Budget Not Balancing Itself: Trudeau Government Runs $1.4 BILLION Deficit In First Two Months Of Fiscal Year

The cost of debt is rising.

Looks like that federal budget isn’t balancing itself.

As noted in a CP report, the deficit in the first two months of the fiscal year – April & May – was $1.4 billion.

Stunningly, government spending surged a whopping 13.5% in that time, showing the Trudeau Liberals still can’t get spending under control.

Keep in mind, even with all of this increased spending, Canada’s economy continues to slow down.

The deficit numbers are deeply concerning, especially when you consider that in April & May of 2019 the federal government ran a surplus of $3.2 billion, while still running a large deficit for the year.

Among the contributors to the rise of red ink is the growing cost of servicing the federal debt, a cost that could get even worse if interest rates increase.

While Trudeau wants Canadians to forget it, we remember that he promised 3 years of small deficits before balancing the budget this year. Instead, there are deficits as far as the eye can see, with a projected deficit of about $20 billion this year.

Spencer Fernando

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jim
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jim

Is the economy still being grown from the heart? Who voted for these fraudulent “leaders” based on their election campaign nonsense?

Thomas
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Thomas

This what happens when children are given a credit card

NancyW
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NancyW

Sounds like the Lieberals are planning to use up this debit before the Oct, election? The Lieberals are making many big time money promises just to try and get elected again and if they did win (sure hope not) will just borrow even more money at the taxpayers expense.

Don Taylor
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Don Taylor

Trudeau and his clowns are stupid,arrogant,lying bastards,Canadians will be relieved when these clowns are removed from power

Shawn Harris
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Shawn Harris

The problem with all socialists, is that they see the government as the solution to all problems; thus they justify their outrageously large borrowing and spending. It doesn’t help that the top politicians , responsible for all this wasted tax dollars are Trudeau and Morneau, the trust fund multimillionaires, who have never earned a dollar in their lives and keep their incomes offshore in untouchable and nontaxable bank accounts. After all Trudeau gave the game away, before he was elected PM, when he said that “budgets balance themselves’. Margaret Thatcher said it best about people like Trudeau and Morneau and… Read more »

Clive Edwards
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Clive Edwards

Perhaps CRA can garnishee his trust fund….-

old white guy
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old white guy

Just remember that as the government inflates the currency and borrows billions the value of any retirement investment shrinks annually, I know, because that is where my retirement money comes from, I saved it, not the government.