If only the unemployed weren't so reckless with our money.

In predicting a $50 billion deficit last week, Finance Minister Jim Flaherty was quick to centre-stage the role of the unemployed and his other favourite whipping boy -- the autoworkers -- in soaking up government funds and pushing us deeper into debt.

Flaherty seemed keen to deflect public wrath onto these ill-fated workers, clearly victims of the global economic meltdown triggered by Wall Street. Most of them have probably never even been to Wall Street, let alone flipped asset-backed securities inside hedge fund portfolios.

It is astonishing given all the commentary and news stories about the "sudden" $50 billion federal deficit there has not been a single story in the mainstream media that focuses on the principal explanation: the huge tax cuts made by the Liberals and Conservatives since 1995.

First it was former finance minister Paul Martin with his $100 billion income tax cut over five years starting in 2000. Then it was Jim Flaherty in 2007 with $60 billion over five years. Add to that the $12 billion lost each year by lowering the GST from seven per cent to five per cent and the $50 billion is no mystery. It was an inevitability whenever the next recession hit.