March 2018
Federal “Market Debt” First Exceeded $1 Trillion Six Years Ago Under the Harper Government
The print and TV media recently picked up on a statement in the 2018 Budget that the federal government’s “market” debt would exceed $1 trillion. They reported this as the tipping point for federal finances, as if the government had hit the proverbial “fiscal wall”.
Read MoreFiscal Monitor for December 2017
Among the documents released on budget day was the Fiscal Monitor for December 2017. The federal government posted a budgetary surplus of $565 million in December 2017, compared to deficit of $1.3 billion in December 2016.
Read MoreTHE 2018 BUDGET GETS HIGH MARKS FOR FISCAL CREDIBILITY
Most economists who follow federal budgets probably didn’t think much of Mr. Morneau’s recent budget. In their view, there is too much new spending; spending on government operations is growing too fast; and, there is no commitment to deficit elimination. They would probably give the budget a failing grade in judging its overall fiscal credibility. In a poll conducted the Forum Research Inc. 36% of the respondents said the budget was bad for the economy.
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