaving a sinking ship, he resigned as Prime Minister four months before the federal election in 1993. His party which had huge majorities in 1984 and 1988 was reduced to two seats. The citizens of Canada spoke loud and clear on what they thought of Mulroney's Government. 

Now, the United States is trying to find its own way out of its debt/deficit trap. Here are some of my tweets on this problem:

"The issue which which will dominate both the upcoming congressional election and the presidential election will be the deficit issue".

"The Republican Long Term Debt Reduction Plan" needs both houses and the presidency: Same for "The Democrats Long Term Debt Reduction Plan".

"The usual suspects of right wing nutters are holding the U.S. Government hostage. The Tea Party has become "The Jim Jones' Cool-Aid Party".

My advice to U.S. citizens: Don't tolerate fools or ideological sociopaths to run the country finances. There's less of a party system in the your country than Canada. Fight for those who should be elected or reelected and against those who shouldn't be.


Posted by qualteam at 1:11 PM EDT
Updated: Thursday, 28 July 2011 1:40 PM EDT

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