The Harper government plans to run deep deficits totalling up to $30-billion in an effort to pump enough cash into the economy to lift Canada out of a painful recession, the Canadian Press has learned.
A senior government official said deficits totalling $20-billion to $30-billion will be “short term,” but wouldn't give a specific time frame.
The estimate is more than double the projections contained in a Finance Department document released at the finance ministers meeting in Saskatchewan.
http://www.theglobeandmail.com/servlet/story/RTGAM.20081218.wdeficit1218/BNStory/politics/home
Good news for the country, but it probably leaves the coalition without a leg to stand on.