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higher debt!

Governments get money from taxpayers.

They then spend it on public services.

They then spend it on public services.

When governments spend more than they take in, they run deficits.

When those deficits go unpaid, governments accumulate debt.

When those deficits go unpaid, governments accumulate debt.

Too much debt results in tax hikes and cuts to services.

The current federal Liberal government in Canada is running deficits through to 2045!

The current federal Liberal government in Canada is running deficits through to 2045!

Their spending is out of control.

Debt is accumulating, taxes are going up, yet they just keep spending.

Debt is accumulating, taxes are going up, yet they just keep spending.

Amount of federal debt each Canadian is born with.

Details

Via the 2018 budget document: 2017/2018 federal debt: $651.5 billion

Via Statistics Canada: Quarterly population estimate: 37,067,011

651,500,000,000 / 37,067,011 = $17,576.28

See also the Canadian Taxpayer Federation’s Debt Clock, which tallies a comparable $17,788.28.

The year in which the deficit will be eliminated

Details

In 2015, Justin Trudeau promised Canadians that we would only have “modest” deficits of “only” $10 billion per year, and he would balance the federal budget by the end of his mandate in 2019/20.

Instead, he immediately tripled that deficit forecast, and he abandoned his promise to balance the federal budget by 2019/20.

The next year, Finance Canada released its 2016 long-term economic and fiscal forecast, which showed that we would have deficits until 2050. This would triple our current debt levels to $1.5 trillion by 2050.

The latest report from Trudeau’s own finance department showed that Canada would have deficits until 2045.

These additional deficits will add $450 billion to Canada’s national debt over the next 27 years.

That’s 27 years of broken promises, and 27 years of tax hikes on Canadian families.

A recent history of Canada’s budgetary deficit.

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