Deficits & Debt

— Jun 4, 2019
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Ontario’s Deficit Reduction Strategy Mirrors Previous, Unsuccessful Attempts

Ontario’s Deficit Reduction Strategy Mirrors Previous, Unsuccessful Attempts is a new study that finds while the 2019 Ontario budget is a departure from the last two years of the previous government, it virtually mirrors the spending increases and deficit reduction strategy of former premier Dalton McGuinty, which ultimately proved unsuccessful.

— Apr 18, 2019
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Examining Federal Debt in Canada by Prime Minister Since Confederation

Examining Federal Debt in Canada by Prime Minister Since Confederation finds that by the end of his first term later this year, Prime Minister Justin Trudeau will have increased federal debt by 5.6 per cent per person—the largest increase of any prime minister in Canadian history who didn’t govern during a world war or recession. By contrast, other recent Liberal prime ministers such as Jean Chrétien, Paul Martin and Lester Pearson who also never governed during a world war or recession all cut per-person debt—Chrétien by 13 per cent, Martin by 8 per cent and Pearson by 6 per cent.

— Feb 7, 2019
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What Happens to the Federal Deficit if a Recession Occurs in 2019?

What Happens to the Federal Deficit if a Recession Occurs in 2019? finds that the federal government’s projected 2019/20 deficit of $19.6 billion will automatically reach between $28 and $34 billion if a recession hits this year, even before the government pursues any discretionary spending, for example, stimulus spending.