Wednesday, May 27, 2009

The Intertoobz never forget.

So, how's the economy doing these days? Oh, dear:

Finance Minister Jim Flaherty offered an impromptu fiscal update Tuesday, announcing that this year's budget deficit will balloon to more than $50-billion – a new record for red ink in Canada as the costs of the economic downturn mount.

And yet, it was just last fall that the poster boy for Canadian wingnut welfare Stephen Taylor was all a-flutter over the praise:

The Economist endorses a Harper minority

Just published by the Economist,

And yet, in a sinking world, Canada is something of a cork. Its well-regulated banks are solid. Growth has slowed but not stopped. The big worry is the fear that an American recession will drag Canada down with it.

Mr Harper says, rightly enough, that his government has taken prudent measures to help Canada weather a storm it cannot duck: he has offered tax cuts and selective aid to help vulnerable manufacturing towns. But it is his seeming non-reaction to what is so far a non-crisis that looks likely to deny him the majority he was seeking, and could even let in the opposition. In what is the first credit-crunch election in a big Western country, Mr Harper’s ejection would set a dispiriting precedent that panic plays better politically than prudence.

Well, how about now, Stephen? Would it be all right to panic now? Do we have your permission?


Renee said...

My day just got simultaneously a little darker and a little brighter.

Ti-Guy said...

It used to be amusing to revisit how uncritical, credulous, bilious and always wrong these tits were (check out the vicious attacks against Margaret Atwood that Taylor's fan base of appalling mediocrities engaged in in that post) just for speaking about credit and debt). Now I can't think of any use for them but compost.