Canada’s Persistent Deficit Spending: A Legacy of Irresponsibility

Canada has long prided itself on responsible governance, yet a closer examination of the country’s fiscal record over the past two decades reveals a troubling pattern of deficit spending that transcends political lines. From Paul Martin’s $13.2 billion surplus to Justin Trudeau’s ballooning deficits, successive governments have failed to exercise fiscal prudence, leaving taxpayers to shoulder the burden without seeing corresponding benefits. When Stephen Harper took the reins in 2006, he inherited a healthy surplus from Paul Martin’s Liberal government. However, by the time Harper’s tenure ended in 2015, that surplus had been transformed into a $2 billion deficit. While the global financial crisis of 2008 necessitated some emergency stimulus measures, the years following showed little appetite for returning to fiscal balance. Justin Trudeau’s Liberal government has taken deficit spending to unprecedented levels. Campaigning in 2015 on “modest” deficits to s...