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May 21, 2020

OP-ED: The Imaginary Unicorn “Balance Sheet”

Bill Morneau has told Parliament 20 times that the government’s “balance sheet” is strong. On May 13th, I asked the Finance Minister to tell us about the balance sheet’s three main parts: assets, liabilities and equity. What is the dollar value of the assets on the government’s balance sheet? No answer. How about liabilities? No answer. Equity? No luck. If …

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