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Canada Debt Catastrophe- MASSIVE $92 Billion Deficit Under Mark Carney Liberals · Radio Baloney - The Richie Baloney Show!

• 0:03
  Speaker 1: He's supposed to be this button down moderate, this economic genius,
• 0:07
  Speaker 1: this Oxford economist, he really knows what he's doing. No,
• 0:10
  Speaker 1: but he knows more about economics than Mark Carney. Will
• 0:13
  Speaker 1: Let's see, federal budget projected to sore to ninety two
• 0:16
  Speaker 1: billion this year. Unfair to pass these burdens on CD
• 0:21
  Speaker 1: how Institute says. So before we go into that, let's
• 0:24
  Speaker 1: just take a look at previous deficits actually under Trudeau.
• 0:28
  Speaker 1: So actually, if we go back to the Harper years,
• 0:31
  Speaker 1: the Conservative years, you can see you can see much
• 0:34
  Speaker 1: more modest deficits when they occurred. So you can see
• 0:37
  Speaker 1: actually in two thousand and five, two thousand and six
• 0:39
  Speaker 1: thirteen billion surplus, at two thousand and six, two thousand
• 0:44
  Speaker 1: and seven thirteen surplus, nine surplus. You see the economic
• 0:47
  Speaker 1: crash two thousand and eight, two thousand and nine, he
• 0:49
  Speaker 1: had a modest five point eight billion deficit, modest by
• 0:53
  Speaker 1: today's standards, nine ten fifty five billion deficit. Again, the
• 0:59
  Speaker 1: financial cursh very modest considered considering what was to come
• 1:05
  Speaker 1: twenty ten, eleven thirty three. You can see that in
• 1:08
  Speaker 1: the years after under the Conservative government, the deficit coming
• 1:12
  Speaker 1: down than being responsible and then actually ending up with
• 1:16
  Speaker 1: a surplus in the last year, one point ninety modest surplus.
• 1:20
  Speaker 1: So what happens with Trudeau? You get, I get a
• 1:25
  Speaker 1: modest deficit twenty fifteen sixteen one billion, go straight up
• 1:30
  Speaker 1: to seventeen nineteen fourteen thirty nine, three hundred and twenty
• 1:34
  Speaker 1: seven billion twenty twenty twenty one. Yes, I know, we
• 1:39
  Speaker 1: all know what was happening that year, but we didn't
• 1:43
  Speaker 1: have to do it like Sweden didn't go in freaking insane.
• 1:48
  Speaker 1: We didn't have to double our national debt twenty twenty one,
• 1:52
  Speaker 1: twenty two ninety billion, twenty two, twenty three, twenty seven
• 1:59
  Speaker 1: point twenty five point seven deficit before net ectuarial losses
• 2:06
  Speaker 1: twenty three twenty four to sixty one point nine, which
• 2:09
  Speaker 1: was above we're supposed to be so just reckless spending obviously,
• 2:14
  Speaker 1: right Kearney, the button down moderate ninety two billion, just
• 2:21
  Speaker 1: ninety two billion now because crisis or something, there's that
• 2:26
  Speaker 1: button down, moderate that economic genius only ninety two billion,
• 2:30
  Speaker 1: by the way, that said double what it was projected
• 2:33
  Speaker 1: to be four months ago. Four months ago. You wonder
• 2:37
  Speaker 1: why we're not getting a budget. This is why, this
• 2:40
  Speaker 1: is why we're not getting a budget because it's out
• 2:43
  Speaker 1: of control. The Turney government is poised to post a
• 2:46
  Speaker 1: massive deficit of more than ninety two billion during this
• 2:51
  Speaker 1: fiscal year. A new report from a well respected financial
• 2:55
  Speaker 1: think tank projects almost double what was forecast just a
• 3:00
  Speaker 1: few months ago by a nonpartisan arm of the government.
• 3:04
  Speaker 1: The report from cd HOW Institute also forecast deficits of
• 3:09
  Speaker 1: more than seventy seven billion a year over the next
• 3:13
  Speaker 1: four years, also huge increases over what had been expected.
• 3:18
  Speaker 1: Just right, Trudeau doubled. Trudeau doubled the national debt right
• 3:24
  Speaker 1: in his time. But you go back, I mean his
• 3:28
  Speaker 1: his deficits were actually fairly, fairly moderate compared to Mark
• 3:32
  Speaker 1: Kearney's most years, right, I mean ninety two billion. Okay,
• 3:37
  Speaker 1: we're he says, what, there's a crisis, but is it.
