So the budget is balanced, right? I mean revenues are pouring in, the economy has recovered and appears headed for historic levels of wealth creation.
But no, the budget is not balanced. Finance Minister Chrystia Freeland is projecting a deficit of $121 billion, in itself a staggering sum, but rendered incomprehensible by Freeland’s own forecasts.
Worse still, the red ink continues in bucketfuls as far as the eye can see. And Freeland is promising even more if the need arises — such as a fall election.
The explanation, she says, is that this budget is all about the pandemic. No, it most certainly is not. It’s all about pandering.