Here is the dilemma, how should the PM describe the economy a few weeks before an election during economic troubles? Its the loose-loose scenario that Liberals and NDP are just starting to capitalize on. Should he say the economy is doing well to boost investor confidence but risk sounding out of touch with voters? Or should he say there are economic troubles in Canada in order to relate to the majority of voters in battle ground provinces but risk that his words might actually result in a recession for Canada? Keeping in mind that recessions are never good for governing parties, thats the dilemma that Harper is in before the big debate. 

What the Prime Minister says has everyday economic consequences for the entire country, it can be described as a self fulfilling prophecy. If Harper says our economy is doing well, markets react: 

Canadian Dollar Gains After Harper Says Turmoil `Not Domestic’ - Bloomberg.com

Investors confidence increases after hearing the Canadian PM speak positively about the economy and this has a ripple effect on the entire world market spreading to how much our loonie is worth in the world. If Harper was to say that Canada is heading for a recession (the more likely scenario for most of the country with the exception of oil rich provinces), that statement alone could actually cause a recession because many short term investors would quickly sell off their Canadian portfolios. Normally, this is a no brainer for a Prime Minister not in the middle of an election campaign, just say the fundamentals of our economy are great and hope for the best. However, we are a few weeks from an election and voters might consider that statement out of touch, especially in Ontario and Quebec. Economists say Ontario is already in a recession and Quebec is not far behind. After all, the ballot question is always about which political party understands the concerns of the voter most. Looking out of touch and being mocked for it is never good for an aspiring Prime Minister, just check out this clip. Plus, your opponents are likely to jump on that and paint you as out of touch, resulting in these type ads:

So, what do you do? Well, so far Harper has been juggling that question using the most acrobatic maneuvers that any skillful politician has become accustomed to. However, with 3 opponents itching to paint Harper out of touch at the big debate, the situation will require a more determined stand on the issue and it will be interesting to see what the campaign decides.