• 3:40
  Speaker 1: We're not in pandemic crisis mode. We're not you know,
• 3:44
  Speaker 1: global economic collapse crisis mode, not like you know, two
• 3:48
  Speaker 1: thousand and eight. It's not like a twenty twenty right now,
• 3:52
  Speaker 1: this is just insane. It's widely accepted that Canada's economy
• 3:56
  Speaker 1: is at a critical crossroads. The cd HOW economists right,
• 4:00
  Speaker 1: so are Canada's finances beyond the economic drag of high deficits,
• 4:05
  Speaker 1: high deficits and rising debt. It is unfair to pass
• 4:09
  Speaker 1: these burdens onto the current, young and future generations. If
• 4:14
  Speaker 1: anybody's wondering why you've got twenty plus hour waits at
• 4:18
  Speaker 1: the emergency rooms. Now, I've said this a million times
• 4:21
  Speaker 1: in the shuttle. I'll keep saying it right now, before
• 4:24
  Speaker 1: these new debts turn, before these new deficits turn into
• 4:27
  Speaker 1: interest on the debt, right now, before Carney's deficits. Right,
• 4:33
  Speaker 1: we're spending morere servicing the interest on the national debt
• 4:36
  Speaker 1: in Canada than is given out in transfer payments for
• 4:39
  Speaker 1: healthcare to the provinces by the government. Okay, that's not sustainable,
• 4:45
  Speaker 1: Not when you've got universal healthcare. That's crazy, Mark Kearney.
• 4:50
  Speaker 1: The button down, moderate, the economic genius is making this worse,
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  Speaker 1: not just a little bit, a lot worse than just
• 5:00
  Speaker 1: In Trudeau. I have been saying all along, ever since
• 5:03
  Speaker 1: he first decided to parachute back into Canada, right before
• 5:07
  Speaker 1: the last election, that Carney was going to be Trudeau,
• 5:11
  Speaker 1: but Trudeau on steroids. It's going to be Turbo Trudeau.
• 5:16
  Speaker 1: Mark Carney had been advising Justin Trudeau since twenty twenty.
• 5:21
  Speaker 1: All right, you might as well just consider Trudeau to
• 5:23
  Speaker 1: be his protege. He was doing what Mark Carney said. Now,
• 5:27
  Speaker 1: Mark Carney's got the reins himself. I said it was
• 5:31
  Speaker 1: going to be turbo Trudeau, and it looks like, very sadly,
• 5:35
  Speaker 1: very sadly, I was correct. But the most recent federal
• 5:40
  Speaker 1: budget was now well over a year ago. The government
• 5:43
  Speaker 1: took the highly unusual step this year of waiting until
• 5:46
  Speaker 1: the fall to release its annual budget more than halfway
• 5:49
  Speaker 1: through the fiscal year. Yes, they're doing that to hide
• 5:53
  Speaker 1: it because they know at least some Canadians, the Canadians
• 5:57
  Speaker 1: that are paying attention and aren't totally brain washed at
• 6:00
  Speaker 1: this point, are going to go Hold on a second,
• 6:02
  Speaker 1: this is bad. This is turbo Trudeau. The cd HOW
• 6:07
  Speaker 1: report criticizes the government's decision to wait until the fiscal
• 6:10
  Speaker 1: year is more than half over before releasing its budget. Quote,
• 6:14
  Speaker 1: delaying a budget until the fiscal year is more than
• 6:17
  Speaker 1: half over is never good, but Canada's current high spending,
• 6:22
  Speaker 1: high spending trajectory makes this delay especially bad. Geesus almost
• 6:28
  Speaker 1: like this whole thing could get completely out of hand
• 6:30
  Speaker 1: before anybody even realizes what's going on, which is exactly
• 6:34
  Speaker 1: what's going to happen by design. The report also criticizes
• 6:38
  Speaker 1: the government's plan to separate its operating at capital spending.
• 6:42
  Speaker 1: We've talked about this on the channel before. This childish
• 6:46
  Speaker 1: sleight of hand that Mark current, this trick that Mark
• 6:50
  Speaker 1: Kearney is trying to use to say to separating the
• 6:53
  Speaker 1: budget into two different parts. This is a new thing
• 6:57
  Speaker 1: he wants to do. So the operating budget the money
• 6:59
  Speaker 1: just the government going, and then the investments. He's calling
• 7:04
  Speaker 1: it the investments. So this is the money, the subsidies
• 7:08
  Speaker 1: he's going to be handing over to a bunch of
• 7:10
  Speaker 1: green boondoggles, like the fifty billion dollars that Trudeau gave
• 7:14
  Speaker 1: for EV plants, EV battery plants, cricket farms, all kinds
• 7:19
  Speaker 1: of different things that came to nothing, that just came
• 7:22
  Speaker 1: to tears. So he wants to separate that these massive
• 7:25
  Speaker 1: wastes of money from the budget and claimed that that's
• 7:29
  Speaker 1: not the budget. Mark Karney did not overestimate the sophistication
• 7:37
  Speaker 1: of the Canadian voter, and he was correct not to
• 7:41
  Speaker 1: because it worked. I mean, that's the sad truth. Elbows
• 7:44
  Speaker 1: up worked. This lowest common denominator political strategy worked. You know,
• 7:50
  Speaker 1: these sophisticated, discerning voters. When they were told by Rosemary
• 7:55
  Speaker 1: Barton's teleprompter to put their elbows up and do their
• 7:58
  Speaker 1: chicken dance in front of the tea in their living room,
• 8:01
  Speaker 1: they did it anyway. It's all crazy. This is just
• 8:07
  Speaker 1: not going to end well, not going to end well.
