Debt.

In the wake of the debt ceiling debate in the U.S. and Euro zone summits about the precarious financial situation of some of its members, articles and editorials in The Wall Street Journal and the Washington Post have referred to Canada as a potential model to emulate in order to eliminate deficits and reduce the debt. They refer to how deficits in Canada in the early 1990s were eliminated mostly through spending cuts, and how tax cuts were the source of the growth that put Canada’s fiscal house back in order.