DISHONEST: Trudeau Falsely Claims He Set Aside Money For “Rainy Day”

CommentarySpencerFernando

Running deficits is the opposite of “setting money aside.”

While the Trudeau Liberals have gotten a few aspects of the financial response to the CCP Coronavirus right (while failing totally on protecting the country by leaving the borders open), he is now making patently false claims about what led up to that fiscal response.

In a recent press conference, Justin Trudeau falsely claimed that his government has been “setting aside” money for a rainy day:

“Fortunately, Canada has taken responsible decision over the past many years to have one of the best balance sheets in the G7, we’ve been making sure we have money set aside for a rainy day. Well, it’s raining we are now able to invest in Canadians”

As noted by Pierre Poilievre, Trudeau’s claims are 100% wrong:

“Incredible: Trudeau now claims he “set aside for a rainy day”. He did not pay off one penny of debt or put one penny in a rainy day fund of any kind. In fact, he added about $70B in new debt before the first COVID case hit our shores. He started this year w a $27b deficit”

Trudeau – and politicians around the world, have embraced one part of Keynesian economics – using government spending to make up for a devastating drop in private demand.

Now, the problem is that the other aspect of Keynesian economics – running surpluses in good times – has been ignored.

So, while using mass government spending to stop a total economic collapse is a good thing, it is simply false for Trudeau to say he set money aside.

All this spending is borrowed, and Canada’s debt was increased for years, even during a growing global economy, and even though Trudeau was handed a budget surplus by Harper.

As you know very well, this is a time when Canadians need to be able to trust in our government, yet Trudeau is making that impossible by repeatedly telling falsehoods, making stunning reversals, and being late to take action.

Spencer Fernando

Photo – Twitter