Two federal budgets, one problem—spending

It’s federal budget season in Canada and the United States, with a common feature—fiscal planning driven by aspirations.Both federal governments plan major expenditure increases designed to promote objectives that, in the end, will mainly result in deficits and the accumulation of even more government debt. Moreover, despite the claims of investing in infrastructure, both countries share an emphasis on current consumption in the form of transfers designed to curry the support of middle-class votersPresident Trump has proposed a budget that calls for increasing spending on the military by 10 per cent—an increase of $54 billion—that he expects to pay for

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