The Financial Post reports in its Tuesday edition that politicians are touting rate cuts as a sign of controlling inflation, but they reflect a weakening economy. The Post's Martin Pelletier writes that Canada, the first G7 nation to cut rates, has made several cuts as its economy lags. According to University of Calgary economist Trevor Tombe, real GDP per capita has fallen for five consecutive quarters, down 2.2 per cent year-over-year and 3.6 per cent since 2022. Mr. Tombe says: "This has real implications for the economic well-being and standard of living of Canadians. Had Canada simply matched U.S. growth, for example, our economy would be 8.5 per cent larger today. That is roughly equivalent to $6,200 more annual income per Canadian. This growing gap is now the widest it has been in nearly a century, which should prompt serious concern." The Prime Minister appears unwilling to acknowledge the depth of the situation. This is an issue because the first step to fixing a problem is to acknowledge there is a problem. Mr. Pelletier says we need less cheerleading of rate cuts and an actual willingness to address that there is a problem here. Unfortunately, we may have to wait until this time next year for this to happen.