Flaherty said he's worried about the U.S. deficit and debt, continuing slowness in American real estate markets that reduce consumer confidence and sovereign debt in some European countries.
But, the government has accounted for these factors by moderately discounting the assumptions of private sector economists and building in a $1.5-billion per year risk factor in its budget unveiled on Monday. Canada’s Conservative government plans to balance its budget within four years by cutting $4 billion in spending.
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Not a Recession but North America is Slow in Economy: Finance Minister Jim Flaherty
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