Roundup: Fiscally sustainable, in spite of the narratives

It’s now day one-hundred-and-fifty-six of Russia’s illegal invasion of Ukraine, and they have started shelling the Kyiv area once again for the first time in weeks. Russians are also pounding the northern Chernihiv region, which observers are linking to the Day of Statehood celebrations—something that president Volodymyr Zelenskyy instituted last year to remind the country of their history as an independent state, and was celebrated for the first time earlier this week. Meanwhile, Ukrainian counter-attacks in the south have virtually cut-off the Russian forces in Kherson and have left their forces near the Dnipro River “highly vulnerable,” as Russians shift forces from the east to the south, putting them from an attack posture to a defensive one.

Closer to home, the Parliamentary Budget Officer has declared that Canada’s fiscal outlook is sustainable in the long term, even if some of the provinces’ outlooks are not. This amidst weeks and months of wailing and gnashing of teeth that the current government has spent us into oblivion (they haven’t) and that they have saddled future generations with so much debt (again, they haven’t, and that’s not how government debt works), and that this is fuelling inflation (it’s not). Anyway, here is economist Kevin Milligan to walk us through the report:

https://twitter.com/kevinmilligan/status/1552671459797090306

https://twitter.com/kevinmilligan/status/1552672685326491649

https://twitter.com/kevinmilligan/status/1552674017588510727

https://twitter.com/kevinmilligan/status/1552693987399667713

Programming Note: I am taking the next week-ish off while I have the chance. Loonie Politics columns will continue in the interim, but otherwise expect to see me back in the second week of August. Thanks everyone!

Good reads:

  • Both the prime minister and the Governor General tried to press the Pope on the missing parts of his “apology,” to little avail it seems.
  • Papal visit organisers say there was a translation error, and that the Pope said a “serious search” needs to happen next, not an investigation.
  • The government unveiled their proposed price lists for the incoming gun buyback, and are consulting on the final amounts.
  • US trade officials have expressed concern about the government’s online streaming bill, though they haven’t presented a case as to how the bill is “discriminatory.”
  • The Americans have amended their “Buy American” EV tax credit to include vehicles made in Canada and Mexico, to the relief of the industry in both countries.
  • Leslyn Lewis has officially pulled out of next week’s leadership debate.
  • It sounds like Elizbeth May is planning to run for the Green Party leadership once again (insert joke about the Greens loving to recycle here).
  • Jason Markusoff recaps the UCP leadership debate, in a race that is becoming increasingly unhinged the more Danielle Smith gains support.
  • Susan Delacourt recounts the government’s “relentless” effort to expand the American EV tax credit to include Canada, which finally succeeded.

Odds and ends:

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