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Imagine a diet where you only count calories at lunch and dinner. The weekend brunch, the post-work beers and the midnight tub of ice cream don’t count. And when you do track your fries, you label them as vegetables.

TERRAZZANO: Carney failing to put bloated budget on a diet Back to video

That’s a pretty soft diet.

Now imagine you don’t even stick to that diet and still expect to lose weight.

That’s what’s happening with Prime Minister Mark Carney’s budgeting.

Carney promised to “balance the operating budget by Budget 2028” during the election.

Here’s what that means in plain language:

Carney split the federal budget into two piles — day-to-day operating spending and capital spending. Then he promised to balance just one of them.

That plan was always more of a distraction than a solution to fix Canada’s finances. Politicians hope that if they........

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