Opinion: Leaving 2021: Was the Debt Binge a Blip or a Sea Change?

From the mid-1990s until the pandemic struck, debt aversion was an organizing principle of Canadian federal fiscal policy. Prime ministers of different political stripes either balanced the budget or ran deficits that were small in historical terms. Then came the pandemic. Emergency spending produced large deficits that caused the federal debt-to-GDP ratio to climb quickly. Read More