Trudeau Triples Budget Deficit After Campaigning on Fiscal Discipline / Sputnik International

Of interest: recently Trudeau sold off a goodly portion of Canada’s gold. Are the people yet aware of this fact? Did he ever give a reason? Did they know he is Illuminati when they elected him? 

If you believe Trump is the one to elect, I believe you will get similar treatment. Why do so many want to ‘settle’? Why are so many willing to sell yourselves right back into slavery, often tell me he is the best choice? Why? Because he is vulgar and shouts the loudest, saying thing you want to hear? Do you really expect him as a proven free mason to act on your behalf? In my opinion, none of them are a choice, but somehow you seem caught up in the election bread-and-circus and can’t get off the merry-go-round. You continue to give up your power to drama and excitement that should mean NOTHING.

I’m not telling you want to think, but don’t do your homework — and reap the results. ~J

http://sputniknews.com/world/20160224/1035241855/trudeau-triples-budget-deficit-breaking-campaign-promise.html

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Newly elected Prime Minister Justin Trudeau announced on Monday that he will not stand by his campaign promise for austere budget cuts to scale down Canada’s expansive civil society. Trudeau’s administration cites projections for the continued erosion of global oil prices, a trend traced to Chinese economic concerns and Saudi Arabia’s undiminished oil production schedule. Canada, a net energy exporter, fills 18.2% of the US oil demand and has the second largest oil reserves in the world, behind the Saudis.

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Trudeau’s plan calls for the country to run a deficit of 30 billion Canadian dollars, or roughly $22 billion in US currency, in the fiscal year beginning April 1. The deficit represents a tripling of Canada’s current budget deficit and comes only four months after Trudeau won the election on a call for an incremental approach to undoing national austerity, or “fiscal consolidation,” measures. Commentators speculate that Trudeau’s decision, at a time when the Prime Minister’s domestic popularity is higher than ever, will pay off with the electorate, with funds used primarily to fill infrastructural shortfalls.

Nik Nanos, an Ottawa-based pollster, says “It looks like the Liberals want to front load as much bad news as possible in the hope when the election occurs in four years things will be better.” The opposition Conservative Party, however, throws salt in the wound, questioning Trudeau and Liberal Party motives. Rona Ambrose, the Conservative leader, said, “They’re trying to justify breaking a campaign promise by suggesting it’s not their fault,” instead, that of the oil market.

Deficit Spending Needed to Ward Off a Recession?

Justin Trudeau has never been accused of being a fiscal hawk. In the 2015 election Trudeau called for an end of fiscal consolidation, or austerity, advanced in the wake of a recession brought about by then-Prime Minister Stephen Harper’s Conservative-led government. Liberals argued that cutting government spending, at a time when Canadian industry lacked access to capital and had diminished capacity to employ Canada’s workers, only served to stifle the post-recession recovery.

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Trudeau did, however, make three core promises regarding fiscal discipline. First, annual deficits were to be no more than C$10 billion. Second, Trudeau pledged to balance the budget in four years. Finally, Trudeau vowed to reduce the debt-to-GDP ratio every year. These three pledges, known as the “fiscal anchors,” will go unmet according to a Monday statement, by Canada’s Finance Minister Bill Morneau.

Trudeau’s campaign promises were seen as an attempt to bridge the gap with Conservative voters who remembered the free-spending tenure of his father, former Prime Minister Pierre Trudeau, a regime that conservatives state necessitated decades of rehabilitative fiscal consolidation.

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Still, many argue that the concerns over Trudeau’s deficit spending plan are overblown. Canada remains the least indebted country in the Group of Seven and holds a stable AAA rating from the three major Western ratings agencies.

In fact, economists from The Bank of Canada have long decried the extended period of fiscal consolidation on the heels of a recession, at a time when borrowing costs are at historic lows. Kevin Milligan, an economics professor for the University of British Columbia notes that, “it’s important to point out this is not a ‘80s, ‘90s-style deficit interest rate spiral.”

As politics go, opposition leaders and pundits will scream about broken campaign promises, but somewhere in Canada an underemployed construction worker, struggling to make ends meet, just received a glimmer of hope, and maybe soon there will be a paycheck to go along with it.

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14 Responses to Trudeau Triples Budget Deficit After Campaigning on Fiscal Discipline / Sputnik International

  1. Watcher says:

    With Trump…. the dog and pony show gets a good deal more interesting.

    Much disruption of the status quo… these politicians have had 100 years of the same routine over and over… seems as if Trump is destabilizing their security somehow.
    Trump is too close to the Zionists to be very much different than any of the “born to the blood career politicians” that have ruled the roost for the past many decades… however the other side of the coin is Hillary ….. and she is not just more of the same evil, but butt ugly and boring to boot….

