When people criticized Carney for not understanding how to run an economy even though he is a PhD economist they were shouted down.
But now we see that, while he may get macro economics, he misunderstands the real economy, small businesses and how government decisions affect…
— Sandy White (@SandyWhiteCA) November 11, 2026
Carney’s new budget projects a C$62.3 billion deficit
The 2026–27 budget forecasts C$603 billion in federal spending and a C$62.3 billion deficit. The government is also committing C$142.1 billion in multiyear spending and tax measures, including infrastructure, energy and business investment incentives.
Economists have questioned whether the budget’s accounting assumptions make the government’s fiscal position look healthier than it is. Desjardins and BMO economists have criticized the decision to spend much of the additional revenue rather than reduce the deficit.
https://apnews.com/article/1ec6134771fbeaea75552415b1bab8c9
Canadian dollar suffers its steepest daily decline in nine months
The loonie fell 0.8% after Canada reported a third consecutive month of job losses. It reached C$1.4137 per US dollar, its weakest level since October 19. The weak employment report reduced expectations for further Bank of Canada rate increases.
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