Sometime soon, the Trudeau government will release its 2024 fall economic statement, which provides an update on the government’s budget released earlier this year. Critically, it’s also an opportunity for the government to rethink its approach and shift gears. Here’s how the government can change course and start moving in the right direction.

First, this fiscal year (2024-25), the Trudeau government will run a projected $39.8 billion budget deficit, its 10th consecutive deficit since taking office in 2015. The government also plans to continue its string of deficits up to 2028-29. Due to this reliance on deficits, federal gross debt has nearly doubled from $1.1 trillion in 2015-16 to an expected $2.1 trillion in 2024-25.

Though the Trudeau government fails to acknowledge it, this........

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