Canada's Illusory Fiscal Responsibility

Hey Americans, don't feel jealous of Canada's estimable federal finances.

Just look at their provinces, and you'll feel just fine.  

Admittedly, the U.S. has a State pension problem too.

But maybe we should rethink Canada's fiscal image.

Lesson:  Creative accounting exists everywhere, and federalism creates fascinating budgetary flavors.  

From Maclean's: