Less than a week after naming his new cabinet vowing a renewed focus on the concerns of Canadians, the one name Prime Minister Justin Trudeau couldn’t keep out of his mouth on Monday was Pierre Poilievre. At a housing announcement Trudeau brought the Conservative leader up multiple times, from panning his policy proposals, to his leadership style.
Wanting the government to spend only as much as it earns seems like common sense to me.
Basic macroeconomics: The budget of a sovereign government with control over monetary policy is fundamentally not like a family budget.
it’s a noble “father knows best” bit of wisdom, but you’ll find ANY person, organization or even government unable to save during ‘up’ years - in this case because it’s criticized for not dumping spare money at some cause - needs to borrow money or run a deficit in the ‘down’ years or when investing in something with delayed benefits.
This is actually how banks make money, but it’s also a neat-o vehicle for investment. Go read about it!
This bit of falsely sage advice is a neat-o diversion from the fact that money has been used either to prevent economic collapse during a 100-year pandemic - I know: Milhouse is an expert in managing a country during a global lethal pandemic - or to restart programmes to allow people to work more and generate more tax revenue that were ditched by ‘small government / fuck the plebes’ administration before, and/or resume maintenance work skipped or killed by those same “looks good this year, fuck the next guy’s budget” administrators.
Technical debt also accrues; and any wealthy barber will tell you to shift expensive debts to cheaper debts; and so we repair bridges with loans because we value the things we’d lose more if we didn’t.
Stop with the “neither a borrower nor a lender be” bullshit that started as an adage to sloppy aristocrats. It’s not even a smart rule for a single normal person, let alone a family or a government. It’s short-sighted and shallow.