Business
Carney’s plan to balance the budget missing one thing, a plan to balance the budget
The Canadian Taxpayers Federation is criticizing Liberal leadership front-runner Mark Carney’s fiscal plan for having no credible plan to balance the budget or cut spending.
“Carney wants to run on his economic credibility, but he has no credible plan to cut spending or balance the budget,” said Franco Terrazzano, CTF Federal Director. “The next time Carney releases a plan to balance the budget, he should remember to include the plan to balance the budget.”
Today Carney released his “approach to federal budgeting.” Carney’s backgrounder acknowledges “the federal government has been spending too much,” but Carney’s plan does not include a plan to balance the budget or cut spending.
Carney plans to separate the government’s operating and capital budgets.
“A Mark Carney-led government will balance the operating budget in three years,” Carney’s backgrounder states. “At the same time, we will run a small deficit on capital spending.”
“Prime Minister Justin Trudeau told Canadians he would balance the budget after a few small deficits, but instead of balancing the books he ran massive deficits and doubled the debt,” Terrazzano said. “Carney needs to go back to the drawing board and come up with a credible plan to balance the budget and cut spending.”
The federal government ran a $62-billion deficit last year. That’s $20 billion higher than its promised fiscal guardrail.
The Trudeau government doubled the debt in less than a decade. Interest charges on the debt are costing taxpayers $54 billion this year. For context, the government is wasting more money on debt interest charges than it sends to the provinces in health-care transfers.
“A balanced budget means the government stops adding to the debt, but Carney’s plan would continue to rack up debt and waste more money on interest charges,” Terrazzano said. “Carney acknowledges the government has a spending problem and now he needs to find concrete ways to save money, balance the budget and cut the debt.”
From the LifeSiteNews
The work of DOGE is ‘not an optional thing. It is an essential thing,’ Elon Musk said. ‘If we don’t do this, America will go bankrupt.’
At the Trump administration’s first cabinet meeting, Elon Musk said that he’s “taking a lot of flak” for his work with the Department of Government Efficiency (DOGE), adding, “I’m getting a lot of death threats.”
“We simply can’t sustain as a country a two trillion-dollar deficit,” said Musk, explaining why the work of DOGE is so important to the functioning of the country.
“Just the interest on the national debt now exceeds Defense Department spending,” said the tech billionaire. “We spend a lot on the Defense Department, but we’re spending over a trillion dollars on interest. If this continues, the country will become de facto bankrupt.”
Only DOGE can save the US from bankruptcy
Musk said that the work of DOGE is “not an optional thing. It is an essential thing.”
“If we don’t do this, America will go bankrupt,” he emphasized. “That’s why it has to be done.”
“I’m confident at this point … that we can find a trillion dollars in savings,” he said. “That would be roughly 15 percent of the seven trillion-dollar budget.”
“And obviously that can only be done with the support of everyone in this room,” he said to the cabinet secretaries. “And I would like to thank everyone for your support.”
“DOGE is a support function for the president and for the agencies departments to help achieve those savings and to effectively find 15 percent reduction in fraud and waste,” he explained.
The Canadian Taxpayers Federation is criticizing Prime Minister Justin Trudeau for borrowing billions more for high-speed rail between Toronto and Quebec City. The government is running huge deficits and spending hundreds of millions of dollars bailing out its current train company, the last thing taxpayers need is to pay higher debt interest charges for Trudeau’s new train boondoggle.
CTF Federal Director Franco Terrazzano on the News Forum hammering Trudeau’s latest taxpayer boondoggle.
Vatican reports ‘slight improvement’ in Pope Francis’ condition
Did the Liberals Backdoor Ruby Dhalla to Hand Mark Carney the Crown?
Wayne’s World Has Moved South. Canadians Are Appalled. Again.
Andrew Scheer exposes the Mark Carney Canadians should know
-
Energy2 days agoThere is no better time for the Atlantic to follow the Pacific as the next stage of Canadian energy development
-
Bjorn Lomborg1 day agoWe need to get smart about climate
-
Daily Caller2 days agoMigrants Won’t Be Putting Their Feet Up At One NYC Hotel Much Longer
-
Business2 days agoTrump to Counter Foreign Social Media Censorship Demands and Defend Free Speech Online
-
Alberta1 day agoAppointment of Archbishop Smith as the next Archbishop of Vancouver
-
National1 day agoMark Carney’s Shocking Debate Meltdown
-
Agriculture2 days agoHow USAID Assisted the Corporate Takeover of Ukrainian Agriculture
-
Energy2 days agoWhy carbon emissions will fall under Trump