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Betting on a recovery, with little room for bad news

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Swimming in red ink

CP Video - Tuesday, January 27, 2009 at 5:33 EST

The Conservative government dove for economic and political cover Tuesday with a federal budget that submerges Canada in a sea of red ink after more than a decade of clear fiscal sailing

From Wednesday's Globe and Mail

OTTAWA — The federal budget is built on the belief that within a year all the stimulus packages being introduced around the world will fuel a stunning recovery for the global economy.

Not since the Great Depression have the world's major economic powers sunk into a recession at the same time, but, according to the government, the Canadian economy will shrink by less than 1 per cent this year and bounce back smartly in 2010.

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