PM Useful Idiot will run $18.4B deficit, five times greater than earlier projections

OTTAWA—The federal government is projecting a deficit of at least $18.4 billion next year, a shortfall that’s nearly five times projections from just three months ago and well past the $10-billion limit promised by the Liberals.

When the government unveils its maiden budget on March 22, the deficit could well exceed $20 billion once a number of big-ticket Liberal campaign promises—including infrastructure spending—are factored in.

h/t Exile

  • Exile1981

    I noticed part of the assumptions they made was that oil would be above $40 a barrel all year; since we are at $29 today and have been below 40 since the first of the year… I’d say the deficit will be much worse.

    • Jaedo Drax

      The good news is that Alberta syncrude is currently going for $2.20 over the WTI benchmark. The bad news is that WCS is currently going at a discount of $11 give or take.

      And almost half of our production as near as I can tell is WCS.

  • terrence

    Yeah, but as TrueDOPE said, ” … and the budget will balance itself…”. So, of course, he is not concerned about massively increasing the deficit.

  • k1

    WHAT! Derivative trade is he banking on???! to PAY for THIS!

  • Clink9

    It’s all worth it for the hair. And the fact he’s related to a dead guy that spent Canada into the ground.

  • The only way to save democracy is; 1) two terms and you are out, and 2) no deficit spending.

  • The Butterfly

    Wan’t the budget supposed to balance itself?

  • Gary

    That doesn’t include the REAL price tag for the 200,000 pro-sharia homophobic muslim refugees he now claims that will be coming in during his 1st Term .

  • DD_Austin

    I’d be surprised if it’s only 18.4B, or 20B or 40B
    I expect the real cost will be 150B, a year

  • DavidinNorthBurnaby

    His old man lied like a sidewalk during elections too. Like father, like son, chock full of bovine excreta. The MSM will make sure no-one is reminded of any of this, or anything else Junior lies about either. Deja vu.