Thread by @HeatherMoAndCo

1. I’ll say this again because it’s important. The Trudeau gov’t used deficit spending to steer 🇨🇦 through the worst global health & financial crisis in a century. It worked. The Harper/OToole #CPC couldn’t even manage a recession. #cdnecon #exln44 #NeverVoteConservative

2. 🇨🇦 was largely spared the worst of 2009 financial crisis due to previous Liberal gov’t banking regulations THAT #CPC LOBBIED AGAINST while in opposition. Had they succeeded, 🇨🇦 would’ve been hit much harder. Even so, Harper/OToole CPC couldn’t even manage the recession #Elxn44

3. The #CPC turned a $13B Liberal surplus into a $1.1B deficit BEFORE the recession. Then mismanagement the economy for nearly a decade after. Increasing poverty, starving 🇨🇦 of needed infrastructure investments & creating the worst trade deficits in Canadian history. #Elxn44

#CPC follows a mantra of discredited economic fiction. They fundamentally don’t care how economies & healthy societies function & thrive. Their objective is to rob the Commons in order to transfer public assets to the wealthy. Period. #cdnecon illiterate Poilievre is an exemplar.

Now, allow me to get into some weeds a bit. The macroeconomics national income accounting identity goes like this: Y = C + I + G + (X – M)
At any given point in time, output must equal aggregate demand, comprised of 4 major components….

#cdnecon #Elxn44 #cdnpoli

6…consumer spending, business investment, government spending (on consumption & investment) & net exports.

These are the 4 expenditure engines that drive economic growth. Gov’t accounts for 2 of these 4.

Slashing public investments can create a temporary illusion…#exln44

7. But it’s just that: an illusion. The harm will mount & people will suffer. Slashing gov’t investments in a livable society to give the illusion of “balancing the budget” is a fraud. That’s VERY different from a budget that flows based on what is needed for 🇨🇦. #cdnecon #Elxn44

Ugh *mismanaged

8. Previous thread on some of the facts. #Elxn44 #cdnpoli #CdnEcon

https://twitter.com/heathermoandco/status/1431282649809707011?s=21

https://twitter.com/HeatherMoAndCo/status/1431282649809707011

9. We can only speculate on what would’ve happened to Canadians under a #CPC government during this unprecedented global crisis: the pandemic would’ve raged because CPC political opportunism would’ve been the priority, not people (see Kenney #UCP), bankruptcies skyrocketing…

10. No CERB to prevent people from losing a roof over their heads. Poilievre expressly stated this.
The economic & social hit 🇨🇦 would’ve taken had #CPC been in power, would’ve been devastating.

Some of that devastation would’ve been irreversible. #NeverVoteConservative

11. I’m adding to this thread since the trolls started showing up.

A word about the fictitious Harper #CPC “balanced budget”.

It was a shell game with cooked books, achieved by robbing programs, pilfering the emergency fund & selling assets at a loss. #NeverVoteConservative

12. Further reading on the Harper “balanced budget” fiction: nationalobserver.com/2015/08/11/opi…

ipolitics.ca/2015/04/19/no-…

huffingtonpost.ca/archive/undefi…