The pundits are apparently basing this conclusion on one fact alone: That the Liberals are promising to run deficits (even though they said the opposite as recently as July), while the NDP believes that it can keep its promises while still balancing the budget. Let's break that down, shall we?

1. There is nothing inherently progressive about running a deficit. The reality is that good or bad fiscal and political choices can be made by a government regardless of the colour of the ink on their financial statements.

2. There are different ways of balancing a budget, and there are different ways of running a deficit. Paul Martin balanced the budget by slashing transfer payments and social spending (something that Justin Trudeau has said was the right thing to do), while Stephen Harper ran repeated deficits because he cut corporate taxes (something that Justin Trudeau voted for). It's perfectly possible -- and perfectly progressive -- to balance a budget while doing neither.

3. Running deficits when they are not necessary can impede governments from taking progressive actions in the near and distant future. That's why Tommy Douglas ran seventeen balanced budgets as Premier of Saskatchewan, while bringing in a wide array of progressive policies that culminated in medicare. And that's why NDP governments actually have the best fiscal record of any political party.

But, of course, there is more to this election is about more than a choice between deficits and surpluses.