April 26, 2008

From the “Get Your Head Out of Your Behind” Economic Lesson Department

By Author-ED

Full Story Here.


Progressive Conservative MPP Tim Hudak (Niagara West-Glanbrook) expressed concern the province is “facing a Dalton McGuinty recession” this year and urged him to cut taxes to help businesses and families.

I really shouldn’t get irritated when I read these kind of things coming from Conservatives. I mean, there’s nothing new, right? This is yet another piece of evidence that proves they know nothing about economics. I should be laughing because it paints Ontario Conservative mentality in a very negative light.

The only challenge is that this kind of comment makes front page news, while economic stability is largely ignored.

Here’s a little reminder for Mr. Hudak: the Province of Ontario does not exist in an economic vacuum. About 65-75% of our economic health is tied to the economic fortunes /fate of the US economy, something that is, in large part, completely beyond the control of any provincial administration.

And let me remind everyone (including you, Mr. Hudak) that because CONSERVATIVES in the US have destroyed beyond salvation the economy of their country by doing exactly what Mr. Hudak recommends (cut taxes), it’s likely that any other jurisdiction that is dependant on the US will be affected by this fiscal irresponsibility.

That includes Ontario. In fact, Ontario is tied to a big anchor called US Corporate Welfare. $200 billion spent to bail out financial ‘geniuses’ on Wall Street. Nearly $1.2 trillion spent on a war that should not have existed in the first place. I could go on.