Surprise… Parliamentary Budget Officer Has Doubts About Liberal Government’s Fiscal Pledges

Ability to fulfill campaign promises and maintain debt-to-GDP ratio under question.

The Parliamentary Budget Officer is raising doubts about whether the Liberals can realistically keep their campaign promises and keep the debt-to-GDP ratio stable, following a fiscal update that revealed much higher than expected budget deficits.

As noted by the CP, “The parliamentary budget officer says in a new report that the Liberals won’t see a decline in debt-to-GDP ratio this year unless there are spending cuts, greater revenues or faster economic growth before the end of March 2020, when the fiscal year ends. The budget office says the situation could become more acute if the economy slows.”

Following reports that the deficit will be higher than $20 billion a year for the next four years, and will hit $27 billion in 2020-2021, the PBO says “Deficits in this range permit limited fiscal flexibility in the event of an economic downturn to maintain a declining debt-to-GDP (ratio), and limited fiscal room to implement additional electoral commitments in the near term.”

There’s no doubt that the Liberals knew all of this when they made their campaign pledges, and simply lied to the Canadian People about the budget deficit and their (non-existent) plan to balance the budget over time.

However, no amount of well-crafted political lies can hide the reality facing Canada: Our economy is weakening, our government is incompetent, and the road ahead is looking grim.

Spencer Fernando

Photo – YouTube

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Steve Richards
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Steve Richards

These clowns are pouring our country down the drain. It is time for Western Canada to get out while we can. WEXIT NOW.

Maria
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I was on-board with western separatism way back. I’m stuck in BC. Please don’t leave those of us who are stuck here behind. Leave the ninnies in Victoria and the Lower Mainland to their hair-on-fire shrieking and bring the rest of BC with you. Not everyone here is nuts. I joined WEXIT the second it started, and there are a lot more of us out here than most people think.

Sue
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Sue

Gee, the liberals lying to the Canadian people again. That is now normal at this point.

Maria
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At “this point”? I left Toronto, Ontario, in 1978, because “this” was “normal” THEN.

Donald O'Kane
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Donald O'Kane

I think many of us Canadians realised this when they announced the report. All the Liberals do is lie to us and then convince themselves that they have fooled us. The only ones they’re fooling are themselves and some Liberal supporters.

Dave
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Dave

Only fools fell for the Liberal truth spins (lies) and voted for them. And only uninformed people fall for the whole debt-to-GDP ratio line, informed people would not treat their personal finances the same way. Its the interest that kills us and takes our money away from valuable programs, also causes higher taxation. Plus when you take into account Federal, Provincial and Municipal debts the ratio almost hits 90%, listen to Ian Lee interviews BNN and another reporter in Alberta just a day or two ago.

NancyW
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NancyW

Thanks Dave for saying that finally 90 % is close to the truth

Shlomo
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Shlomo

Although one perspective says they are incompetent, the other side of that suggests they are doing what they set out to do. ◇THAT◇is what we should be worried about. Now siding with North Korea at the UN… we are literally faced with severe loss of Liberty at best and pending 3rd world dictatorship if they are being successful as they claim they are. There is no other end to this path. History repeats itself.

Maria
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History has shown us all throughout history that it does indeed repeat itself. Daddy PE Trudeau’s dream and wish is coming to fruition.