Canada's Housing Bubble

January 2010 Dale Orr Economic Insight

The government has told us to expect Budget 2010 on March 4 to reveal their plans to eliminate the deficit. Their basic approach was laid out in their September Economic and Fiscal Update. Since that time forecasts for the performance of the economy for this year and next have changed. Many very knowledgeable commentators, including several ex- Deputy Ministers of Finance have argued that their plans for spending restraint are either unrealistic or unwise. The Parliamentary Budget Officer has argued that the government has a “structural deficit,” making the government’s preferred route of relying on economic growth to rescue us from the deficit, unworkable...

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