    Short of stopping feeding the vampires our blood so they can continue to make their wars, undermine other sovereign nations to exploit their people, and tighten the noose on the necks of the willing victims, there can be no meaningful change ….
    …. so watching is the only game there is.

  2. TONY LANE says:

    during elections we all tend to look for a face changer, and in doing so we are making errors in our judgements of character, that’s okay because we have all done it, like TONY BLAIR and his new labour, and now you have JUSTIN TRUDEAU with his promise to get justice for the native Indians, but it is now tempered with you must not knock ISRAEL, Is it really his opinion or is it blackmail, so while you are waiting for him to change his mind, will those promises made be left on the shelf, and why we all as a people make these errors in our choices, they become very big mistakes when we don’t put them right or at least try to change them, that is why we must not feel or show that whatever we do is futile, because these creatures who have fooled us feed of it, and sometimes it is better to laugh into the face of adversity, because they don’t like it. and there are many game changers that we cant see yet.

    • Jean says:

      I wish I could get people to ‘hear’ this. . . We’ve been led to believe one of them will be a change for the better. . . since when has that happened to us? I think they all must go. . . Then we can start fresh! Hugs, ~Jean

  3. Marilyn says:

    We have been programmed to think that Trump will create jobs and will clear out the dead weight, but there may be people who he also owes favors to waiting for him to return there deeds. He most likely has been involved with some shady people along the way also. This election may never happen and if he is a threat to there establishment, they will see to it, that it never becomes reality. We all do know that they, put the person they want in office.

  4. Frank R says:

    Jean………..

    This is SOOOO obvious to the casual observer. Do you want to know why the American People are ATTRACTED to Trump? Because for the last 70 years Americans have been attracted to or should I say ADDICTED TO ENTERTAINMENT on TV, Games….Computers etc. For them Trump is just more entertainment. They have his mentality and SHOWMANSHIP still brainwashed in their minds……………..you know……….YOUR FIRED!

    They, in their minds, from this brainwashing and TV viewing really believe that he can CLEAN UP the Government and they do not have the CRITICAL THINKING ABILITY to see anything else. They are simply responding to what they have been dog trained to do…………..IT’S SOOO OBVIOUS. For them Mr. “YOUR FIRED” is just the man to go to Washington and CLEAN HOUSE!

    It just makes me want to THROW UP Jean………….I just can’t take much more of this NONSENSICAL THINKING.

    Hugs…………..Frank R

    • Jean says:

      Good thinking, Frank, and much appreciated! Hugs, ~Jean

    • Alex says:

      Frank,

      Trump was asked to run expressly because he is attractive to those addicted to entertainment. He has gained the attention of the mindless masses and they WILL vote for him. Do you think Rand Paul ever stood a chance of getting elected? Do you think that a candidate speaking the truth will get anything from the media other than ignored? Where will those addicted to entertainment, as you say, hear the message? Hasn’t the water of information we drink from been poisoned for so long… what would wake these folks up? Do you want Kim Kardashian to run for president? How about Oprah Winfrey?How about “J-Zee”? Do the icons erected in front of the sleeping entertainment addicted masses offer any way forward? Trump is a can opener being used to open the can of worms. Trump is the front guy backed by the NWO opposition. If he were not backed and protected he would never have ran. Trump won’t be the one leading us into the future WE will. But you have got to get those sleepers awake first. Like it or not… we need them. US… all of us.

      Keep in mind also. Trump isn’t president yet. I think the key to understanding this will come when you watch the mainstream media constantly discredit Trump and watch the establishment desperately try and steal away the nomination for Rubio or anyone else they can put in front of us and get some sort of traction for plausible deniability. Even if they could get Rubio close in numbers to Trump they could hold a brokered convention and steal the nomination from him.

      Not only does Trump need to win… he needs to utterly destroy the establishment candidate so the NWO folks have no chance of pulling some trickery without exposing themselves undeniably.

      So before you get too sick… let me know what you think of what I just said.

      Regards,

      Alex

  5. Marilyn says:

    What is going on in the back round that we are all missing, its almost like Trump is doing a performance for us all. Most elections go the same ole way, we are given big promises but when these people get into office nothing really happens. They don’t have the powers they thought they were getting, something stops them. Now Trump was a democrat, but is running as a republican, and they don’t really want him so things are gonna get weird, especially if he doesn’t get the delegates that he needs. How do you throw out your lead candidate-only in America-LOL! It does show you that there really are no parties there all. Hilliary should of bought him a wedding gift maybe he would of gone easier on her.

    • Jean says:

      Marilyn, don’t you think this is another grand HOAX, playing on Americans desire for change? Both Trump and Sanders are Free Masons, so what can we expect?

      Hugs,
      ~Jean

  6. Marilyn says:

    Yes Jean I think its just a continuation of Trumps show-he seems to love stand up comedy, but we are living in serious times, something is going to change all of this. We really need people worth voting for, which we haven’t been given.

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