While snows deepen on northern fields and our now-unnavigable rivers still course slowly toward the sea, the sea of red ink continues to rise in Ottawa. Our Finance Minister, though, has a jolly way of expounding on how much worse it could have been if Canada had not—with a grim determination and an eye to a prosperous future—faced the economic vicissitudes of recent years with the pragmatic and “flexible” response of borrowing billions of dollars.
The year was 2008. Prime Minister Harper and Finance Minister Jim Flaherty were running for re-election. During the campaign, Mr. Harper said at least 5 times that the Canadian government, under his leadership would not go into deficit. Here were some of his campaign promises:
• “We’ll never go back into deficit” (Oct. 14, 2008 Toronto Star commentary)