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THE PRECIPICE PBO's Stark Warning To Canada · Radio Baloney - The Richie Baloney Show!

• 0:00
  Speaker 1: So there ends up being about one hundred and fifteen
• 0:02
  Speaker 1: billion dollars in that new cost since the last time
• 0:05
  Speaker 1: we've prepared a forecast.
• 0:08
  Speaker 2: This is Jason Jocks. He is the interim Parliamentary Budget Officer.
• 0:13
  Speaker 2: The Parliamentary Budget Officer is a financial expert who's brought
• 0:17
  Speaker 2: in to advise the government. And I'm guessing CARTI is
• 0:22
  Speaker 2: regretting having appointed this guy because he is laying it
• 0:25
  Speaker 2: out in the starkest terms.
• 0:27
  Speaker 1: Let's watch in the report we use, we clearly indicated
• 0:32
  Speaker 1: that based upon the path we're currently on by our estimates,
• 0:37
  Speaker 1: it raises significant concerns with respect to the sustainability of
• 0:40
  Speaker 1: federal finances.
• 0:42
  Speaker 3: What does that mean in Layman's terms?
• 0:44
  Speaker 4: I'm asking because we hear that word a lot from economists,
• 0:47
  Speaker 4: particularly when we're talking about deficits or balanced budgets, you know,
• 0:50
  Speaker 4: and what isn't sustainable when you say that you have
• 0:53
  Speaker 4: concerns about the sustainability of our financial picture here in
• 0:58
  Speaker 4: this country. Like, what in Layman's terms does that mean?
• 1:01
  Speaker 1: I think the like? Certainly from our perspective, we're kind
• 1:05
  Speaker 1: of we're at the precipice, so we haven't gone over
• 1:07
  Speaker 1: the precipice. We're kind of looking out over the cliff
• 1:10
  Speaker 1: at this point, and we're at a point where, based
• 1:13
  Speaker 1: upon our numbers, things cannot continue as they are. And
• 1:17
  Speaker 1: I think everybody knows that.
• 1:19
  Speaker 2: So precipice, looking out over the precipice. Now I'm not
• 1:25
  Speaker 2: an economist, but I'm pretty sure the precipice is bad
• 1:30
  Speaker 2: and looking out over the precipice is also bad. And
• 1:34
  Speaker 2: because this is happening, you know, all the precipice stuff,
• 1:37
  Speaker 2: perhaps that means that Canada is not being run very responsibly,
• 1:42
  Speaker 2: not only for the Trudeau years but for the Cardi
• 1:45
  Speaker 2: time too. Like Cardi right now not running the country responsibly.
• 1:51
  Speaker 4: What's at stake at the precipice, Like if you fall
• 1:54
  Speaker 4: over the cliff, what's there?
• 1:55
  Speaker 3: If you're able to go the other way, what's there?
• 1:58
  Speaker 1: The obviously you don't want to go over the precipice.
• 2:02
  Speaker 3: That's probably what happens though, if you do.
• 2:06
  Speaker 1: Nothing good and nothing good. And I think for parliamentarians
• 2:12
  Speaker 1: and certainly I think all Canadians are very much aware
• 2:15
  Speaker 1: of the challenging economic times that we're in and the
• 2:19
  Speaker 1: fact that we're going to have more challenging times as
• 2:21
  Speaker 1: we go forward.
• 2:23
  Speaker 2: Yeah, I mean what it means is, you know, the
• 2:26
  Speaker 2: whole house of cards that's held up by printing money
• 2:29
  Speaker 2: just falls down. Let's not forget the UK needed an
• 2:32
  Speaker 2: IMF bailout in nineteen seventy six. Countries can need these things.
• 2:36
  Speaker 2: Can I could end up in a position where it
• 2:38
  Speaker 2: needs a bailout and at that point, you know, I'm
• 2:42
  Speaker 2: afraid the lefties are just out of luck because you're
• 2:44
  Speaker 2: getting austerity no matter what. At that point, you get
• 2:47
  Speaker 2: austerity when the money runs out. What did Margaret Thatcher say?
• 2:50
  Speaker 2: Socialism's great until you run out of other people's money.
• 2:53
  Speaker 2: That's what's happening. I'm telling you right now, most the
• 2:57
  Speaker 2: vast majority of Canadians completely blind to this. They have
• 3:00
  Speaker 2: no idea what's happening or the danger that Canada is
• 3:02
  Speaker 2: in non whatsoever. Jasmine Lane posted this here. He is again,
• 3:08
  Speaker 2: Jason Shoux. Let's listen to him. I mean, he's really
• 3:10
  Speaker 2: laying it out in the starkest language possible.
• 3:14
  Speaker 1: We're on the path to being in trouble. So that's
• 3:16
  Speaker 1: what our five year forecast. The numbers that we released
• 3:19
  Speaker 1: earlier this week indicate that if left un change, the
• 3:23
  Speaker 1: fiscal path that the government's currently on will definitely result
• 3:27
  Speaker 1: in us being in quite a bit of trouble and
• 3:29
  Speaker 1: having to make some hard decisions.
• 3:31
  Speaker 2: A big problem is so anytime you get a radical
• 3:34
  Speaker 2: left government like we've had in Canada for the last decade,
• 3:37
  Speaker 2: it's just profly gets spending and economy killing progressive economic policy.
• 3:44
  Speaker 2: So you're left with no room, no wiggle room. Right,
• 3:46
  Speaker 2: so when something like what's been going on with the
• 3:49
  Speaker 2: tariffs happens, you've got no breathing room because every bad
• 3:55
  Speaker 2: decision has been to the max right, So every policy
• 3:58
  Speaker 2: decision has been to arable. You've been maxing out the
• 4:01
  Speaker 2: progressivism and not being able to see beyond your own
• 4:04
  Speaker 2: shadow because it's just spend, spend, spend and buy votes
• 4:09
  Speaker 2: without without a thought to tomorrow. So you've got no
• 4:12
  Speaker 2: wiggle room. There's no no relief, You've you've got no
• 4:17
  Speaker 2: nest egg, You've got nothing right. It's just immediate disaster.
• 4:21
  Speaker 2: And the only thing you can do is what Cartie
• 4:23
  Speaker 2: is doing, which is well, we'll just borrow lots more money.
• 4:26
  Speaker 2: He's a central banker, he knows how to do that. Anyway,
• 4:30
  Speaker 2: That's all I'm gonna say about that. Please like, share
• 4:32
  Speaker 2: and subscribe. Subscribing really helps me out. I thank you
• 4:36
  Speaker 2: for that. I will see you next time.