Moody's decision to downgrade Ontario's credit rating last week was manna from heaven to commentators and media pundits bristling at the notion that activist government could be making a comeback.
For years, pundits have kept governments in a straightjacket when it comes to spending, intimidating the public into believing that the deficit gods are vengeful and unforgiving, and that Greece is only a short hop, skip and a jump away.
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Further to my post yesterday about how the Ontario PCs have vastly overstated their own consultants' estimates of the number of jobs produced by their various policy proposals (including lower corporate taxes, lower electricity prices, interprovincial free trade, and regulatory reduction), some have asked me about precisely how the Conference Board report simulated the corporate tax reduction I was discussing.
When Ontario PC leader Tim Hudak kicked off the current election campaign with a plan to "create a million new jobs" in Ontario, he tried to dress up the platform launch with a certain scientific respectability. The party released a "technical backgrounder" showing the precise composition of the million new jobs, along with two commissioned consultants' reports that were said to justify the estimates contained in the plan.