deficits Tag

02 Jul 2020 Counting the Cost of COVID Part III: Evaluating Canada’s Current Deficit

by Levi Minderhoud My previous blog post in this series compared Canada’s current deficit to the deficits in Canada’s past. At $256 billion, or 11.8% of GDP, Canada is spending more money to combat COVID than any other war or major disaster in Canada’s history except for during the Second World War. This begs the question, should the federal government spend so much to combat this virus? A Couple of Caveats Before answering the question of how much money the government should spend, I must address a couple of caveats. First, the massive deficit...

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24 Jun 2020 Counting the Cost of COVID Part II: Comparing to Past Crises

by Levi Minderhoud In the first blog post in this series, I delved into the wisdom and morality of government debts, deficits, and aid from a Christian perspective. I concluded that incurring debt is often unwise and sometimes even immoral, but as long as the government has the ability to repay their debt, and the norm is a balanced budget, debt can justifiably be incurred. The Bible also teaches that individuals, families, and churches – not just governments – have significant roles to play in assisting the financially downtrodden. In this second...

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