Reckless spending by the Liberal-NDP socialists keeps putting upward pressure on inflation.
Even before the surge in inflation which has robbed so many Canadians of our purchasing power, Canadians had among the highest household debt burdens on Earth.
And today, that dangerous trend continues.
Terrible anti-growth socialist policies by the Trudeau government – backed by the NDP – have made the economy even worse, with per capita GDP dropping fast.
Canadians have thus become even more indebted as we try to hold on to our living standards.
So, many Canadians were hit hard by interest rate hikes, even though those hikes were necessary to bring down inflation.
And now, many Canadians are desperately hoping from some interest rate relief in the form of rate cuts.
Normally, with inflation having stabilized somewhat, rate cuts would be expected.
But not so fast!
It seems reckless Liberal spending could delay interest rate relief:
It just keeps getting better and better man.
This government is fundamentally unable to turn the taps off.
That’s all they know how to do in the face of any problem.
“Let’s spend more money!” https://t.co/ZLsBglUAI7
— Anthony Koch (@Anthony__Koch) April 7, 2024
In a recent note, Scotiabank economist Derek Holt explained that increased federal spending could put pressure on the Bank of Canada:
“The Feds are likely to add to that estimate of fiscal contributions to growth and are floating expansionary components of the Budget each week in advance. Recall that Governor Macklem warned that if governments added more to fiscal easing, then it would only further complicate his job.”
This is the key problem with the Liberals when it comes to the economy. What Canada needs is for the government to do less. Step back. Let us keep more of our money. Let the market work. Let people and companies compete on their merits.
But the Liberals simply refuse to step back. They keep interfering in the economy, and every time they interfere they make it worse.
So, it is essential for all Canadians to see what is happening here. If interest rate relief is delayed, the blame will be 100% on the Liberals & NDP.
Spencer Fernando
