Mr. Speaker, it is insane.
The government has already caused the highest inflation in 40 years by doubling the national debt and adding more to our debt than all the other prime ministers in the history of this country combined. He admitted that government spending is increasing the cost of living for ordinary Canadians.
For three years, I have been warning the House of Commons. The so-called experts, including the Governor of the Bank of Canada, former finance minister Bill Morneau and others, have admitted that the government's spending is driving up inflation. The minister herself finally came to that same conclusion. Two weeks ago, she said that she did not want to add fuel to the fire of inflation, so yesterday, we expected the government to introduce a budget that would curb the inflationary spending that is harming ordinary Canadians. What we got was the exact opposite.
The Liberals made four promises, but they broke them all. They said that the debt-to-GDP ratio would decline, but every year, it goes up. They said that the deficits would come down but they are going up. They said that the pandemic debt incurred would be paid down. It has not been and it continues to rise. Finally, they said that the budget would be balanced in 2027. Now, they admit there will never be a balanced budget.
We realize that the government can only give what it has taken. The government has no money. Every cent spent by the government must come from taxpayers. There are three ways to pay for expenditures: through inflation, by printing money; through debt; and through taxes. This government has chosen those three methods.
I am going to share some shocking figures about government expenditures with my colleagues. I would like to thank the official opposition's innovation, science and industry critic, the member for South Shore—St. Margarets, for this data. The budget sets total expenditures for the next five years at a record $3.1 trillion.