|
Dear John,
The federal government has committed to gradually reducing federal debt as a share of the national economy over the medium term.
But they have not accounted for the impact of recessions that will result in larger budget deficits.
A new study published by the Fraser Institute today finds that there is a 44% chance that the federal debt to GDP ratio will increase by 2036-37, and a 59% chance it will increase by 2046-47, meaning the federal government would fail to stick to its core fiscal goal.
Coupled with the pattern of abandonment for previous fiscal goals, this indicates that the federal government lacks any sincere initiative to hold itself accountable with effective fiscal rules or constraints.
Read the full study here, and be sure to share this one on social media.
Sincerely,
Niels Veldhuis
President
The Fraser Institute
|
