Canada’s Budget Triump
Even among Washington policy wonks, very few realize that, some 15 years ago, Canada successfully dealt with a fiscal and economic emergency almost identical to America’s current crisis. The Canadian experience has prompted only a few op-eds, written mostly by Canadians, and some obscure academic studies. The defining analysis is “Canada’s Budget Triumph,” a 2010 study produced by (Canadian-born) economist David Henderson for the Mercatus Center at George Mason University. Canada, Henderson wrote, “achieved fiscal discipline, turned a budget deficit into a surplus, and in the process became one of the healthiest economies” in the world.