Exedus, I think it's a joke to just think about the deficit without considering our debt! Virtually every economist will tell you that a country should run a deficit in bad times but reduce the debt in good times. Our current debt in Canada exceeds $1.3 TRILLION  and when (not if) interest rates increase to just 5%, the interest alone on our debt will be about $70 BILLION per year!! That 70 billion, each and every year could pay for a lot of things!
To further put the amount spent on interest payments in perspective, it is more than what is spent on pension benefits through the Canada and Quebec Pension Plans ($50.9billion), and is more than Canada’s total public spending on primary and secondary education!