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.
Photo – Screengrab