Jim Flaherty tries to explain why Kevin Page is wrong to say that tax hikes or spending cuts are going to be necessary to get the country back out of deficit.
“He’s wrong,” Flaherty told journalists in a conference call from a G8 finance ministers’ meeting in Lecce, Italy. ”Because he says growth rates likely will be slower than I had predicted. Now, if you make an assumption with respect to lower growth rates, then you get the results that he postulates. But anybody can do that.”