Trevor Tombe: Canada’s federal deficit is worrying—but it’s nowhere near the fiscal crisis the U.S. is facing (The Hub)
... concerns about Canada’s own fiscal position are growing. The federal deficit remains stubbornly high, and spending continues to rise with little sign of discipline. Provinces, meanwhile, are grappling with mounting costs—especially in health care—and trade disruptions that cut into revenues. Alberta’s latest budget latest budget, for example, featured an unexpected $5.2 billion deficit this year, down from a $5.8 billion surplus last year. But as serious as these challenges are, they remain minor compared to the fiscal crisis unfolding in the United States. The latest projections from the Congressional Budget Office (January 2025) highlight just how dire the U.S. situation has become ... CLICK HERE for the full story