Munir Sheikh is a research professor at Carleton University. He has served as chief statistician of Canada and as an associate deputy minister of finance.
For example, former prime minister Stephen Harper’s commitment to balanced budgets flew out the window when the 2008-09 recession struck. Meanwhile, Prime Minister’s commitment to a declining debt-to-GDP ratio took a beating with the onset of the COVID-19 pandemic. Rather than wait for us to hit an imaginary wall one day, we should substitute concepts of fiscal anchor that rely on arbitrary numbers – such as balanced budgets and declining debt-to-GDP – with ones that are grounded in hard economic theory. The benefit of such an alternative approach would be that fiscal policy would be linked to economic performance – both short- and long-term – rather than floating about without a direction, waiting for an uncertain crash.
I believe it's closer to $1.4 trillion, the overwhelming majority caused by the fiscal incompetence of Trudeaus.
Trudeau has spent more money ( gave away ) then all prime Minister added together and fooled the easterners on a carbon tax
globebusiness it’s too late to fix it, especially with Liberals running more annual budget deficits. Alas JT, the budget won’t balance itself.
Duh
Bots galore.. block away
You didn't have a $1.1 trillion debt 3 years ago. But Yiu had a PM and BoC get together to blow money out the door !!! How do yiu fix that !!!
globebusiness Hahahahaha.
They don’t know how
globebusiness You think? Let me see. Balance a budget means to not spend more than you get in! Always been tgat way! What do you have to re-think? Sigh.
Cut the liberal free for all spending would be a place to start! These clowns couldn’t operate a lemonade stand without a consultant!
For the average leftists, it’s all about appearances. As such, they will never admit that they were wrong. Their perceived status in society depends on it. They have gladly sacrificed their own children to the trans fad— what makes you think they care about Canada’s debt?
Talk about misinformation...No way Canada can be 1.1 trillion debt. Our budget balances itself
Lol 1.1 trillion
GOLD STANDARD
Stop giving money to other countries.
One man’s opinion who worked under Stephen Harper’s conservative government. Infinite number of opinions by economic “experts” out there.
Pretty simple: STOP SPENDING!
Conservatives always against government spending. Until you ask them to give up their benefits. Then it's 'other' government spending that's the issue.
'shades of lipstick” Globe compares Harper’s recession spending on par Trudeau’s waste. Debt is only that bad, look at Japan the Globe says and Paul Martin was a fiscal wiseman, yup, he took EI surpluses and some pension $$ and claimed to be a good steward of finance.
Rethink subsidizing foreign national companies that steal our resources.
Good luck