PBO report shows massive deficits for years to come

From the Canadian Taxpayers Federation

The Canadian Taxpayers Federation is calling on the federal government to rein in spending and balance the budget following today’s Parliamentary Budget Officer report.

“PBO numbers show the government is running massive deficits for years to come with no plan to balance the budget,” said Franco Terrazzano, CTF Federal Director. “It’s time for Prime Minister Justin Trudeau to listen to the PBO’s warnings, put down the credit card, pick up some scissors and return to fiscal sanity.”

The PBO forecasts a $41 billion deficit in 2024.

“Compared to our October outlook, we are projecting budgetary deficits that are $7.9 billion higher, on average, over 2023-24 to 2028-29,” according to the PBO. “This increase is largely due to upward revisions to our projection of direct program expenses (including new measures).”

The PBO projects interest charges on the debt will cost taxpayers $52.1 billion. That’s equal to the amount the federal government sends to the provinces through health transfers. In 2028, interest charges will cost $62 billion, which is more than the government expects to collect through its GST.

Despite Finance Minister Chrystia Freeland’s commitment to reduce debt-to-GDP, the PBO report forecasts the ratio to increase slightly from to 42.4 to 42.5 per cent in 2024.

In its last budget, the government said it would find “savings of $15.4 billion over the next five years.” However, the PBO shows spending increasing by almost $20 billion in 2024.

“This government’s spending is out of control,” Terrazzano said. “In the upcoming budget, Trudeau and Freeland need to show Canadians that they care about the state of the country’s finances and balance the books.”

The federal government will present its 2024 budget on April 16.

Up Next

Why Wind and Solar Make Our Power Grid Less Reliable

Don't Miss

Canadian journalists say Trudeau gov’t payouts are hurting mainstream media credibility

Todayville

Todayville is a digital media and technology company. We profile unique stories and events in our community. Register and promote your community event for free.

Follow Author

California’s soaring electricity rates strain consumers, impact climate goals

Crime / 2 hours ago

Former UK MP says ‘nothing was done’ with child trafficking information given to police, MI5

National / 5 hours ago

Chrystia Freeland’s WEF page deleted after she announces bid to replace Trudeau

National

Chrystia Freeland’s WEF page deleted after she announces bid to replace Trudeau

Published on January 21, 2025

Todayville

From LifeSiteNews

By Clare Marie Merkowsky

Around the same time Chrystia Freeland announced she is running to replace Trudeau as leader of the Liberal Party, citizens noticed that her World Economic Forum page has been deleted from the globalist group’s website.

Former finance minister and deputy prime minister Chrystia Freeland’s World Economic Forum (WEF) page has been deleted around the same time she announced her bid for leadership of the Liberal Party.

On January 19, Freeland, who recently resigned from Prime Minister Justin Trudeau’s cabinet, announced that she would run for Liberal leader now that Trudeau says he is stepping down. Around this time, the WEF’s profile on Freeland was taken down from their website.

“Sorry, but we can’t find the page you were looking for,” the page now says after clicking on the link which originally brought users to Freeland’s WEF profile. The page is still viewable via the internet archive, which notes that she is on the Board of Trustees for the globalist group best known for its infamous “Great Reset” agenda.

In addition to the WEF page being deleted, the majority of Freeland’s Instagram posts have been removed from public view.

Many have speculated online as to the reason why these actions were taken, with some suggesting that Freeland desires to distance herself from the massively criticized group.

Critics often pointed to Freeland’s association with the group during her tenure as finance minister and deputy prime minister, as she was known for pushing policies endorsed by the globalist organization, such as the carbon tax and online censorship.

Freeland’s ties to the WEF seem extensive, with her receiving a personal commendation from former WEF leader Klaus Schwab.

Freeland is perhaps best known internationally for her heavy-handed response to anti-mandate Freedom Convoy protesters, which saw the then-finance minister direct financial institutions to freeze the bank accounts of Canadians who participated in or donated to the protest.

One of Freeland’s main opponents in the Liberal leadership race, Mark Carney, also has ties to the WEF, and has similarly come under fire from critics for pushing their globalist agenda.

National

Poilievre calls likely Trudeau replacement Mark Carney the World Economic Forum’s ‘golden boy’

Published on January 21, 2025

Todayville

From LifeSiteNews

By Anthony Murdoch

‘He is the golden boy of the World Economic Forum and he will be a disaster if he ever gets anywhere close to power’

The leader of Canada’s Conservative Party, Pierre Poilievre, had choice words for Liberal leadership candidate Mark Carney’s ties to global elites, calling him out as the “golden boy” for the World Economic Forum.

“He is the golden boy of the World Economic Forum and he will be a disaster if he ever gets anywhere close to power,” Polievre said in a video posted to X on Monday.

Poilievre added that the reason “we know” Carney will be a “disaster” is that “he has been Justin Trudeau’s personal economic advisor” for years.

“If you think that Justin Trudeau has done a bad job on the economy, you know who’s been pulling his strings,” the Conservative Party leader added.

“Carbon tax Carney. They’re both [Carney and Chrystia Freeland] … just like Justin, and that’s why we need a carbon tax election to fire them all and bring home a common-sense Conservative government,” he said.

As referenced by Poilievere, Carney has worked closely with the WEF for years, in addition to serving in top roles as a central banker in both England and Canada.

The banker has also endorsed the carbon tax and even criticized Trudeau when he exempted home heating oil from the tax. 

The Liberal Party of Canada will choose its next leader, who will automatically become prime minister, on March 9, after Trudeau announced that he plans to step down as Liberal Party leader once a new leader has been chosen.

Just last week, Carney drew headlines after no less than four journalists from independent media were forcefully barred from attending his Liberal Party leadership candidacy press conference.