BREAKING: CANADA LOSES AAA CREDIT RATING

Surge in debt leads to loss of AAA credit rating in a disturbing blow to Canada’s financial reputation.

As debt continues to surge, Canada has lost our AAA credit rating.

The rating has been downgraded by Fitch Ratings to AA+.

According to Fitch, Canada’s debt is projected to rise from 88.3% of GDP to 115.1% of GDP.

While many countries around the world are adding lots of debt, Canada’s growth before the crisis had already been very weak.

Various measures such as the carbon tax and excessive regulations have severely weakened Canada’s economy, with the energy sector struggling under the boot of government interference. Manufacturing has also been weak, with Canada clearly being seen as an increasingly challenging place to do business.

Additionally, the Liberal government massively increased our debt in good economic times, yet that huge surge of spending didn’t boost the economy.

In fact, when you look at Canada’s economic numbers even before the CCP Virus Crisis, it’s clear that Canada had no real growth at all, with GDP increases being almost entirely due to population increases, while Canadians are getting poorer on a per capita basis.

Now, with the loss of our AAA credit rating, Canada now faces even more severe challenges, with a rise in borrowing costs, an increasing burden of debt payments, and a badly damaged reputation.

Spencer Fernando

Photo – YouTube

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What interest rate is Trudeau going to force us to pay for his overdraft uncontrolled spending? When and if the millions of Canadians now off work get back to some sort of employment, they will be disgusted at how much Trudeau is going to have to increase taxes, including estate and his Carbon Taxes, and how little they will have left.

NancyW

This is so sad, Canadians from Ontario really should have known better after Butts did the practice run here in Ontario with the Provincial Liberals destroying our credit rating and an absolutely huge debt, shutting down businesses who could no longer afford the costs and high taxes. The media helped them again to do this to the whole of Canada.

Gary Pawson

Wasn’t, or isn’t that the Que/Lib plan for Canada?

old white guy

Yes Gary all is going according to plan. Dumb Canadians deserve everything they are getting, or as the case may be, not getting.

shawn harris

With the downgrading of Canada’s credit rating, it brings back a once again familiar memory of what happens to our country when it is left in the hands of spendthrift Liberals, such as we have have had in the past in Ontario. First it was the NDP’s Bob Rae who more than doubled our provincial debt,along with the continuous downgrading of our credit rating. Then the not so dynamic duo of McGuinty and Wynne who not only doubled our debt, once again, but succeeded in claiming the prize for being the world’s biggest spend thrift idiots by creating the world’s… Read more »

Jill

and interestingly enough, both the two ontario liberal leaders along with the fed liberal ‘leader’ used/use GERALD BUTTS as their ‘ adviser ‘.

Bert McEwen

dont forget what your friend Doug Ford is doing to Ontario right now,

Tom d

Wow

Guy-Paul Roy

The world will lose their AAA rating come the end of 2020. SARSCoV2/China Communist Party Virus will kick our asses. When times get tough the tough get stronger. Remember what the Joker says… What does NOT kill you just makes you prettier.