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It hardly takes a shrewd premier to keep a province from racking up debt when economic times are good, and it does not necessarily take a reckless government to accumulate debt when economic times are tough. What matters more, when assessing a government's fiscal responsibility, is how policy decisions-as opposed to cyclical effects-influence a province's debt ratio. With economically small provinces being especially vulnerable to exogenous shocks, the need to avoid chronic deficits and debtfatcat:d2h3w6lilfesnnx3jgm2qcmksq