During their years as prime minister and finance minister, Jean Chrétien and Paul Martin have presided over a remarkable restoration of federal fiscal health. The federal budget for fiscal year 1993/94 showed a $42 billion deficit; this fiscal year, current…

Since the March 1996 federal budget was notable for the absence of measures with major short-term impacts on federal finances or the Canadian economy, its aftermath is an apt time to reflect on some of Ottawa’s longer-term fiscal conundrums. This…