OTTAWA/TORONTO - Canada’s vow to double down on pandemic-related spending to keep the economic recovery under way in the face of a second wave of COVID-19 infections will support activity but raises questions over the burgeoning deficit, economists say.
In a rare national address, Prime Minister Justin Trudeau said Canada has entered a second wave of the coronavirus pandemic and warned the country was on the brink of a surge in cases if people did not follow public health guidelines. “If we don’t survive the short term, there is no sense worrying about the medium to longer term. It’s all hands on deck,” said Craig Wright, chief economist at Royal Bank of Canada.
“All deficits are not created equal,” said Royce Mendes, senior economist at CIBC Capital Markets. “When you’re in such a deep hole and you’re facing a pandemic head-on, most Canadians seem to be alright with spending.”
trudeau is an idiot, canada is doomed.
😱
Smart
A reminder that it has been 42 days since KamalaHarris was tapped as the VP pick. There are 42 days until election day. The senator has not once formally taken questions from the press.
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