Mr. Speaker, yesterday, the Prime Minister proclaimed himself a fiscal and policy expert and promised Canadians that Canada would have a “declining level of debt.” However, another expert, the Parliamentary Budget Officer, instead warned Canadians that “the deficit will absolutely” increase because of “additional spending.” Now one does not have to be an expert, let alone a self-proclaimed expert, to know that more spending means more debt, and more debt means higher housing inflation, higher food inflation and harder times for Canadians. The budget watchdog went on to warn that “it's impossible...to assess the likelihood” that the government will meet any of its fiscal anchors.
Justin Trudeau's deficit was $46 billion. In the election, the Liberals promised it would only be $62 billion. Now BMO says it might be $80 billion, and the C.D. Howe Institute estimates it could be $92 billion.
Canadians deserve to know how high the deficit will go before the November 4 budget.