Commentary
Kaboom. It’s loud, scary, and urgent. But it’s not the sound of new Canadian munitions going off as we ramp up to $150 billion a year in defence spending because they said so. It’s the federal budget detonating. And if anyone’s minded to call the bomb squad instead of waiting to be blown to insolvency come, now would be a good time. A really good time.
In C2C Journal, Gwyn Morgan snidely recalled a former prime minister’s assurance that there’d be modest initial deficits of under $10 billion for three years then a balanced budget by 2020, which led to nine consecutive often-massive deficits that essentially doubled the national debt. And alas, that part was the good news….