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Stephen Gordon tackles the current account deficit question.
Eventually, the current account will adjust: government budget balances will continue to improve, and savings levels will improve as incomes recover and when interest rates start increasing back to normal levels. But if the NDP wants to claim that a large current account is a problem, I’d like to know what they would have done differently during the recession and recovery and how it would have reduced the current account deficit. But more importantly, I’d like to know why they see it as a problem to be solved.
