Let's be accurate here. There was going to be a deficit even at Freeland's level of $40B. So by overshooting that, he has really only made us $22B poorer relative to the original target. Still a bad thing and still a good reason to dump him, esp. since it blew up a key cabinet portfolio. But we were already heading for a deficit (and have been running them most years since at least his father's time) and he just made it worse.
If we want to get rid of the deficit, we need to heavily reduce a raft of government expenditures. I can see some right off. We badly overpay for half-arsed delivery of contracted service because of political or bureaucratic favoritism (think the Phoenix payroll scandal). A truly competitive bidding process run by a neutral agency would likely get us more bang for our buck. A leaner civil service that actually rewarded competency would likely help in the long haul, too. Consolidating and better managing programs would be another. To be clear, I am not suggesting actual cuts to programs, just managing them more efficiently and minimizing duplication of effort.
But even with all that, to have the level of government support we are accustomed to in Canada, we will have to live with at least a short-term deficit or higher taxes.