Unveiling of the 2010-2011 provincial budget.

After recording a current deficit of $4.5 billion in 2009-2010, the Quebec government has just announced a series of measures intended to restore public finances. At the heart of its concerns is the government's growing debt. Some people feel it has reached an alarming level, whereas others are minimizing the scope of the Quebec debt. Who is right?

Quebec’s finances plunge into the red.

The Quebec debt is increasing rapidly.

The concept of liberty.

Quebec must resolve its deficit and repay its debt.

It is easy and tempting for politicians to let deficits soar and to dig more deeply into public debt. No country can escape this. In France, the proposed government deficit for 2010 is equal to more than one-third of gross tax revenues. The Moody’s rating agency says world sovereign debt is likely to go from 63% of world GDP in 2008 to 80% in 2010. It is essential to think twice before yielding to this easy "game." This game is dangerous. Unless public debt is brought under control, governments run the risk of leading their countries into bankruptcy.

High taxes don’t mean fewer smokers.

Quebec must resolve its deficit and repay its debt.

Quebec’s finances plunge into the red.