It is fashionable to Promise a Deficit? Wow!

Perhaps I should have stayed in bed. I got up and turned on the radio. I hear the Liberal Princling’s voice promising land and housing in Vancouver . Amazingly , it is implied that he will pay for this by borrowing more money since he denigrated ,in this short ad , The NDP leader and the Prime Minister for talking about balancing the books. Obviously, he had no time for that.

I can’t remember ever hearing so blatant a statement which in essence says vote for me and I wil borrow more now and incur a deficit.

In a series of blogs earlier this year I showed that all the Provinces were carrying a deficit this year . The Federal Government is the only Government this past year to balance the books. We carry a large national ( Provinces and Federal Government combined) debt. The Economist Magazine debt clock shows our national public debt to be $1, 721,393, 622, 951.That is over one and one half trillion. That translates into $ 48,532.21 per person. Our debt is 85% of our GDP!

And this morning the Party that is promising more deficits is ahead in the polls? Where am I?

Have we heard of Ontario and Quebec and their debt? Of California? Of Spain , Greece?

When a national leader denigrates those  opposed to  deficits , promises more of them , we all have a big problem .

If this is our future , get on your knees.

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2 thoughts on “It is fashionable to Promise a Deficit? Wow!

  1. Good morning Brian. Sadly, I would say most Canadians operate their own finances in a high debt mode and are clearly comfortable in doing so. Why would they have any particular concern by Trudeau’s approach in creating more debt, especially if they smell even a whiff anything in it for them in the short term. Those who have a few dollars are still the bad guys who should be taxed more and few are taking advantage of the TFSAs anyway, because it is longterm. We are a “now” culture. Also, it seems we have a shortage of skilled labour so who is going to do all this “new” infrastructure work? Perhaps it will just divert workers from private sector activity to public sector projects.

    Btw, on the legalization/decriminalization of pot, a presentation by the director of the pot facility in Nanaimo attracted the biggest attendance in quite a long time at our retiree club. I could not believe our appetite for this apparently miracle drug for myriad self-diagnosed ailments of seniors (notwithstanding the other medical examples). While my wife and I have a personal aversion to pot for a lot of reasons not the least of which was three of four of our children succumbed to drugs, it is probably time for Canada to stop bucking the mammoth demand for and illegal use of recreational/medicinal pot and tax it. It will sure free up a huge chunk of our law enforcement and legal system. Hey, maybe that’s where the labour for all the proposed infrastructure projects will come from.

    These two planks alone pose a huge threat to our friend Stephen in my humble opinion.

    Cheers,

    David

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