[Aarongavey]

Originally Posted by chemgear

Will be nice for us to finally see an actual budget. Going to be a #### sandwich but it's going to be a long road try to fix this gongshow that's been building for so long.

How much of every dollar are we spending on just interest payments alone now?


https://www.bnnbloomberg.ca/business...e-fiscal-path/

Stupefying," “shocking” and “unsustainable” -- those were just some of the words Ottawa’s fiscal watchdog used Thursday to describe his scathing forecast for federal finances ahead of a long-anticipated fall budget.

Interim Parliamentary Budget Officer Jason Jacques published an updated economic and fiscal outlook on Thursday where he projected the federal deficit would balloon to $68.5 billion this year, up from an estimated $51.7 billion last year.

He also expects the federal debt-to-GDP ratio -- previously a major fiscal anchor for Ottawa -- will no longer decline in the coming years.

Based on public statements from federal officials, spending plans announced over recent months and a weakening economy in the U.S. trade war, he said the path for federal finances appears broadly “unsustainable.”

“I think everybody should be concerned,” Jacques told MPs on the government operations and estimates committee.

https://www.ctvnews.ca/politics/arti...mature-giroux/

Former parliamentary budget officer (PBO) Yves Giroux says it’s likely too early to tell whether Canada’s fiscal outlook is as precarious as his successor is warning.

“I would probably, personally, wait until we see what’s in the budget before making such a statement,” Giroux said during a panel discussion airing Sunday on CTV Question Period. “I think, for my part, it’s a bit premature.”

https://www.cbc.ca/news/politics/par...ents-1.7651039

A former parliamentary budget officer says it is "just wrong" to suggest that the federal finances are unsustainable and is publicly disagreeing with the current fiscal watchdog.

Kevin Page — who was Canada's first parliamentary budget officer (PBO) starting in 2008 — told CBC's Power & Politics that he disagrees with the language of the current PBO, Jason Jacques.

"I think the language from the current parliamentary budget officer, Mr. Jason Jacques, is just wrong and he should walk that back, quite frankly," Page told host David Cochrane.

The good thing is that far more seasoned and experienced people who have had that job have basically said the interim PBO is wrong.