On Parliament Hill

Trudeau Sets Debt Record

  • Ted Falk, Author
  • Member of Parliament, Provencher

Canadian families must live within their means. Governments should have to do the same.

According to the Fraser Institute, with the exception of wartime and those facing major economic downturns, in just four short years Justin Trudeau has added more to the federal debt than any other Prime Minister in Canadian history.

When Justin Trudeau was first elected, he guaranteed a balanced budget by 2019. In fact, he promised a $1 billion surplus – after all, “budgets balance themselves.”

During the Globe & Mail Leaders Debate, Justin Trudeau looked Canadians squarely in the eye and said: “I am looking straight at Canadians and being honest the way I always have. We’ve said we’re committed to balanced budgets and we are. We will balance that budget in 2019.”

After his election, Trudeau doubled down. He told the Canadian Press his promise to balance the budget was “very” set in stone. He went on the state: “I think one of the things Canadians expect is a level of fiscal responsibility that we’ve been able to demonstrate in the past and will certainly demonstrate in the future.”

Four years later, Justin Trudeau has stopped talking about balanced budgets. Four years later and this promise, like so much of what Justin Trudeau says, has been proven to be false.

Justin Trudeau’s promise of modest deficits ballooned into $73 billion of new debt.

Not only did he and the Liberals fail to balance the budget, they missed their deficit projections by a minimum of $10 billion each year, and a whopping $20 billion in 2019 – the year he promised the budget would be balanced by.

His 2019 budget promises another four years of deficits (totaling $56.4 billion) if he is re-elected.

Justin Trudeau’s spending is out of control.

For all that new spending, are you better off than you were four years ago? Has your quality of life improved? Is your community safer? Do you have more money in your pocket at the end of the month?

Most Canadians know the struggle of being in debt. Paying off a car, mortgage, student loan or credit card bill of even a few thousand dollars can seem impossible and hold one’s finances prisoner.

Canada’s national debt currently sits at $692 billion. It increases by $1,000 per second. How much more will an additional $129 billion added to our national debt burden our children and grandchildren’s generations? Canadians cannot afford four more years of Justin Trudeau and the Liberals.

Andrew Scheer and Canada’s Conservatives will strive to balance the budget and get Canada’s finances in order, but we won’t make promises we can’t keep.

What we can promise is this: Unlike the Trudeau Liberals, a Conservative Government will live within its means.

Canadians have to live within their means. Governments should have to do the same.