Source: Andrew Russell, Global News, October 10, 2019
Canadian politicians love comparing balanced budgets to a household balancing its chequebook, but economists say the comparison is misleading and that smaller deficits are now like the new balanced budget.
The main parties are also no longer as rigid about maintaining balance. In fact, regardless of whom you vote for on Oct. 21, no party has a plan to balance the budget in its first term in office.
Kevin Milligan, a professor of economics at the University of British Columbia, says focusing on maintaining a sustainable debt-to-GDP ratio is more important than returning to zero balance.
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