ok, so let's take a step back.

1) the existing deficit is structural. there will be no sell-off of auto shares next year. and, oil is not rebounding. the upcoming changes in the tax system are necessary to prevent another ten years of deficits. i know that's not how the liberals sold the idea, but it's the actual truth of it. here is the reality: if harper had won, he would have run a deficit due to low oil prices and silly tax cuts. the liberals simply realized the nature of the structural deficit, and spun it around to present the expectations of unavoidable deficits for the next few years. and, if we're going to have deficits anyways, austerity is just shooting yourself in the foot. smart politics. but, do not be confused: we're in a structural deficit, and the changes they're making are necessary to fix it.

2) the liberals will probably take interest rates up a little; that's a historical truth with the liberal party. but, we're not fighting stagflation. it's not the 70s, and we won't see those kinds of interest rates. the reason is they want people to buy bonds. right now, canadian bonds are a crappy investment. and, housing is in a bubble that needs to crash, anyways.

3) an under-reported part of the liberal platform is that they're planning on returning to more lending from the bank of canada. on some level, this is a meaningless accounting issue. but, if they're increasing borrowing from the bank of canada (specifically on infrastructure spending), then where interest rates are set is less important to the overall debt-to-gdp ratio, because the interest on the new debt grows at a lower rate, even if interest rates go up. that new green infrastructure bank is going to be a subsidiary of the bank of canada. this is a big deal that not many people understand.

4) legalizing marijuana will both act as a huge boost to gdp and as a significant revenue generator.

the liberals pulled this trick in the 90s: next year is a wash, but expect "surprise surpluses" starting a year or two early, even with the infrastructure spending.

the key to balancing the books, even if it's all political, is in diversifying the economy and fixing the tax system - not in cutting spending. this is actually the liberals' strongpoint, as a party. you can take this for granted. i'm more concerned about making sure they hold up to their promises on the social side of things.

www.huffingtonpost.ca/2015/10/20/liberal-party-economy-taxes-interest-rates_n_8337240.html