Canada needs to be rid of the idea that for the public good, and the general welfare, the federal government needs to balance the budget.
On March 21, in Ottawa, Finance Minister Flaherty (the best finance minister in the world according to Prime Minister Stephen Harper) will deliver his budget. He has already stated he wants to balance the budget sooner rather than later, and he grades himself, and expects to be judged by others, according to the speed with which the federal budget is balanced.
This mindset is dead wrong. Canadians would rather have a job, or a raise, than see Ottawa balance the budget. IMF figures show the federal government deficit equal to only 1.3 per cent of GDP in 2012.