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Flaherty's got deficit religion – but can he attain fiscal salvation?

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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 — Finance Minister Jim Flaherty wrapped up his fourth budget speech by urging the opposition parties to vote for it. He might have also borrowed an old line from a late prime minister: “Well, welcome to the 1980s.”

Gold has soared, the sharpest recession in at least a quarter-century is under way, and now we have another unhappy parallel with the final Trudeau years: We have deficits as far as the eye can see.

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