Trudeau Government Projects Budget Deficits Until Year 2046

So much for the budget balancing itself.

In the 2015 campaign, the Trudeau government promised three years of “small” budget deficits.

Justin Trudeau even said, “the budget will balance itself.”

Nope.

Now, the government is trying to spin a recent report projecting that – under the current policy trajectory – the budget deficit won’t be eliminated until the year 2046.

There is a sad attempt to say those numbers are “good,” since it’s a change from previous projections that Trudeau policy would lead to deficits until 2051.

Of course, running deficits for 31 years instead of 3 isn’t anything to be proud of.

Said Morneau, “We have an ambitious plan to grow Canada’s economy by investing in people, growing the middle class and helping those working hard to join it.”

Broken promise

Whatever spin the Trudeau government puts on it, the long-term deficit projection represents a massive broken promise.

Had Trudeau told voters in 2015 that he was planning to run deficits until 2046, it’s very unlikely that he would have been elected, and he certainly wouldn’t have won a majority.

Instead, he said one thing, and did something totally different, saddling Canadians with projections of hundreds of billions more in debt – all without a global financial crisis as a reason to run budget deficits.

It’s a betrayal of Canadians’ trust, and a betrayal of future generations, and we will be paying the price for a very long time.

Spencer Fernando

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Henry E.
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Henry E.

The borrowing and spending binge by Canadian households, businesses and governments (all levels) continues unabated. Growing the debt in the economy significantly faster than the economy itself grows seems to have developed into a way of life in Canada.

Canadian total (household, business, and all levels of government) debt numbers as of the end of September, 2017

https://owecanada.blogspot.ca/2017/12/canadian-total-household-business-and.html

Miles Lunn
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Deficit also will explode whenever interest rates go up or we have another recession. The deficit is only manageable now due to robust growth and low interest rates but that won’t last forever.

Nancy
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Nancy

We also have a debt in the trillion range plus to pay off, more deficit just adds to the debt the interest on our debt alone would pay for our health care so we are told. So for temporary jobs now it should not be a good thing we need Canadian business here in Canada so we can get work that lasts and get our self respect back, and be proud of our working Canada. AND FEEL BETTER ABOUT PAYING TAXES THAT ARE NOT MISUSED.

miroslav
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miroslav

Trudeau sure is sending Canada into no return ,we will never see a balance budget for hundred years, sure as hell does seem to balance by itself. People that believed that have rocks in their head. Canada is finished for ever Trudeau hasn’t finished yet, 2 more years. What a disaster we are in. Liberals be proud the great leader you elected. Between Ontario and Canada more money in debit then Canada has ever seen. 3rd world country here we come.

Catanddog
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Catanddog

I had to laugh! Just like all Leftist spins on reality…..31 years. Death and forgetfulness will solve the corruption and government bungling. As Trump’s tax reforms create jobs and prosperity for the US what is Little Potatoes going to say? Wait for 31 years, it’s coming?

Sandra Clark
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Sandra Clark

2046? By that time Trudeau will be long gone and enjoying his life on his own millions and a hefty government pension for life. The debt he’s incurring at a reckless speed is going to be the problem of many more Prime Ministers in the future. It’s time Trudeau stopped his reckless spending on himself and his giving away and misusing of Canadian Tax Dollars. It’s time he used our tax dollars on our own Country and on the very people that are being forced to pay these taxes. He has betrayed Canadians and will continue to do so, until… Read more »