I agree: running deficits during a high-growth period means they are structural, which anyone who live through the 1990s will tell you end with a lot of pain. The campaign plan: $10B short term deficits, primarily spent on infrastructure to drive productivity and growth, was a good one. Too bad they quickly walked away from that promise (and gave up on electoral reform). OTOH, Harper's boutique tax credits for all and the reduction in the GST -- which most economists thought was dumb and reduced room to reduce other taxes -- didn't exactly win me over either. We need a more grown-up body politic to enable smarter policy.