Liberal Government Ran $120 BILLION Deficit In The First 3 Months Of Fiscal Year

And there’s no end in sight to the massive deficits, as the Liberals pursue a job-killing radical far-left ‘green’ agenda.

The budget deficit for the first three months of the 2020-2021 fiscal year was a whopping $120.4 BILLION.

For comparison, the government ran an $85 million deficit in that same time period last year.

A key reason for the gigantic budget deficit was a huge surge in aid spending for Canadians who were told to stay home by the government due to the CCP Virus Crisis.

Spending rose by $90.3 billion, with about $70 billion being spending on government transfers to individuals.

The wage subsidy program also cost $22.8 billion in that time period.

Revenue plummeted, dropping $32 billion due to reduced tax revenue and deferred payments.

While this was necessary at the time of the crisis, the Liberals appear set to try and lock in this unprecedented era of massive deficits.

Rather than unleashing the true potential of the Canadian economy, the Liberals are pushing for a radical far-left ‘green agenda,’ which will make things worse by massively increasing debt, killing good jobs, and increasing the cost of living.

The impact will be devastating and will make it far more difficult for Canada to recover from this current crisis, and make the burden of debt even worse.

Spencer Fernando

Photo – YouTube

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Del

The Government is deliberately shut down and everyone knows why. How come Trudeau is still spewing out billions with no accountability? We have to remove this dictator.

Arie Intveld

They call it a “green recovery” because every program and incentive will need to be government subsidized. The Liberals will just simply help themselves to all of your “green” to fund all the subsidies. And this is in addition to the multiple generations of Canadians who will be paying off a trillion dollar national debt.

War is when the government tells you who or what is the enemy. Revolution is when you figure it out for yourself.

NancyW

The collapse is getting closer, and that is when our agenda lawless contingents will really go out of control. Many Cities already have big tent neighborhoods growing fast now, mine does, more homeless people, with whole families, many children out on the street, lucky if they even have a tent, no water, no food, but lets hide all this. Let the UN bring in more hostel new people still. I really never wanted Canada to get to this and hope I do not have to join them, suicides on the rise, but we all saw it coming, the UN’s left… Read more »

Paul Chabidon

Where is all the money going it sure would be nice to have list of all the expenses?