Deficit Wars Ahead

THE LOGICAL CONSEQUENCES OF THE GLOBAL FINANCIAL MELTDOWN OF 2008 WILL BE THE DEFICIT WARS OF 2010.

Ontario projects a $25 billion shortfall, the federal government twice that amount, and municipalities everywhere are facedwith the dilemma that they are forbidden to run a deficit. The budget crisis will be played out according to a well‐known script – sell off public assets, reduce public services, and attack the rights and living standards of public sector workers.

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