"Any government could cut up to 10% of its spending overnight and 99.99% of their population would never notice the difference."
If Jim Flaherty and the Tories run a deficit, they deserve to be booted from office in the next election for sheer gutlessness. Let's suppose that they determine that we're headed to a $5 billion deficit....The federal budget was expected to spend $150 billion this year...You telling me they cannot find the political courage to cut 3.3% of the spending?
This is why deficits are a problem that should not be returned to the mainstream. While it is great to say, "Spend in the bad times, save in the good," history has shown us that too few pols are willing to remember the second part.