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Canada’s Lessons for America

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Before drawing specific lessons for the United States, it is useful to assess just how significant the Canadian reforms were. Whether we look at absolute federal spending in dollars, spending as a percentage of the economy, deficits, or total federal debt, the actual Canadian response to their fiscal crisis was far more austere than what has been proposed in the Bowles-Simpson and even the 2013 House Budget Resolution (“Paul Ryan plan”) proposals.

Northern Light: Lessons for America from Canada's Fiscal Fix

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