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You bold lower deficit levels - but the government before the Conservative Harper government had surpluses almost all the time and never (or almost never) ran deficits - so exactly what is your point?
The conservative minority govt also had a surplus before the recession. The benefit the Liberal governments had previously was an economically rich US, that wasn't involved in costly wars, and wasn't in the worst economic crisis since the great depression. The liberals had the Clinton years, they had the tech boom, they had the automotive boom, they had the housing bubble.
The conservatives got dealt a ****** hand and have handled it pretty well. Granted a lot of that is thanks to the Paul Martins economic oversight additions with Chretien (for which the liberals deserve all the credit.) However since the Conservative government we have seen an increase in minimum wage (it rose a dollar through the recession) decreased federal taxes, and we are only running a 2% deficit, the GDP was expected to grow by about 3% next year, which is a whole 1.7 billion more than we need, and the budget predictions state that if the economy can stay as it is then we will have a balanced budget.
The only issue is that economist fear we might have a slight downturn over the next several months, however this is perfectly acceptable in an accelerated economy, if you look at the economical trend we spike down in 2009, and spike back up by 2010. We are a super hot economy right now as far as the data shows, a cool down is perfectly normal, and economically wise for a few reasons.
1. Our biggest trading partner is not keeping pace, we can currently allow them several months+ to catch up riding a small small deficit. As the US picks up so will the Canadian employment and the nations money with it.
2. Our dollar is high, A lower canadian dollar makes for good business here. As shown in the late 90's to mid 2000's it was only after we started paring the US dollar that business began to slow down (why pay the same out of country, for what you get in country). It was also a glaring warning sign that the US economy was stalling. (it also shows that our economies are ridiculously intertwined and why until the US employment picks up, ours can't either and they are slowing our rocket ship down.)
Its like tying a bottle rocket to a stake in the ground, it can fly around a lot, but unless the stake flies with it, its not going to go very far.