Canada’s deficit will be unsustainable in 1-2 years: Parliamentary Budget Officer

Canada’s Parliamentary Budget Officer Yves Giroux says that the deficit will soon become unsustainable if the Trudeau government continues its current spending levels. On Sunday, Giroux warned that any new spending commitments without a plan to decrease the deficit might spell fiscal disaster. “It’s without a doubt that we cannot afford deficits of over $300 billion for more than just a few years. And when I say a few years, I really mean a year or two. Beyond that, it would become unsustainable,” he said. “So if the government has…

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Canada’s current deficit level will be ‘unsustainable’ within 1 to 2 years: PBO – National

The federal government has no more than one or two years to rein in the hundreds of billions of dollars in deficits it is wracking up through coronavirus spending, or risk the debt being “unsustainable.” That’s according to parliamentary budget officer Yves Giroux, who spoke with The West Block‘s Mercedes Stephenson about the federal government’s spending ahead of a throne speech on Sept. 23, which Prime Minister Justin Trudeau has said will pitch “ambitious” new programs. “It’s without a doubt that we cannot afford deficits of over $300 billion for…

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