The Liberals master spin-doctor on economy-related issues, John McCallum, is at it again. Yesterday I gave an example of how the old fox was not being on the level with his Bay Street buddies when he gave his assurance that “…the stability of our financial system and of our economy will be uppermost in our mind,” but omitted to mention the NDP election promise of a massive—“$47 billion over five years”—job-killing corporate tax increases.
Today I saw McCallum on CTV NewsNet telling Canadians that we are the only major economy that has not implemented a significant stimulus package.
Excuse me old fellow, the United States has launched a “rescue” package for its crumbling financial institutions. Not a “stimulus” package. Canada’s financial infrastructure is not currently in crisis and the appropriate steps to ensure liquidity there have already been taken.
A U.S. “stimulus” package won’t come until after Barack Obama takes office on January 20. And their lawmakers have recently delayed action to rescue the Big Three automobile companies.
Germany, with the largest economy in Europe, appears reluctant to implement a spending splurge after years devoted to bringing—as Canada has—its public finances back into balance.
Moreover, many economists believe a lot of the figures being announced in world capitals involve a mixture of new money and recycling of existing commitments.
But, of course, McCallum knows all that—he’s an economist—so he is obviously being intentionally disingenuous.
Canadians should brace themselves for more of this kind of half-truth and hyperbole from the Grits, Paul Martin made them famous for it when he ran two federal elections using this shameful technique. You know, tell the big lie then repeat it over and over until enough people begin to believe it—with the help of a supporting cast of friendly MSM journalists, of course.