Canada Must End The Taboo Against Cutting Spending

DM

Advocates of centralized government control want to make it impossible to advocate against ever-increasing spending. And so far, they’re winning. Before this past year, it was reasonable to think that most political debate could take place within a reasonable fiscal range. After all, the arguments were between the idea of balancing the budget, or running deficits of about $20-$30 billion, far less than Canada saw during the 2008-2009 financial crisis and ensuing global recession. At that point, why would Conservatives take the heat for being accused of ‘cuts,’ when the difference was relatively small? Before this past year, the idea of a balanced budget – or at least some restraint in spending – was well entrenched. To get elected, parties felt at least some need to make a pretense of planning to get back to balance in a reasonable timetable. But not anymore. After a year in which we witnessed a massive decline in government revenue and a massive increase in spending to mitigate the impact of lockdowns, the Liberals are now seeking to lock in massive budget deficits for years and years to come.

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