Finance Minister Bill Morneau released his first economic update today. The report comes on the heels of a similar one earlier this month from the Parliamentary Budget Officer that found Canada’s economy is performing worse than anticipated. In his update today Morneau said economic growth is worse than predicted in the April budget and the surplus is now a deficit. Morneau says the government will stick by its promise of deficit spending and create investments that will help Canada to enhance growth, and employment.
Is this the best way to kick-start the Canadian economy or is it irresponsible?