REPORT: Budget Deficit Could Be Billions Of Dollars Larger Than Trudeau Claimed

Surely, Justin Trudeau wouldn’t lie about the budget deficit would he…

Justin Trudeau and the Liberals said the budget deficit would be $18 billion.

While that’s far larger than what he promised during the campaign, it turns out that even the $18 billion figure appears to be a lie.

The Parliamentary Budget Office is now saying that budget deficits are set to increase.

The PBO also says that the budget deficits are going to be larger than what the Trudeau government is saying:

“When put on a comparable basis, projected budgetary deficits in PBO’s October Economic and Fiscal Outlook are $8.0 billion (0.4 per cent of GDP) larger, on average, over 2018-19 to 2023-24 compared to the Fall Economic Statement. Incorporating the Government’s annual $3 billion risk adjustment narrows this difference to $5 billion. Key discrepancies are attributable to lower income tax revenues ($3.0 billion per year) and GST revenues ($1.0 billion per year), as well as higher operating expenses ($2.4 billion per year).”

The PBO also threw some serious shade on the Trudeau government’s ‘honesty’ in reporting on deficits, in the most polite way possible:

“Parliamentarians may wish to request regular and realistic reporting on the Government’s progress against consistent and measurable fiscal anchors in its budgets and Fall Economic Statements.”

“Regular and realistic,” are two things notably absent from the Trudeau government’s reporting on their massive budget deficits.

Yet again, the Trudeau government attempts to dissemble and deceive the Canadian People.

Spencer Fernando

Photo – YouTube

***

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Alexander S. Romanchuk
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Alexander S. Romanchuk

So what Spencer? He and his band of thieves are only intent on DESTROYING Canada.

David MacKAY
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David MacKAY

* Billions more” n the deficit? Might be the least of our worries – Trudeau’s Open border has no cap on costs to be incurred for deadbeat migrants to build larger government funded enclaves in Canada – nothing like buying election votes with honorable tax payer money for UN migrants who are allowed to vote when they are not Citizens. Also Spencer Fernando what is to be done when what Trudeau signed in this agreement mandates that anyone critical of this be prosecuted criminally???? And any media that supports it be rewarded with Government funding? What now??? Trudeau is more… Read more »

shawn harris
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shawn harris

Pierre Trudeau in 1968 was given a surplus of about 1 billion dollars from his predecessor Lester Pearson, which was transformed into a 19.4 billion dollar deficit . and by the the time he left office the deficit was 194.4 billion dollars. Or to put in perspective as his finance minister Bill Morneau likes, a ratio of debt to GDP, 1968 was 25.5% of GDP and in 1984 it was 43.2% of GDP. It is said history tends to repeat itself. Now we have had the second coming of the treasonous and treacherous Trudeau’s and the numbers are becoming as… Read more »

NancyW
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NancyW

I think they lied again, remember Trudeaus butt tried to bankrupt Ontario first ( we are not at all close to recovery), then decided he could do it for the other nine provinces (not the tenth ruling province though) and the Territories, his Butt has almost, but still has the time, to bankrupt us, or at least leave a debilitating debt. To Control this from ever happening again, I think each Province (not just Quebec because they collect their own taxes) and Territories should collect there own taxes, and then decide as a group how much money should be spent… Read more »

Ivan Hawkes
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Ivan Hawkes

Justin bought a pipeline for many BILLIONS only to abandon any progress with it. Justin GAVE AWAY multiples of BILLIONS to foreign leaders (no expectations, no rules, just a gift) and Justin’s LIEberals have blown BILLIONS on foolish projects (temporary outdoor skating rink etc. etc.). Justin’s newly created taxes and business constraints have diminished investment and employment in Canada. It’s no wonder Canada is going broke and hurting economically. International relationships and dealings have been damaged by Justin’s antics and costume shows, hurting exports. Avoiding the truth is easy for Justin’s herd of Leftist socialists who are driving Canada toward… Read more »

chris zaverdinos
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chris zaverdinos

Doug Ford, the Ontario Premier for the Conservative Party, has discovered that the previous government. A liberal government mislead the public with government expenses. And now, there is a tribunal into the Provincial Liberals spending while they were in power.
Liberals are not fiscal responsible.

Catanddog
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Catanddog

How about provincial debt? Add that on too. Also unfunded liablities of pensions……….I’d love to see a chart with all of these.

NancyW
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NancyW

Except for Quebec’s well funded pension, and no provincial debt.