OTTAWA — The federal government has started the new fiscal year in a rare deficit position, announcing Friday it was $517 million in the red after two months as tax cuts and a slowing economy sliced into revenues.
For those who think the Tories won't take a hit for this (yeah you Grumpy one) during a Fall/Spring election campaign, Canadians expect their government to do more than simply ride the ups and downs of the business cycle. That's why the deficits Ernie Eves revealed in his last budgets cost the Ontario Conservatives so heavily. It was though there had been all this pain for zero pay-off.
And I would remind people that, after 9/11 the U.S. economy slid briefly into recession while the Canadian economy, due to some steady economic helmsmanship by Chretien and Co., did not.
In this country Conservatives have to earn the title of "fiscally responsible". It is not given them by default.