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Federal Budget 2017—Ottawa should learn from Canada's last road to debt

The November 2016 federal economic update projected persistent deficits from 2015-16 to 2021-22. Shortly after, the Department of Finance released projections, which saw federal deficits persisting until the middle of the 21st century.If the federal government adheres to its current track, by fiscal year 2021-22, Canada’s federal government will have accumulated $130 billion in deficits. While the deficits are projected to be relatively modest at close to or below 1 per cent of GDP, it remains that a substantial pile of debt is being acquired.As we await Wednesday’s federal budget and follow the federal return to chronic deficit financing, it’s

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