Just like Thatcher predicted.
Via CNews:
The National Bank says the country’s fading economic prospects could put the federal government on track to run $90 billion in deficits over the Liberals’ four-year mandate.
In a report, the bank predicts the public books will sink deeper into the red due to the combination of a weakened economy and Liberal promises of billions in fiscal stimulus.
Report author Warren Lovely says if the bank’s downgraded growth profile comes to pass then Ottawa could lose $50 billion in revenue over the next four years.
The Liberals have pledged to run deficits in the coming years in order to spend $17.4 billion over its first mandate on infrastructure projects — which they predict will create jobs and generate economic growth.