Canada Marks First Federal Deficit in a Decade

Harper's Conservatives were ushered into power on promises of government accountability and responsibility, yet they repeatedly break both promises. On fiscal responsibility, one statistic makes this particularly clear: the federal finance department reported that the government ran a deficit of approximately $500 million in the first two months of fiscal year 2008, as spending outpaced revenues.

For the first time since 1997 Canada is running a federal deficit. And over the last few months it has likely gotten worse. But the uncertainty should be cleared up soon - according to Finance Minister Flaherty, an updated economic and fiscal statement is due in October... some time after Harper's chosen election day.

Some coincidence.