The budget challenges of the 1990s necessitated disciplined austerity
measures that eventually produced a string of federal surpluses, catapulting
Canada to the comparatively strong fiscal position it presently enjoys.
Unfortunately, from 2005 on, federal spending has increased at a rate exceeding
economic growth. According to the Canadian Taxpayers Federation, had
program spending been limited to the combined rates of inflation and population
growth (2.7%) since Paul Martin's first budget in 2003-04, there would be a
surplus now of $25 billion.
It should be no secret that I am hoping for an austerity budget brought down by the federal government. I sincerely hope that if the Conservatives believe they will be going to an election this spring anyways, that they will bring down a budget that sets the tone and gives all Canadians tired of deficit spending and increasing federal debt a party which is setting the tone fiscally.
In 2008, when the "Coalition" crisis occured, the Conservatives attempted to force parliament to lead the way by giving up some of their entitlements. I hope that they revive some of those ideas along with incorporating some of the FCPP's suggestions in order to bring the books under control and show the country that government spending CAN be cut without affecting the average person.
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