According to Trudeau, the deficit for next year will be no more than 400 billion dollars.
The federal budget in 2019 was $358 billion dollars.
In other words, the deficit for the next year will be no more than every penny in the federal budget. Thanks guys.
The federal budget in 2019 was $358 billion dollars.
In other words, the deficit for the next year will be no more than every penny in the federal budget. Thanks guys.
Correction, the actual amount spent for the 2019 budget year was $378 billion. Still less than the amount that they're saying they could go into debt this year.
When Trudeau took office, the federal debt was around $700 billion dollars. He will have a doubled it at least in 4 years.
I know everyone seems to forget this, but even if we don't think we have to pay that back, we do have to pay maintenance. The maintenance on that type of debt is going to be such that major federal programs disappear. Hey did you like your health care? Maybe that'll be gone. Hey do you think National defense really needs to be bolstered right now? Maybe that'll be gone. Hey, do you really like the cbc? Maybe that'll be gone. We're going to be paying way more tax but a lot of stuff's going to have to get cut. Even if you're a leftist you have to realize this doesn't work out well for you. You're going to be selling your soul to the banks.
Seriously, this is entirely predictable. And you idiots are going to be sitting there complaining about how your taxes are too high and the government just cut a bunch of programs that you liked, and you're not going to have any idea why that happened and you're going to be out there protesting when you what you should really be protesting are these massive deficits.
When Trudeau took office, the federal debt was around $700 billion dollars. He will have a doubled it at least in 4 years.
I know everyone seems to forget this, but even if we don't think we have to pay that back, we do have to pay maintenance. The maintenance on that type of debt is going to be such that major federal programs disappear. Hey did you like your health care? Maybe that'll be gone. Hey do you think National defense really needs to be bolstered right now? Maybe that'll be gone. Hey, do you really like the cbc? Maybe that'll be gone. We're going to be paying way more tax but a lot of stuff's going to have to get cut. Even if you're a leftist you have to realize this doesn't work out well for you. You're going to be selling your soul to the banks.
Seriously, this is entirely predictable. And you idiots are going to be sitting there complaining about how your taxes are too high and the government just cut a bunch of programs that you liked, and you're not going to have any idea why that happened and you're going to be out there protesting when you what you should really be protesting are these massive deficits.
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If the left wants to reduce the amount of money that we're sending to rich people, stop falling for the scam salesman who keep telling you that you can get Federal programs without paying for it. You guys hate payday loans so much and yet that's exactly what you're doing with the federal government right now. Don't worry, we're going to give you all this money, at low low price of all the money.
"Oh but interest rates are low right now so we should be borrowing!" That might be true if this were something like a mortgage where you could lock in for a certain period of time so that you were done paying off that loan by the time interest rates rise, but it's not. We still have debt from the second world war! Yes the war bonds expired, and then the government just bought brand new bonds at the current rate. Even if we borrow this money for 30 years which we didn't that just means 30 years from now we're going to buy it again. The interest paid to that goes to bankers.
Not to mention, all this spending and all this money printing guess what happens next? Inflation rises and as a response to higher inflation banks will increase their interest rates. Guess what happens then? That debt that you took out because it was so low rate suddenly resets at a much higher rate. I've said it before, but ask your boomer parents how great it was to have debt in the 1970s.
"Oh but interest rates are low right now so we should be borrowing!" That might be true if this were something like a mortgage where you could lock in for a certain period of time so that you were done paying off that loan by the time interest rates rise, but it's not. We still have debt from the second world war! Yes the war bonds expired, and then the government just bought brand new bonds at the current rate. Even if we borrow this money for 30 years which we didn't that just means 30 years from now we're going to buy it again. The interest paid to that goes to bankers.
Not to mention, all this spending and all this money printing guess what happens next? Inflation rises and as a response to higher inflation banks will increase their interest rates. Guess what happens then? That debt that you took out because it was so low rate suddenly resets at a much higher rate. I've said it before, but ask your boomer parents how great it was to have debt in the 1970s.