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Federal Finance Minister Jim Flaherty aims to have the budget balanced by 2015.
Federal Finance Minister Jim Flaherty aims to have the budget balanced by 2015.
(CHRIS WATTIE/REUTERS)

Ottawa’s budget balancing may come with big pension asterisk

For the C.D. Howe Institute, the problem with Ottawa’s quest for a balanced budget in 2015 isn’t (as most critics charge) the economic damage from pursuing austerity at a time when the economy is struggling. Rather, it’s that the budget might be balanced in name only – propped up by unrealistic pension accounting that, sooner or later, taxpayers will have to pay for.