While it would always be preferable to balance the budget, there is little reason to worry about running a deficit equaling roughly one per cent of GDP.
Canada is trapped in a penalty box that has been slammed shut by Prime Minister Justin Trudeau. Our economy is stalled, going nowhere fast. It barely ekes out a one per cent growth rate. Talk about a slump. How can we break out of this?
We've seen this story before in the mid-1990s, when out-of-control deficits and an impending sovereign debt crisis led to painful spending cuts and tax increases. The government is wrong to make the return to budget balance conditional on strong economic growth. Population aging is already taking its toll on long-term projections, and too many unforeseen events can derail the fiscal path. Only tight fiscal discipline can balance the budget within a reasonable timeframe, protecting Canadians' standards of living from future large tax increases and cuts to government services.
A former head of Statistics Canada has waded into the federal election campaign, arguing in a newspaper column that the Harper
Let's take a look at the Harper Conservatives. Basically their ads and messages are there to create an illusion of good economy, sound fiscal management and the country under the threat of terrorism. In short, the Conservatives are faking their governing record.
It's a wonder that the heads of state and heads of government of the G20 who just met in Russia spent any time at all talking economics. Seriously, how could they pull themselves away from discussing Syria (or Sochi, or Snowden) long enough to actually focus on the international financial system? Sure, that's the explicit purpose of the G20 meetings, but still, let's give credit where credit is due.
The Canadian Taxpayers Federation says the federal debt will pass a milestone Saturday, and used that to call for the Harper
As debt crises and an aging population put pressure on government spending around the world, Canada will be part of a small
With the release of the latest growth projections from the Bank of Canada and the International Monetary Fund (IMF), it appears that Canada's two-year run at the top of the G7 group of countries could be coming to an end. Both the Bank of Canada and the IMF have lowered this year's growth predictions, paving the way for - get this - America to take over the top spot.
Canada's combined federal and provincial net debt will pass $1.1 trillion at 11 p.m. ET on October 3, according to a recent