Who knows why the 17.7 million Canadians who cast ballots in the last federal election voted the way they did? Many of them were tired of Stephen Harper, obviously. I’ve wondered if the outcome also shows that some voters knew their John Maynard Keynes better than Harper and former New Democratic leader Thomas Mulcair realized.
In 2015, the economy still was limping from the Great Recession and oil prices had collapsed. It was no time to prioritize a balanced budget and only the third-place party was offering to run deficits. Contrary to Conservative messaging, Justin Trudeau alone looked ready to fight a slowdown.
Context matters when it comes to talking about debt and deficits. And that’s why four years later, Trudeau is on shaky ground with those Keynesians who backed him four years ago.
Continue reading at the Financial Post ...