My sinking feeling about the interim Parliamentary Budget Officer continues to plummet, not only in response to last week’s committee appearance where he not only used a bunch of over-the-top adjectives to describe his read of the fiscal situation, but also telegraphed that he has taken all of the wrong lessons from his predecessor and that he intends to make himself a media darling, in defiance of what his role is actually supposed to be according to his legislated mandate:
“If the government wants to go 12 months without producing a budget, as a citizen I would feel a little bit uncomfortable. But as somebody who works in the Parliamentary Budget Office, I’d say, ‘That’s great for us. Because we will occupy all the space that they decide to give up.’”
He was back on TV this weekend, and saying a bunch of alarmist things about how we’re on a “precipice” and so on, which…is not what his office was saying just a few months ago. If anything, this is the kind of alarmism that we’re used to hearing from the “it’s 1995 and will always be 1995” crowd, where any budget deficits are treated as some kind of national catastrophe, and that we’re sitting on a “debt bomb,” but we’re not. People are actively forgetting the measures taken to save the economy during the height of COVID, pretending that it didn’t happen, and now they’re downplaying just what exactly the effect that Trump’s tariffs are having on the economy—or the fact that we have managed to avoid a recession so far (not that it has stopped Poilievre from insisting that our economy is “collapsing.”)
Meanwhile, we’re once again getting the litany of demands from business groups about the budget, and they’re entirely of the “cut taxes and deregulate” variety, because nobody has learned a single lesson about how trickle-down doesn’t work, and that the scars from the last round of government austerity have not healed. And from the looks of it, this PBO is not only trying to become a media darling, but he’s basically rooting his analysis/opinion in these very same frameworks, which I suspect is going to really start to skew just what his analysis is and what it’s saying, which is going to do a real disservice to the job that he’s supposed to be doing.
Ukraine Dispatch
There was another major attack on Kyiv early morning Sunday, with 595 drones and 48 missiles, which killed four people, including a child.