At $29.4 billion, the projected budget deficit in 2016/17 is larger than the cumulative budget deficits projected for the entire mandate in the Liberal platform.
federal government spending
This year alone, spending is projected to increase by $20.5 billion, a 7.6 per cent jump.
For the most part, the government did not decide to reform or cut low-priority spending or ineffective programs.
Canadian headlines about government deficits and debt can be dizzying and hard for people to grasp. A few billion here and several billion there and the natural response is for one’s eyes to glaze over in despair. But the increasing government debt has tangible and immediate consequences that affect Canadian families today and into the future.
This can't go on; Opposition politicians in Ottawa want more spending while the Conservatives have no plans to cut back
With Members of Parliament back to work in Ottawa and economic growth having unfortunately slowed, Canadas opposition parties are increasing the pressure for more stimulus spending.
If NDP leader Jack Layton had his way, hed crank up spending to keep pace with President Obama, who is quickly digging the U.S. into a fiscal hole that will take decades to reverse. Taking a slightly more moderate position, Michael Ignatieff and the Liberals want the stimulus to keep flowing after the current March 31, 2011 end date.
Canada, Land of Smaller Government: Its corporate income tax rate is 18% and falling. America's is 35%
When Americans look to Canada, they generally think of an ally, though one dominated by socialist economic policies. But the Canada of the 1970s and early 1980sthe era of left-wing Prime Minister Pierre Trudeauno longer exists. America's northern neighbor has transformed itself economically over the last 20 years.