This is my shocked face: The deficit is pegged to rise to $26.6 billion for the current year — up from $14 billion last year, and up from the $19.8 billion projected in the spring budget.
And this is Lorrie Goldstein’s shocked face;
[D]uring the 2015 election campaign, Trudeau said that, along with his imaginary $1 billion surplus we were supposed to have this year, our debt-to-GDP ratio would be 27%, considered a healthy figure.
But Morneau’s economic statement now says it will be 31% this year and that five years from now, in 2024-2025, it will still be higher at 29.1%.
And these numbers don’t factor in the cost of Liberal campaign promises in this year’s election.
Then again, there’s no surprise to any of this.
and who is going to lend you the money, an uncontrolled Socialist agenda like Argentina does not bode well for Canadian Investment…..China, or other Communist countries may be interested….
Somehow, I doubt the teenagers who are so worried about crap that isn’t going to happen 40 years from now will realize that, yes, they will be the ones who will still be paying the interest and most of the principle on this borrowed money.
Sunny days, my friends, sunny days.
Unfortunately the current generation of politicians did not experience the high interest rates of the early 1980s.
Higher interest rates will come. And with the massive federal and provincial debts, we’ll be screwed
And if you have a pension; public, private, or personal, kiss it goodbye. Governments will tax it out of existence.
sigh.
correct, correct, aaaaaaaand correct !!
(ahem) the world economy is a staggeringly incomprehensibly large PONZI FCUKIN SCHEME.
this is proof.
the product being fobbed is debt and all the good things that show up in the cookie jar for the elites to steal.
The approved spin states “we have the best debt to gdp ratio in the G7”.
Of course we all know that budgets balance themselves.
You show me your unfunded actuarial liabilities and I’ll show you mine. IOW Morneau mendacity, again.
Moroneau will never be negatively affected. Either will Blackie or Freeland or the Laurentian Elites.
If you can’t balance the budget when the economy is sound and growing then you’re an idiot.
Remember the Morneau and the Liberals, “bank buy-in” law that was buried in some omnibus bill awhile back? When the day of reckoning comes and the Liberals have totally decimated the economy and there is no more money to be had, no problem their bank buy-in allows them to abscond with our money, from our bank accounts to continue on their merry way. It’s the Librano’s corrupt insurance policy to keep them living high on the hog at our demise.
The First and most important criteria is the Next Leader of the Conservative Party – Must Be uni-lingual English. If the Conservative Party does not stand up for a Standard and Principle the ENGLISH LANGUAGE CULTURE is equal to the uni-lingual French Culture then Canada’s internal Borders will surely change.
Step by Step; the formation of a Capital City requiring French – without a back hand snicker of accent : ) – has created a second-Class citizen culture. Not only because the present Prime Minister stands boldly and declares in almost perfect English — ‘ You do not have a Culture’ — and slides back into faultless French within the Culture He prefers to be the Chief Politico. An understanding easily arrived at when every significant Leadership in Canada and the Nation of Quebec is and normally filled by a Person born in the Nation of Quebec.
The next Prime Minster of English Language Culture must declare all Business of the Nation will be conducted in English when a Prime Minister is not born in the Uni-Lingual Nation of Quebec.
Translation of French spoken in the Governance of Canada will continue; as will English be translated into French through the Nation of Quebec and Province of New Brunswick.
Using what appears to be ‘best practice’ of the Privy Council Office control of the Federal Bureaucracy communication whether Governance of the Nation of Canada is conducted in the Capital Region area of Ottawa and/or Hull in the Quebec Nation will be established for both English and French communications. Availability of English translated into French; outside of the Quebec Nation and the Bi-lingual Province of New Brunswick will remain as is for these Political Entities. There is no need to ‘Reinvent the Wheel’ in providing a similar translation of French into English in the Nine (9) Proivnces and Three (3) Territories. The steady evolution of such a service over the last Seven (7) Decades needs no additional cost evaluation. Such capability is firmly entrenched.
There will surely be an outcry against having an Uni-Lingual English Leader of the Opposition; except the precedence was established by the Liberal Party of Canada when in Opposition with an Uni-Lingual French Leader of the Loyal Opposition. This precedence was cheerfully & graciously accepted by the Conservative Party of Canada Government, plus all other recognized Political Partys in Parliament.
Over the last seven decades [approx.] the English Language culture has graciously acceded to the wishes [demands] of the Nation of Quebec. This especially evident in many ,if not most ,situations requiring Revenue in the form of Taxation & Fees. However the present English Language culture having the advantage of other sources of information of a Nation’s Interest believe it is time for refocusing on the needs of the Majority Population. The present focus of the Ottawa/Hull governance is easily understood as Language Barrier. A barrier cultivated as being a Foundation of the Nation of Quebec.
