Is Public Debt Reduction Worthwhile?
DOI :
https://doi.org/10.55016/ojs/sppp.v18i1.79645Résumé
This paper examines whether reducing Canada’s federal debt is a worthwhile policy objective, in light of economists’ advice and public opinion favouring debt reduction. As well, the federal government has projected a gradual decrease in its debt-to-GDP ratio over the next 30 years. Reducing the public debt means that governments have to adopt a policy of fiscal austerity. This paper focuses on the trade-offs of fiscal austerity — short-term sacrifices for long-term benefits.
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