As the western world teeters on the brink of another major recession, Liberal leader Bob Rae has started dispatching economic advice to Prime Minister Stephen Harper. Keep spending and take it easy on the cuts. Thanks Bob. While it is true that Rae has previous experience dealing with financial turmoil (his entire term as Premier of Ontario was one big economic crisis), he sure as Hell ain't my go to guy for solving fiscal problems. The Tories have signalled that there will be spending cuts, and already you can see the Liberals and NDP lining up to attack every single one of them. It will give the opposition a rallying point to join forces against the government. They'll fight to defend global warming jobs at Environment Canada.
At this point it is still questionable whether or not we should have done the first stimulus, but Ignatieff demanded it as a condition of supporting the 2009 budget. Plus the Americans were doing a stimulus, so it seemed like the popular thing to do at the time. Canada's economic recovery in the last recession was among the fastest and most efficient in the western world, but that likely has more to do than with the strength and stability of our economic system rather than tax money pumped into the economy. We did not have a recession because our economy is broken, it happened to us because we are so closely tied to America and Europe who are broken.
When all is said and done, I'm going to willfully disregard economic advice from Bob Rae, and you should too.