Balanced Budget Law is Poor Economics
Balanced budgets sound appealing to many voters, but legislation to balance the books each and every year is poor economics.
Andrew Jackson is senior policy adviser at the Broadbent Institute, and the author of The Fire and the Ashes: Rekindling Democratic Socialism, available from BTL Books.
Balanced budgets sound appealing to many voters, but legislation to balance the books each and every year is poor economics.
It is simply not the case that younger Canadians are being heavily taxed or will be more heavily taxed down the road to pay for the modest public pensions of seniors.
The real question to be asked is whether the Fund is getting a good return for Canadians to support pensions down the road, and perhaps even to provide improved benefits or lower premiums if returns are high.
It is, to say the least, rare for a business-dominated advisory panel to the Harper government to suggest that targeted spending programs are more efficient than tax cuts.