The Globe and Mail reports in its Thursday edition that the federal budget gets a B-minus rating. The Globe's guest columnist David Rosenberg writes that deficits now and in the future are far higher than earlier projections, but they are far less than what we are seeing south of the border and are actually middle-of-the pack when benchmarked against the G10 universe in terms of fiscal largesse. For those concerned about deficits, remember that our economy is struggling, partly due to President Donald Trump's tariffs. The Liberal Party shows no interest in broad tax rate cuts, including capital gains. However, there are positive developments: using the tax system to encourage capital investment, fast-tracking resource sector expansion, downsizing government, and focusing on bolstering the country's capital stock and future productivity, which have been lacking for too long. This is Canada's first true "supply side" budget in decades. However, it relies heavily on private sector responses to incentives and provincial partnerships to achieve the projected $1-trillion in infrastructure investments over the next five years. The decision to divide the budget accounts into two items, operational and capital, makes perfect sense.