Last week, the Parliamentary Budget Officer (PBO) published its latest fiscal projections regarding the federal government. They show that even before the defense commitments made by Mark Carney (five per cent of GDP, in order to reach the NATO target), Ottawa’s deficit will be around $60 billion each year for the next five years. This is just the latest indication of the extent to which the Liberal governments led by Justin Trudeau and Mark Carney have mismanaged the country’s public finances.