It is now necessary to re-establish the Strength of English within the Largest Population base of Canada. The obvious depth of French within the Governing Class of Elected – Appointed – Bureaucracy requires a significant change in focus; as previously mentioned. The presence of an Uni-lingual English Prime Minister born outside of Quebec will be both the neccesary awake call, impetuous and catharsis.
It is not practical or even possible to expect an uneventable acceptance of this need. Best We Canadians & Canadiens are hopeful of is for there to be a similar cheerfully & graciously acceptance as when the Liberal Party of Canada installed an Uni-Lingual Franco Leader of the Loyal Opposition.
Surprised? Hell no, I expect the LIEbrawls to be liars, inaccurate, duplicitous and incompetent when it comes to budgets, spending and priorities. These things don’t matter to people who are pretending to be leaders.
They all are mortally afflicted with magical thinking. They also lie to voters, constantly and always. And, their voters WANT to be lied to with visions of grandeur and delusion. That’s the LIEbrawl way!
Its going to be fun watching TruDOPE defending his delusional spending fantasies, with an economy in decline, and Jagmeet shilling for obnoxious levels of deficit spending and taxation……the mellenials that vote for these idiots will pay for it
Buy your ‘Justin Trudeau is a MORON’ Bumper sticker on eBay:
http://www.ebay.ca/itm/174032740365
The stupidity of those that went to school for a long time has no limits.
In the case of that moron it’s severely dangerous to the working people of this country
We’ve been lied to about the true state of federal finances, just after the election? OMG, that hasn’t happened since last time.
The oblivious coalition of nanny state weanies, cannibal conservatives aka ideological illiterate libertarian losers and social policy crybabies are OK with us once again being fluffed and fleeced, ’cause maybe we could separate or something.
Holy f**k Canada, get a grip. The laurentian elite think westerners are bluffing; they’re spot on so far though it’s still early.
Do we need to be put on a national weight loss program to get we’re being starved and milked simultaneously?
Now the AB model gets used on the whole nation, which will be interesting with entire region basket cases still sucking the teat.
Even if the NDP, for the wrong reasons, were to balk, we’d continue to be ruled by Quebec only and Quebec based parties.
It will end or not end, but not well in either case.
Rant over.
Well, if Morneau and the Moron say we’re alright, who am I to disagree?
The Spawn sold his genetic propensity for deficits to a new generation of the mindless mushy middle of the electorate for shiny objects. Unfortunately he isn’t unique in his use of mortgaging the future for today’s trinkets as virtually every western nation is a bankrupt welfare state. I heard a CD Howe spokesman yesterday state that with interest rates where they are, the average federal government employee retiring today has the equivalent of a two million dollar life annuity in defined benefits.
It’s unlikely that any future Canadian government will address our guaranteed insolvency through tax increases, spending reductions or, god forbid, growth (thanks to green theocracy). Instead the currency will be destroyed through planned inflation making sovereign debt worthless along with all wealth stored therein.
This deficit is obviously the result of Harper ,Scheer and the CPC. Not to mention Moe And Kenny. No plan from them to fight the climate emergency has has resulted in this . That and Allowing people who don’t march in pride parades and have differing views on abortion in their political party – even – if you can believe it – Catholics. And obviously “rich” people who don’t have trust funds aren’t paying enough taxes. I know all this because CBC told me so and before the election we were creating thousands and thousands of jobs and a much smaller deficit was being touted. The only reason we lost 71,000 jobs and the deficit is 5+ times the prediction before the Liberals were first elected in the time following their reelection is the opposition clouded their sunny ways. That and not enough people are buying and using dope. Ready for a new country ?
Good satire. Well done.
But Blackie is sending immigrant children camping this summer. He is so wonderful. And how about that hair ladies?
“along with his imaginary $1 billion surplus”
Surplus? What surplus? If Allah Din had claimed to have a surplus if surely would have been covered here at SDA.
After all, it was an election year./
Why are we still part of Confederation?
The Con is so broke it will never recover.
Wexit is vital,if you believe in leaving your children a better world.
That thing called a future..
While nothing is absolutely certain, leaving your grandchildren a massive debt and welfare swamp,probably won’t end well.
Yeah but the Media believes Turdhole and Moroneau are the greatest employees China has ever hired and their not shy about letting everyone know it either, even the 70% that voted against the Turdhole gang, they should just shut up and watch the budget balance itself. I sure hope this latest pile of mendacious Liberal Party sophistry doesn’t hurt Moroneau’s memory like when he “forgot” about his ownership of his french villa… it happens all the time to lying millionaires, even Willie Porno… I watched Bell Media’s Lisa the Flamming idiot invite Captain Turdhole to blather his talking points regarding the economy and he didn’t disappoint her, he blathered and lisped and blathered somemore while saying nothing, Lisa nodded in agreement… a little one act play brought to you by Bell State Media. #WEXIT.
When are we going to have a leader that defends Anglos and Judeo Christian values in this country? My bet is that the Cons will elect a loser from Quebec as their new leader.
We are doomed