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.”
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.”
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.