About that world debt - Macleans.ca

About that world debt

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Scott Clark and Peter DeVries have some questions for Jim Flaherty ahead of the next meeting of G7 and G8 finance ministers.

President Obama has said that he wants a balanced approach to solving the US deficit and Debt problem. This would require both expenditure cuts and tax increases. Mr. Flaherty has said that he would never raise taxes to deal with a deficit problem.  Lower taxes are needed for growth. This sounds very Republican if not Tea Party. What advice will Mr. Flaherty tell the Secretary of the Treasury regarding taxes to reduce the US deficit?

The Prime Minister claims great success for his leadership at the G-20 in getting countries to commit to reducing their deficits in half by 2013.  What has happened to that commitment?