Just as a matter of curiosity I went back a few years and took a look at the annual contributions to the national debt. Then I overlaid the party in power at the time.
83/84 was the last of the Trudeau/Turner years, followed by Mulroney/Campbell. During Mulroney’s reign annual debt contributions grew by nearly 100%.
In late ‘93 Chretien came into power and with Paul Martin began to turn things around. By 2005-06 annual debt had been reduced by close to 50% – almost to pre-Mulroney levels – and a $13 billion surplus was on the books, which would have reduced it even further.
Now we have the Harper Conservatives in charge, and guess what’s happened. The $13 billion surplus has been spent and the annual debt contribution is now in excess of $50 billion a year, far surpassing even Brian Mulroney’s profligacy.
And they have the gall to represent themselves as being the best custodians of Canada’s financial health? One can only laugh at the self-delusion.