Canada was at the edge of a fiscal cliff in 1994. Spending and debt
reached a point where the Canadian government was concerned that no one would
lend it money.
The short of version of how Canada got out of its fiscal
crisis is this: They cut spending in a big way. They knew they had no choice.
Some brave politicians put the bitter medicine above their careers.
A
friend sent me this
article. I thought you might find it
interesting.
-
Steve Leader