So, the federal budget.  That’s a doozy of a number.  A 78.3-billion-dollar deficit is the amount of money spent by the government beyond its revenues — for this fiscal year. The budget limits areas of spending and includes competitiveness, trade diversification, defence and housing, rather than a broader focus encompassing various initiatives. The concept is spending to stimulate the economy.  It’s what Stephen Harper did during the global recession in 2008 when the Conservative government introduced the Home Renovation Tax Credit which spurred Canadians to do home renovations which in turn generate work and spending domestically.  But that fiscal policy was only part of the reason for Canada’s ability to withstand the global recession.  Our banking system was structured more prudently and was less vulnerable than our American neighbours.  And right now, the tariff regime coming out of Washington has moved the scale, not in our favour.  Another significant factor at that time was Mark Carney.  He was the Governor of the Bank of Canada and the BOC during the global recession made the decision to cut the overnight rate by 50 basis points right after he was appointed because he anticipated the financial crisis was going global. And then held the policy rate in April 2009 for at least a year to allow for recovery to begin.  My hope is that his foresight applies as well, this time round.