The following is something I've prepared for the next issue of CUPE's Economy at Work, a popular economics quarterly publication I produce.
In his annual Economic and Fiscal Update (EFU), finance minister Joe Oliver told Canadians that while the federal government will finally record a surplus next year after seven years of deficits, we can't expect the economy to grow much faster than the slow growth we've experienced since the financial crisis, with economic growth expected to average just 2.4 per cent over the next four years.
Economic growth in this recovery is a third slower than in the recoveries of the '80s and '90s while job and wage growth has also been dismal. And despite all the spending cuts they've made, we also can't expect the federal government to have much extra money because the additional tax cuts they've promised are eating up a lot of the surplus.
READ MORE: http://rabble.ca/blogs/bloggers/progressive-economics-forum/2014/11/why-economy-sucks-one-chart?utm_content=buffer331b8&utm_medium=social&utm_source=twitter.com&utm_campaign=buffer
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