People warned Trudeau about running deficits during good times, and they warned him about crippling our energy sector and imposing a carbon tax. He didn’t listen. And now, Canadians will pay the price.
Nearly every major economy on earth is going through massive budget deficits.
Governments had to pay people to stay home, and try to fill in the massive drop in private sector economic activity.
As a result, debt is surging across the globe, and Canada is no exception. Our deficit is poised to hit a staggering $343 billion, with federal debt to surpass $1.2 trillion.
It’s worth noting that the Conservatives voted for nearly all the Liberal government pandemic spending programs, so it’s difficult for the Conservatives to make any specific criticisms in that area. After all, if they are asked “what would you have done differently,” they run the risk of falling into the Liberal trap of saying they would have given people less money.
However, the real failure of the Liberals, and the real long-term issue for Canada, is how the Trudeau government put us into such a weak position going into the crisis.
Imagine if Canada had been running balanced budgets, or even surpluses, before the crisis.
Imagine if we had embraced our energy sector, instead of trying to crush it. And imagine if consumers hadn’t been burdened by the carbon tax.
Imagine if our economy was growing strongly, rather than GDP growth being based only on higher immigration numbers (which means each individual Canadian isn’t getting any richer).
And imagine if Canadians hadn’t been forced to go so far into debt to try and keep our heads above water.
Instead, the opposite happened. The Liberals left Canada in a weak and vulnerable position when the CCP Virus Crisis hit, and that necessitated even larger intervention amid the crisis. Our deficit is higher, and our debt is far higher than it would have been if the Liberals had actually done something productive with their first four years in power.
This is where the Conservatives should focus their criticism. Canadians generally support the crisis-specific intervention, and the Conservative voted for it as well.
But when it comes to the time before the crisis, and the disregard the Liberals showed for the economy in their first term, it is clear that the Liberals put Canada in a perilous financial position.
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