By Paul Vieira
Speaking at an event sponsored by the American Enterprise Institute, a conservative-leaning think tank, [former Canadian Prime Minister Paul Martin] said whoever wins November’s election must address the U.S.’s burgeoning deficit the very next day because the economy is at risk of reaching a “tipping point.”
…….Mr. Martin does have pedigree on the subject. He was Canada’s finance minister in the mid-1990s when the-then Liberal government made deep spending cuts that tamed a spiraling deficit and restored market confidence in [the] country. By fiscal 1998, Canada had returned to a budget surplus — its first in nearly three decades.
via Canada’s Budget-Cut Veteran Has Warning for U.S. – Real Time Economics – WSJ.