WHAT? Trudeau Criticizes ‘Ruthless’ U.S. Economic Policies For Being ‘Propped Up By Deficit Spending’

Has he looked at one of his own budgets lately?

As investment flees Canada and surges in the US, more and more people are realizing that the economic policies of Justin Trudeau are failing miserably.

The Nationalization of the Trans Mountain pipeline only made that even more clear.

Of course, Justin Trudeau remains as clueless and hypocritical as ever.

As reported by Bloomberg, Justin Trudeau – who chose to run massive deficits and then broke his own deficit promises – is criticizing the US for their budget deficits, and claims that businesses shouldn’t be motivated by ‘short-term’ thinking:

“If you’re making a decision purely based on how you could maximize your profits in the short term, maybe Canada is not the right choice for you –but that’s not the way more and more successful companies are really approaching their thinking,” Trudeau said in a Bloomberg Businessweek Debrief interview Tuesday in Toronto. “We’re not engaging in a race to the bottom. We’re very much looking for where the economy is going — where it’s going to be 10 years from now, where it’s going to be 30 years from now?”

That is absurd. If business leave now because our country isn’t competitive, they won’t magically come back 10 years down the road. Less investment now means less prosperity later.

And it gets even worse.

Mr. deficit-spending Justin Trudeau criticized the US for their deficits. Also, he mixed up the concept of debt and deficits.

‘“What’s the U.S. debt approaching now, is it a trillion dollars?” he said, though it was unclear if he was referring to the debt or deficit. “We’re talking about something that is not sustainable” and “we have to ask the question whether the tax cuts that they’ve brought in in the United States are sustainable in terms of long term fiscal stability.” Barring some women, visible minorities and other marginalized communities from a path to success is also “going to continue to exacerbate tensions that ultimately aren’t profitable for business,” he said.”

Trudeau is ignoring his own budget deficits, and can’t even get the difference between debt and deficits right. Plus, his claim of the US barring people from opportunity is tough to square with record-low unemployment rates for black people and hispanics.

Here’s a video including part of Trudeau’s comments:

Trudeau’s ‘analysis’ – if it can be called that – is horribly flawed:

The US is able to run larger deficits because of the US Dollar’s status as the world’s reserve currency. As a result, they can borrow more at a lower interest rate. Additionally, about two-thirds of the US debt is held by Americans. While the US debt is high, Canada has some of the worst combined debt levels in the world, and our household debt is the highest on Earth.

And Trudeau keeps running huge deficits by choice, adding to Canada’s debt even as he criticizes the debt of our closest ally.

Another issue that Trudeau ignores is the fact that much of the high US budget deficit is due to the fact that they spend a higher proportion of their GDP on their military than we (or most US allies do). But if Canada was ever attacked or put in danger, our own military is so underfunded that we would be asking the US to help defend us – benefiting from their high military spending. So, it’s a bit disingenuous to criticize them for that when we are so dependent on their military protection.

Finally, it is outrageous for Trudeau to think he knows better than the many Canadian businesses of all sizes warning about Canada’s competitiveness crisis and investment collapse.

With his elitist arrogance, Trudeau thinks he knows better than everyone. Yet, the fact that the government had to Nationalize the Trans Mountain pipeline and the many tens of billions of dollars fleeing our country says otherwise.

Spencer Fernando

Photo – Screengrab

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Ed R Peebles

SEEK AND KNOW THE TRUTH FOR THE TRUTH SHALL SET YOU FREE!

ED P.

Daunell Lapointe

Trudeau is doing the US a huge favour. Canadian jobs and bussinesses leaving to go to the US, 4. 5 billion dollars of Canadian Tax payer dollars given to a Texas oil company. I’m sure President Trump is laughing inside at the complete stupidity of the Canadian government! Trudeau is making wonderful contributions to the US economy!

Ron Voss

I hope that President Trump sends Li’l Potato a zinger on Twitter.

greg

Not certain who is more stupid. Trudeau or the people who invite him to speak.
Seriously , does anyone anywhere actually care about his opinion on business and economics. Hell his finance minister isnt even worth listening to.

Scott

Yea he thinks he knows everything, not bad for a drop out

P

Utter baloney. Money is not fleeing Canada.

“The increase in the stock of foreign direct investment in Canada in 2017 was driven by higher investment from North America (+4.6%) and Asia/Oceania (+6.5%).” StatsCan

Dan

Lies, damned lies, and statistics.

Frank

Yeah P; I guess Petronas, Energy East, Shell and others cancelling/selling off their multi-billion dollar projects don’t count as fleeing this socialist paradise? His father almost bankrupted this country with his delusional fiscal illiteracy…junior will succeed.

Shawn Harris

If you had to choose between “Looney Tunes” characters or Justin Trudeau to create a successful economy and long term prosperity, it would be a no brainer, Looney Tunes characters all the way. After all Trudeau has less intelligence than Elmer J Fudd and Morneau his not so brilliant finance minister, who can’t remember that he owns a French villa, resembles more of a “Wile E Coyote” super genius than someone who is supposed to understand what a capitalist free market is and actually implement policies that produce wealth, jobs and long term prosperity. Trudeau resembles the old saying, that… Read more »

Tommy Hawk

You and I are both aware of the reality that, once clearly demonstrated, idiocy knows no bounds.

Tommy Hawk

Now there is a ‘member of the official opposition’ that clearly demonstrates just what ‘opposition’ means — and he is good at it, as well as tenacious.

old white guy

Trudeau and the liberals are mental midgets and are economic illiterates . Their goal is the ultimate destruction of Canada by having a completely socialist state.

Jen

Spencer, have you ever had a conversation with an American reporter and ask him or her if they are fully aware of Trudeau’s dismantling Canada’s economy and is rudeness to America ‘s own success?
Sometimes, the Americans only know Justin when he makes an appearance in USA because he knows how to perform in front of them whereas at home he behaves differently.
American reporters should not allow Justin to criticize their government without he facing criticisms at how he is damaging his country.

Del

“looking for where the economy is going — where it’s going to be 10 years from now, where it’s going to be 30 years from now?””

DUH. Of course companies are looking that far ahead. That is why more than $17 billion in investments has already left the country, never to return. These companies aren’t going to sit on that money, waiting for Trudeau to be thrown out of Government, they will already have committed it elsewhere.

Reader

Oh my, more Trudeau stupidity. Every time he speaks, we’re given a sharp reminder of the sheer stupidity of this fool.