The profligate pattern in public policy in which politicians damage economies with out-of-control spending, massive borrowing, and higher taxes inevitably leads to fiscal crises, sharp declines in growth, and, ultimately, currency value and living standards. Since 2015, Canada has been on a downward policy spiral of big spending, borrowing, and taxes. How does a country recover from such a downward spiral? The answer is bold “structural reform” to eliminate special interest privilege and create an environment for strong private sector growth.