Freeland’s Fall Fantasy
On Tuesday, the Finance Minister Chrystia Freeland unveiled the Government’s fall economic update.
To nobody’s surprise, except perhaps the Prime Minster, the budget has not balanced itself.
Instead, the Liberal Government added an additional $20 billion in new spending,
At the APEC Summit in San Francisco last week, Prime Minister Trudeau lauded his government’s successful “investments in Canadians” and bragged about the “fiscal restraint” his government has “always exercised.” This Fall Economic Update did not demonstrate that.
It was last year’s Fall Economic Update where Freeland stated the Trudeau Government would balance the budget with a $4.5 billion surplus by 2027—a promise glaringly absent from the actual budget, which set no such target.
Not including this week’s announcement, together, Trudeau and Freeland have racked up a national (federal) debt of roughly $1.2 trillion (roughly $30,500 per Canadian). The federal government paid $34.7 billion just in interest on their debt the past year (roughly $21 billion more than the entire budget deficit in 2018).
Yet to listen to Trudeau and Freeland tout their “accomplishment’s”, Canadians have never had it so good.
Most Canadians would beg to differ.
A record two million food bank visits in a single month.
Housing costs have doubled.
Mortgage payments are 150% higher than they were before Trudeau.
Violent Crime is up 39%.
Tent cities exist in almost every major city.
Over 50 percent of Canadians are $200 a month or less away from going broke.
Canadians renewing their mortgages at today’s rates will see an increase from 2%t to 6% or higher.
The IMF warns that Canada is the most at risk in the G7 for a mortgage default crisis.
Business insolvencies have increased by 37% this year.
All of this (and more) is a direct result of this Government’s reckless, out-of-control spending.
They have taxed Canadians to the limit, borrowed, and printed more money than every other government in our history combined.
In Trudeau and Freeland’s sunny world, it’s a fiscal environment where budgets will still (eventually) balance themselves and deficits don’t matter.
Where a few billion more will fix the housing crisis.
Where taxing people and giving them back a smaller rebate will somehow make them better off.
For a growing majority of Canadians, their lived reality bears no resemblance to Trudeau’s boasts or Freeland’s clichés.
This Government is out of touch, and Canadians are out of money.
Conservatives will axe the Carbon Tax.
Conservatives will reign in inflation by cutting reckless spending and balance the budget. This will bring lower costs at the grocery store, the gas pump, and lower home prices.
Conservatives will bring in commonsense legislation to address the crime and drugs plaguing our streets.
Canada’s commonsense Conservatives have a plan to bring home a Canada that works again.