CTV: Champagne was referring to last year’s deficit, which in the spring economic update last April was projected to be $27.5 billion higher than what this week’s budget showed. Significantly higher-than-expected revenues allowed the federal government to revise down the deficit for last year.
The deficit for next year, however, jumps to more than $62 billion and stays above $50 billion through 2030. The vast majority of any new incoming revenue, meanwhile, has already been either earmarked or spent…