Tuesday, February 23, 2016

Well, that didn't take long. Pedal to the metal on deficits!

Trudeau The Younger to follow in Elder's footsteps.

With falling oil prices eroding Canada's revenue base, newly elected Prime Minister Justin Trudeau is fully embracing deficits, with his finance minister hinting Monday the country will run a deficit of about C$30 billion ($22 billion) in the fiscal year that starts April 1.It's one of the biggest fiscal swings in the country's history that, in just four months since the Oct. 19 election, has cut loose all the fiscal anchors Trudeau pledged to abide by even as he runs deficits.

Wow. How unexpected.

The Phantom


WiFi Lunchbox Guy said...

Now with Gold-reserve emptying action!


The Phantom said...

Yeah, I'm thinking a condo in the Cayman Islands might be a real good idea. If nothing else you can live by fishing after the USA and Canada both go stony broke.

I sometimes wonder if they're deliberately trying to crash the economy, but then I realize it doesn't really matter. Accidentally or on purpose, she's still heading for the rocks.