Dale Orr

Another of those pesky economists suggests the federal deficit will require some attention at some point. Luckily, Messrs Ignatieff and Harper have a choice of solutions. Unfortunately, “none of the above” is not an option.

The Prime Minister’s press secretary concedes that the last person you can trust right now is an economist.

Who was away this day. Absent too was What.

Today brings a belated new tone of realism in high places about the state of the economy. Finance Minister Jim Flaherty—who predicted, in his absurdly upbeat Nov. 27 economic update, no recession and no federal deficits—now allows that the GDP will shrink by 0.4 per cent next year and the federal government will post a deficit of at least $5 billion.