Moneybags Morneau Refusing To Say When Budget Deficits Will End

Despite Trudeau’s campaign promise of just three years of “modest” deficits, Canada faces years of red ink with no end in sight.

Outside the Liberal Caucus meeting in St. John’s, Finance Minister Bill “Moneybags” Morneau said the government plans to continue running deficits, once again contradiction one of the key election promises made by Justin Trudeau in 2015.

During that campaign, Trudeau said the Liberals would run three years of deficits, totaling about $25 billion combined. Instead, they’ve run deficits of around $25 billion per year.

This raises serious legitimacy issues for the Trudeau government, as it is unlikely they would have won a majority government promising endless deficits with no plan to reach balance.

Now, Morneau says the government will keep “investing”, which means borrowing money and adding to the debt, increasing the amount of money spent on interest payments instead of being available for infrastructure, healthcare, and tax reductions.

Interest rate concern

The endless Liberal deficits are an added concern with interest rates going up, making interest payments more and more costly. Despite being handed a balanced budget by the Harper government, and despite a global economy that is growing (as opposed to the crisis of 2008-2009), the Trudeau government keeps blowing through wads of cash.

Meanwhile, the economy lost 88,100 full-time jobs last month, personal debt continues to skyrocket, and investment is fleeing the country.

Spencer Fernando

5 comments Add yours
  1. Andrew Scheer and the CPC have been handed their issue on a gold platter,not quite as bad as the GP handed to Harper in the wake of the LPC corruption scandals, but a very salable one nonetheless.

    When Trudeau and company initiate the federal carbon tax and that further hits Canadians in the wallet, voters should be po’ed enough to reconsider Justin’s smiling face and endlessly repeated political cliches.

    I hope the people who run the CPC are up to the challenge.

  2. Why don’t you write down those lib mps who are making over two hundred thousand dollars in salaries paid for by their citizens and that they have to pay higher taxes.
    Mind you, they will say that they have to pay for staff and employees etc. Well you just high light the general public own salaries who have to pay for babysitters, healthcare, employees and other amenities and so on with half or less than half the salaries the liberals make and yet the liberals are taxing those less fortunate.
    spencer, the public are too manipulated by the media that people like you have to take reins from them for the public sake.

  3. There is a reality here that cannot be ignored and that is that, as long as the Liberals are in power, no matter whether federal or provincial, it is a given that there will never be an end to deficits and the harm that does and will, in the future, cause for those who have to pay to cover those costs. The two best examples at this moment in time are the federal government and the government of Ontario. In any other setting, such actions would be referred to as criminal.

    1. Both the Federal and Provincial Governments are INCAPABLE of Governing this Once Beautiful Country. These Liberal Provincial and Federal Governments are Destroying their Provinces and Canada! Anyone Who Votes for the Liberals in both the Federal or Provincial Elections Need Their Heads Examined! We Have Definitely Gotten a Taste of Liberal Corruptness Many Times. Who are Voting for these Liberal Politicians Who are ALL CORRUPT, ARROGANT and Have a HATE for HARD WORKING, OVER TAXED, LAW ABIDING CANADIANS???

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