Forget the deficit doomsters, the IMF’s got it right
We need productive public investment now for a clean and smart post-pandemic economy if we are to avoid long-term unemployment and economic stagnation.
Finance Minister Chrystia Freeland, pictured in Ottawa on Aug. 18, 2020. With a projected federal budget deficit in the range of $350-billion in the current fiscal year, there are understandable worries over whether we are pushing ourselves over a fiscal cliff. While that is always a risk, the evidence suggests the answer is 'no,' so long as we make sure that we are careful in how we spend and what we spend, writes David Crane. The Hill Times photograph by Andrew Meade