The Trudeau government's terrible economic record

[I am Groot]

 

This puts into bald perspective just what a failure Trudeau has been as a financial manager, and the level of debt his government continues to accumulate largely through vote buying and vote buying deals with the NDP to keep itself in power.

Start with program spending. Since taking office, the Trudeau government has greatly increased federal spending (excluding interest costs) from $256.3 billion in 2014-15 (the year before it took office) to $448.2 billion in 2022-23—an increase of 74.9 percent. After adjusting for inflation, the Trudeau government has recorded the five highest years of federal spending per person in Canadian history. Put differently, it has spent significantly more than past governments did during the Second World War or the 2008 financial crisis or other emergencies in the country’s history. Post-COVID levels of spending have still not returned to pre-COVID levels. 

Most of this spending growth has been deficit-financed. The government has recorded eight consecutive deficits and its latest fiscal projections anticipate more deficits for at least the next six years. This deficit spending has come with a big cost. Not only has it led to the accumulation of nearly $1 trillion in new federal debt, but it’s come with rising interest payments that are paid through tax dollars. Federal debt servicing payments currently stand at $46.5 billion in 2023-24 which amounts to more than one in every ten dollars of federal revenue. 

That deals with the Canadian government's  finances but it's handling of the economy has been terrible, as well.

The broadest measure of living standards is GDP per person (adjusted for inflation over time), which calculates the total value of all goods and services produced in the economy in a given year on a per-person basis. In the pre-pandemic period between 2016 and 2019, growth in per-person GDP (inflation-adjusted) was an anemic 0.9 percent. One study in fact found that Canada’s per-person GDP growth from 2013 to 2022 (0.8 percent) was the weakest on record since the 1930s.

Overall, inflation-adjusted GDP per person has only grown by 1.9 percent since 2015.  The United States, by contrast, grew by 14.7 percent during the same timeframe. 

https://thehub.ca/2024-02-03/jake-fuss-the-trudeau-governments-terrible-economic-record-cant-be-brushed-aside/

Edited February 3, 2024 by I am Groot

[Legato]

A little of topic but shows how much the Trudeau government are out of touch.

 

[I am Groot]

Why not add this to the list.

The Liberals have spent over $200 BILLION on climate change initiatives so far. And what good has it all done? Well, they don't really know. What we do know, or think we know, is that emissions continue to rise.

 

EDITORIAL: $200 billion spent on 'climate action’ — for what? | Toronto Sun

[Moonbox]

They haven't spent $200 Billion.  They've committed to spending $200B last year. 

[CdnFox]

The financial devastation will be an anchor on the economy for decades to come, especailly when paired with the excessive levels of immigration we simply cant' absorb

[eyeball]

It sure sounds like we're in pretty good company.

As global debt worries mount, is another crisis brewing?

A surge in government borrowing costs has put high debt in the spotlight, with investors demanding increased compensation to hold long-term bonds and policymakers urging caution on public finances.

Over 80% of the $10 trillion rise in global debt in the first half to a record $307 trillion came from developed economies, the Institute of International Finance says.

https://www.reuters.com/markets/global-debt-worries-mount-is-another-crisis-brewing-2023-10-16/

So what is it with these dumb-ass investors forever throwing good money after bad?  I guess they're banking on another round of world wars to get things back on track. It worked wonders last time didn't it? 

[CdnFox]

1 minute ago, eyeball said:

It sure sounds like we're in pretty good company.

Nope. Nobody else has managed to do this much to themselves.  We're special-stupid.  That's what happens when you have a far left gov't like the lib-ndp

But i love your defense of "wait - i think OTHER people maybe screwed up as bad as we did???"

No, no we screwed up on a pretty individually epic level with the libs and dips at the helm

[eyeball]

14 minutes ago, CdnFox said:

But i love your defense of "wait - i think OTHER people maybe screwed up as bad as we did???"

Yeah, the dumb-ass lenders who keep screwing up by handing over their money. I mean its like they never heard the saying 'a fool and their money....'

[CdnFox]

10 minutes ago, eyeball said:

Yeah, the dumb-ass lenders who keep screwing up by handing over their money. I mean its like they never heard the saying 'a fool and their money....'

Sure. That's the problem.  LOL

[Gaétan]

The Liberal administration is a tragedy, but the solution is not to vote Conservative, but for the Green Party or the NDP, because if the Conservatives are elected, it will be cocktail parties of people who put their money in tax havens, just like the Liberals. The Conservatives may tell you that they are going to cut taxes, but these practices only benefit those who have deep pockets or who can afford insurance

[Nationalist]

1 hour ago, Gaétan said:

The Liberal administration is a tragedy, but the solution is not to vote Conservative, but for the Green Party or the NDP, because if the Conservatives are elected, it will be cocktail parties of people who put their money in tax havens, just like the Liberals. The Conservatives may tell you that they are going to cut taxes, but these practices only benefit those who have deep pockets or who can afford insurance

The Green Party...ROFLMAO!

Surrre...lets pour gasoline on an inferno.