• 8:09
  Speaker 1: This global is hob goblin, globalist hob goblin. You know
• 8:14
  Speaker 1: what he was asked about, where he's going to get
• 8:17
  Speaker 1: all the money to pay for all the insane stuff?
• 8:19
  Speaker 1: What did he say, let's see.
• 8:22
  Speaker 2: Thank you.
• 8:22
  Speaker 3: My other question, I'll try about fastest question for about
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  Speaker 3: the commitment two hundreds of billions of dollars community you've
• 8:31
  Speaker 3: made today. The polished budget also told us that implies
• 8:34
  Speaker 3: high deficits unless you either raise taxes or cut major
• 8:37
  Speaker 3: projects cecial spending.
• 8:39
  Speaker 4: So do you agree with him? And if so, how high?
• 8:42
  Speaker 4: And why is he rolling his eyes there? Why is
• 8:45
  Speaker 4: he rolling his eyes there?
• 8:47
  Speaker 2: Will grow? This economy will grow, This economy will balance
• 8:51
  Speaker 2: our operational budget in three years. That's our commitment. But
• 8:53
  Speaker 2: we will also invest in this country, including in our
• 8:58
  Speaker 2: defense industry.
• 8:59
  Speaker 4: Thank you. This country being Canada not Oh, oh.
• 9:02
  Speaker 1: Well, he's going to grow the economy, so no worries.
• 9:04
  Speaker 1: I guess he just says that. He just said he's
• 9:07
  Speaker 1: going to grow the economy. So I guess that's enough.
• 9:09
  Speaker 1: That's enough for everybody. I want to watch that he
• 9:13
  Speaker 1: in hold on one.
• 9:14
  Speaker 3: Second about the commitment two hundreds of billions of dollars
• 9:19
  Speaker 3: commulative you've made today. The Parliamentry Budget Officer told us
• 9:23
  Speaker 3: that implies high deficits unless you either raise taxes or
• 9:26
  Speaker 3: cut major projects social spending. So do you agree with him?
• 9:30
  Speaker 4: And if so, why is he rolling his eyes there?
• 9:34
  Speaker 1: The Parliamentary Budget officer like, it's He's not from some
• 9:38
  Speaker 1: right wing some far right right wing blog. Right, it's
• 9:42
  Speaker 1: a parliamentary budget off. Why is he rolling his eyes there?
• 9:45
  Speaker 1: It's just this imperiousness, this arrogance, this narcissism from this man.
• 9:50
  Speaker 1: He's the only one who understands. Right, everybody's crazy. He
• 9:54
  Speaker 1: rolls his eyes. Why is he rolling his eyes again?
• 9:57
  Speaker 1: Let's see, people are concerned because of a ninety two
• 10:00
  Speaker 1: billion dollar deficit. Right, the national debt has been doubled
• 10:05
  Speaker 1: over the last ten years.
• 10:07
  Speaker 4: Why is he rolling his eyes? Why is he doing that?
• 10:11
  Speaker 4: I think This is I personally think this is totally inappropriate.
• 10:16
  Speaker 4: What do you think how high and that to GDP ratio?
• 10:19
  Speaker 4: Are you willing to run?
• 10:20
  Speaker 1: Well, not to worry, though, he's gonna, he's gonna, he's
• 10:23
  Speaker 1: gonna explain everything right now.
• 10:26
  Speaker 2: We will grow this economy, will uh will grow this economy,
• 10:31
  Speaker 2: will balance our operational budget, and.
• 10:33
  Speaker 4: Nothing to worry about.
• 10:33
  Speaker 1: He's going to grow the economy because he just says that,
• 10:37
  Speaker 1: and he's gonna balance the operational budget. This is the
• 10:41
  Speaker 1: sleight of hand we've been talking about. Okay, but what
• 10:44
  Speaker 1: about the rest of the spending. What about because that's
• 10:47
  Speaker 1: actually part of the deficit too. That's actually real money
• 10:50
  Speaker 1: that we don't have, that's gonna have to be borrowed,
• 10:53
  Speaker 1: printed whatever. Right, that's real money that Canada doesn't have,
• 10:58
  Speaker 1: and we're gonna have to pay interest on that money
• 11:01
  Speaker 1: to get the money. Interest we can't afford to pay
• 11:04
  Speaker 1: right now when we're paying eight billion dollars a month already.
• 11:08
  Speaker 1: It's just it's it's almost hard to believe that this
• 11:13
  Speaker 1: man became Prime minister and he stands in front of
• 11:18
  Speaker 1: the press and says this, it will be hard to believe. Actually,
• 11:21
  Speaker 1: if he didn't have such a pliant press actually to
• 11:25
  Speaker 1: deal with, who's not really going to call him out.
• 11:28
  Speaker 1: It's all going to be very soft touch, very soft touch.
• 11:33
  Speaker 1: It's a very sympathetic press because well, I mean, he's
• 11:37
  Speaker 1: gonna give them money, so why shouldn't they be sympathetic,
• 11:40
  Speaker 1: I guess. Anyway, that's all I'm gonna say about that.
• 11:43
  Speaker 1: Please like, share and subscribe. Subscribing really helps me out.
• 11:47
  Speaker 4: I thank you for that. I will see you next time.