kenmore kenmore:
Hmmm not sure about that, but you have to admit.. Chrétien had us in surplus mode.. and he did that following high deficits run by mulroney
Yes, there were surpluses under Chretien, but keep in mind a few things:
- The entire global economy was relatively healthy throughout the majority of Chretien's time in office (unlike now, where
everyone has been hit by a pretty significant recession, one that's lasted a long time.)
- Chretien also benefited from interest rates that were much lower than Mulroney had to contend with.
- Much of Chretien's work in reducing the deficit involved cutting various types of funding to the provinces (even more than Mulroney did). So, in effect, he was 'passing the buck'
Mulroney was not our greatest PM, but I think there have been a lot of unfair comparisons in his handling of the debt when compared to Chretien.