Canada’s Parliamentary Parliamentary Budget Office is warning all political parties that while the federal treasury is about to overflow with billions in surpluses, any major tax cuts or new spending programs could plunge the country back into deficit.
But with political silly season upon us in advance of the 2015 general election, it’s unlikely the three major parties are going to pay much heed to this warning.
The PBO said Tuesday [pdf] federal coffers will spill over with more than $53 billion in surpluses between now and the spring of 2020 but those riches are mostlyf from one-time benefits like the sale of government assets and an economy temporarily growing faster than expected. Continue reading Parliament's budget watchdog warns: We're not as rich as we think!
