Canada Budget 2021: Liberals Double-Down On Money Printing & Debt

DM

As always, ‘temporary emergency spending’ becomes permanent at the behest of politicians. Historically, Canada has been a nation with low taxes, an entrepreneurial and ambitious frontier-spirit, and a recognition that limits on the power of the state are essential. That history is being lost. In its place, is a massive expansion of government spending and government power, at the expense of individual freedom, community initiative, and our financial future. Here’s how Pierre Poilievre described it on Twitter: “TRUDEAU BUDGET: Government debt smashes through 100% of GDP. The highest ever. Today Trudeau will lock in permanently high deficits paid with printed $. Back to the future. When his dad did this in early 80s: Inflation: 12%; Unemployment: 12% (record); Interest rates: 18% (record); Suicide rate: 14.8/100k (record); 650k more ppl in poverty.” Of course, the Liberals put a different spin on it, saying the budget is about fighting COVID, getting out of the COVID recession, and building a ‘more resilient Canada.’ The government has also been contradicting themselves, simultaneously claiming the economy is roaring back, while saying their massive stimulus spending is needed.

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