Printing too much money may be inflationary (as all spending can) but we are far from full employment and the economy desperately needs demand.  It's irresponsible not to be running big deficits at this time unless you think it's ok to have millions of Canadians with no work or precarious work.  I will pick addressing real problems over imaginary ones, unlike most commenters on this thread.  

Oh, and the federal government has a monopoly over the currency and can set any interest rate it chooses via central bank action.  Sound finance precepts (i.e. the need for budget balancing) are irrelevant and worse counterproductive for a currency issuing government.