Back in 2011, the Center for Freedom and Prosperity released this video citing four nations – Canada, Ireland, Slovakia, and New Zealand – that achieved very good results with multi-year periods of genuine spending restraint.
Today, let’s focus on what’s been happening with government spending in Canada. As explained in the video, America’s northern neighbor enjoyed a five-year period in the 1990s when government spending increased by an average of just 1 percent annually, with most of that progress occurring when the Liberal Party was in charge.
This fiscal probity – an example of my Golden Rule before I even invented the concept – paid big dividends. The overall burden of government spending, measured as a share of economic output, declined substantially. And because Canadian lawmakers dealt with the underlying problem of too much spending, that automatically solved the symptom of red ink. That’s the good news..........To Read More....
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