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Excellent point as usual. One thing that concerns me a bit more is what the trend with Provincial debts will be. Any insight there?

On the other hand, our debt is still far higher than it was in the '70s by any measure. I wouldn't say we're out of the 'danger zone' where we need to be fiscally cautious. I'd like to see us return to a declining debt:GDP path so we have some more fiscal room to maneuver in the late 2010s and 2020s until the boomers start dying.

Is there not even one journalist out there, that is capable of accurately reporting information, and with the proper context any more? PM Harper has little use for the media - is it any wonder? Most Canadians have little trust in the media anymore either. I think it was Trudeau, who also had little use for the media, who said it best - something like: "what they lack in competence, they more than make up for in vengence..."

Nick, maybe you should start offering some sort of workshop for the journalism students at Carleton - top 10 mistakes journalists make when writing about economics. This would be a good case study.

The National Post still has a pulse?

If I was writing an op-ed column and wanted to blow up people's skirts for fun, I would point out that Harper was a member of the original western-based Reform Party that made fiscal conservatism a corner-stone policy in the 1980s.

I would also point out that the Progressive Conservatives started down the road of fiscal contrition but that Reform Party plank was essentially co-opted by the Chretien/Martin Liberals.

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