The numbers are in, and once again Justin Trudeau far exceeded the spending levels he promised Canadians in 2015.
Remember those teeny, tiny temporary deficits he promised?
Well, they never happened.
Instead, his deficit this year is more than three times as large as he promised, hitting $19 billion instead of the $5.7 billion he promised.
What’s worse, government revenues rose by $20 billion this year and the Liberals still broke their promise!
And, unsurprisingly, Trudeau has no plan to ever balance the budget (another broken promise).
Our federal debt now stands at $671 billion, and Trudeau’s additional deficits will add $450 billion to Canada’s national debt over the next 27 years.
The Liberals are putting current and future generations in debt, with the misguided notion that good economic times will last forever.
But it’s nice to see others realizing this too. From John Ivison in the National Post:
“Yet running deficits twice the size as promised, with no plan to return to balance, and no sign that spending is being reined in, is a recipe for future disaster. History suggests recessions come along every eight years or so — and we are overdue. The recent jitters in the stock market over slower growth and tighter U.S. monetary policy may well foreshadow tougher times ahead.”
Trudeau doesn’t have a revenue problem, he has a spending problem, and he is sticking Canadian families with the bill!