Tuesday, May 26, 2009

So much for no deficit, eh Stevie?

After campaigning last fall on a 'no deficit' platform, the Harper government announces something quite different.
The federal deficit will soar to more than $50 billion this fiscal year, setting a dubious record far eclipsing the bad old deficit days of the early 1990s.
Finance Minister Jim Flaherty announced Tuesday that the government's shortfall will be more than $16 billion higher in 2009-2010 than he forecast in January's budget.
"We will run a substantial short-term deficit this year which I would estimate at more than $50 billion," Flaherty said.
Read the story here.

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