The two biggest automatic stabilizers from Ottawa are income taxes and employment insurance payments.
A phrase heard almost hourly at the conference was “this time is different.”
When you’re in a recession, one of the key signs is that employment is either stagnant or falling.
The United States continues to suffer from a historically weak economic recovery. Monthly GDP and employment numbers remain near anemic. From a historical perspective the economy should be roaring by now given the pronounced contraction in 2008.