February 17, 2016

Trudeau Junior on track to return us to structural deficits not seen since days of Papa Trudeau

Brian LilleyArchive

We’ve known for a while now that the Liberals were going to shoot past their promise of holding deficits down to $10B per year for three years. Just three wafer thin deficits they said, but we knew better.

Now it’s looking even bigger and Finance Minister Bill Morneau confirms they have no intention of meeting their election promise.

Morneau answered with political speak of course which requires a translator but essentially he means “we’re not going to be able to balance the budget”.

Regardless of what they say, this is a government that inherited a surplus and had they done nothing at all, they would have had a small deficit.

Instead, we’re going to have a massive deficit and it’s only going to get bigger.

And it’s going to get bigger so Justin Trudeau and the Liberals can repay all who helped get them elected.

Those people are going to be feeding at the trough for a long time and the rest of us are going to be paying for it.

Trudeau has made too many promises to too many people and too many special interest groups and that’s bad news for the rest of us.

Comments
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commented 2016-02-17 17:53:14 -0500
For Justin’s diary-the installation of 400 mirrors at new digs will really be a swell touch.to say nothing about all that job creation in that long suffering industry
commented 2016-02-17 17:43:08 -0500
The reason that they are sticking to the March April budget timing is so they can do in 2019 what they accused Harper of in 2015 when the election was so close. Why is the Liberal scuzzy always the same and so obvious. When you’ve been around to see Liberal government in action you always know what’s coming and how it will end. For many of us, our experience includes the first Trudeau nightmare and we KNEW this was going to be a deja vu. A Trudeau is a Trudeau when it comes to spending our money and having nothing to show for it! Wonder how MSM will spin this into gold.
commented 2016-02-17 17:36:44 -0500
Doesn’t take any skill to spend other people’s money to your heart’s galore, a substitute drama teacher could do that. :[

@climatefallacy
commented 2016-02-17 17:15:05 -0500
“I have a vision: The GST will increase 2% in 2017 due to the massive spending of these Liberals.”

Too modest of an estimate – more likely an increase before year end and then yearly increases thereafter.
commented 2016-02-17 17:06:35 -0500
@ Jim Bob
I agree. The liberals will probably up the GST to 7% again … or more
commented 2016-02-17 16:52:25 -0500
I have a vision: The GST will increase 2% in 2017 due to the massive spending of these Liberals.
commented 2016-02-17 16:38:05 -0500
For a 40 year history of the Debt and Deficits in constant 2015 dollars, see my pre-election article “Canada’s Debt, A Liberal Legacy.” It can be found here: http://heinzegroup.com/insight.htm#13
Looks like history is repeating itself.