When Liberal Leader Justin Trudeau said he would run deficits through 2020 to fund an infrastructure program and other spending, Prime Minister Stephen Harper said his opponent, “has no idea what he is talking about when it comes to these things.” For Harper, anything other than a balanced budget is an invitation to financial disaster.
Surely the prime minister would agree that the International Monetary Fund knows a little about such things. It employs hundreds of the world’s best economists and their research sets the tone for mainstream economic policy. Since its main job is to bail out bankrupt countries, the IMF takes fiscal policy very seriously. It condemns profligacy at every opportunity.
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