Budget Deficit Could Surpass $300 BILLION

A staggering number, equivalent to almost half the debt Canada had accumulated in our entire history up until 2020.

When finance minister Bill Morneau unveils the upcoming expected budget deficit, it is believed the number will be staggering.

Over $300 BILLION.

To get a sense of how massive that number is, consider that the US budget deficit in the mid 2000’s was in that range.

Additionally, Canada’s total federal debt was in the $600 billion range up until this year, meaning we may accumulate half of all that historic debt in just a single year.

We also learned recently that Canada has the highest unemployment rate among G7 countries.

Now, as if that wasn’t enough, it is appearing that Canada may have the biggest ‘fiscal swing,’ in terms of the increase to the deficit as a percentage of GDP among ‘advanced economies.’

Whatever the specific number ends up being, it’s clear that Canada has massively added to our debt, at a time when the federal Liberal government has created an anti-growth environment, making our recovery that much more perilous.

Spencer Fernando

Photo – Twitter

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Donald O'Kane

Yes and trudeau keeps spending and spending and spending. When will this all end? When we vote thudeau and the lieberals out of power. As you have noticed no capitals for trudeau and the lieberals. I will never capitalize them again!!! They aren’t my government and NEVER will be.

NancyW

The very very sad part is way too many Canadians still believe the communist bought mainstream media and this scary foreign supported puppet Trudeau and gangsters they keep telling us is way up high in the polls, are Canadians really becoming that stupid and brain washed? Then I went on to read what the CAE had to say about environment PhD and lawyer Leslyn Lewis’s “green plan” is about – our west will separate if she gets in because like May she thinks oil and gas are dead and she will NOT step out of the Paris accord and she… Read more »

Eileen McRae

All of this debt is on the backs of the future generation if a future does exist for them! This man has no concept of how his “out-of-control”, wasteful spending portends nothing but economic disaster for Canadians. One can just not spend, and spend, and spend! SOMEONE has to pay the Pied Piper at some point in time!