As federal and many provincial governments continue to struggle with both deficits and finding ways to constrain spending, its odd that very little has been done on the compensation of public sector workers.
All told, TD Economics estimates that governments in Canada racked up $45.9 billion in deficits last year alone. Most governments in deficit continue to rely on a combination of trying to slow the growth in spending while hoping that revenues catch up.
More than three years after the end of the recession and Ontarios provincial government continues to struggle with deficits, which as of the last quarterly update, will likely reach a staggering $14.8 billion. Relying on revenues to rebound enough to catch up with spending just doesnt work as Ontarios own history aptly demonstrates. Similarly, municipalities across the province continue to struggle to find sufficient resources for infrastructure needs while balancing their books.
More than three years after the end of the recession and Albertas provincial government continues to struggle with deficits, which as of the last quarterly update could reach $3 billion. Relying on revenues to rebound enough to catch up with spending just doesnt work as Albertas own history aptly demonstrates. Similarly, municipalities across the province continue to struggle to find sufficient resources for infrastructure needs while balancing their books.