Fiscal year ends badly for Stephen Harper.

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Sixth deficit year in a row

Figures for the 2011-2012 fiscal year just ended in March are not encouraging. There's another deficit.

Harper has been struggling with deficits every year since taking office six years ago. This latest deficit comes in at $ 23.5 billion for fiscal 2011-2012.

There might even be a few more losses to include later this year before the final figures for 2011-2012 come out in the fall.

At least Harper can console himself that this past fiscal year was not as bad as the previous one, 2010-2011, which recorded a deficit of $ 33.4 billion.

The irony is that when Harper he came to power in 2006 there was no deficit. He inherited a $12 billion surplus from that old penny-pincher Paul Martin.

The trouble was Harper thought the Liberal good times would roll on forever. He embarked on a spending orgy.

Then to Harper's great surprise, the Great Recession struck and Harper has never been able to crawl back out of deficit since then.

Harper hopes to do better this coming fiscal year and possibly get Canada back out of deficit by 2015.

That is if Harper is still in power after the next election.


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