Policy group calls on feds to cut spending to prevent deficit

    OTTAWA, Oct. 27 /CNW Telbec/ - The Canadian Centre for Policy Studies is
calling on the federal government to avert a budget, even if that means
cutting spending.
    "The federal government should categorically refuse to run a budget
deficit, even if that means cutting spending," said Joseph Ben-Ami, President
of the Centre. "Deficit financing is one of the failed policies of the past.
It may stimulate economic growth in the short term, but the chickens always
come home to roost in the form of higher inflation, higher taxes, and lower
growth later."
    Ben-Ami also warned that Canada's public finances are still fragile.
    "In addition to a federal debt of more than $400 billion, we have an
unfunded pension liability in the hundreds of billions and a looming
healthcare liability that will have to be paid out of general revenues. We are
simply in no position to start taking on more debt - period."

For further information:

For further information: Joseph Ben-Ami, (613) 866-7313

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