Canada’s financial road ahead is riddled with great pain and sacrifice

Finance Minister Morneau and Prime Minister Trudeau at Pastaggio Italian Eatery in Stouffville, Ontario on October 16, 2017. (courtesy PMO)

While U.S. President Trump and Mexican President Obrador were meeting in Washington D.C. to celebrate the United States-Mexico-Canada Agreement, Prime Minister Trudeau was in Ottawa defending his government’s mid-year fiscal update. It is no surprise that the numbers are not pretty, as the Liberals have attempted to rescue the economy with major support payments, just like other countries. Finance Minister Bill Morneau has delivered the federal government’s fiscal update, which forecasts a deficit of $343.2 billion this year because of a sharp decline in tax revenue and massive emergency COVID-19 related spending. According to The Globe and Mail, this deficit…

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