Canada on track for $150B in budget deficits over five years, says TD report

OTTAWA—A new analysis by one of Canada’s biggest banks says the federal government could run $150 billion in budget deficits over the next five years.

The TD Bank report, released March 2, also estimates Ottawa’s current fiscal path means it will take more than a decade to bring the budget back into balance—unless the government raises taxes or cuts spending.

h/t Exile

  • JohnfromToronto

    Nobody can be surprised. Governments, and the people who elect them, are addicted to government spending.

  • Spatchcocked

    None of this would be occurring under Harper’s government. “Boy” Trudeau has to be reminded of this at every opportunity….pity we have no professional media class.

    • FactsWillOut

      Harper ran deficits. His government used federal money to “attract women to the transportation sector”, among other things.

      • Harper wasn’t a selfie-taking @$$hole.

        That is one way I could live with him.

      • Alain

        Having a minority government at the time, Harper was forced by the NDP and Liberals to make massive bailouts. While we cannot know if he would have done so otherwise, I suggest it was very unlikely. There were plenty of other areas where he disappointed me even when he had majority, but not this.

        • dance…dancetotheradio

          It’s convenient for Liberals to forget they held a gun to his head.

        • V10_Rob

          Always rich to hear the NDP and Liberals denounce Harper running a deficit to splurge on stimulus pork, when they threatened to bring down the government because he wasn’t spending enough for their tastes.

  • Ron MacDonald

    Typical Canadian election cycle: Liberals drive up the debt voted out of office, Conservatives reduce debt but austerity budgets cause Canadians to vote Liberal.

    • andycanuck

      Plus MSM blowing the Liberals and attacking the Conservatives through the length of both governments.

      • dance…dancetotheradio

        Torstar announced a $234 million dollar loss today according to the Financial Post.
        MSM is shrinking in influence.

        • LauraS

          Good! The Star’s bankruptcy and disappearance can’t happen soon enough. Same goes for all MSM. Bunch of political hacks.

          • BillyHW

            Justine will bail them out.

  • Blacksmith

    What a bunch of posers, only 150bn in 5 years? The purple lipped shitstain does that in a year down here.

  • Liberal Progressive

    There is nothing to worry about, so spend, spend, spend; Budgets balance themselves!

    • k1962

      Yep. Worked for Greece, oh wait…

  • Xavier

    150B? Amateurs.

  • Waffle

    Buy gold — and a good mattress.

  • useless opinion

    So, how do you make your financial move in these waters? I already made mine, but for the regular people, find out every program you can qualify for in terms of free money, and just suck them dry. Get yours before they get your children.

    • mobuyus

      Here’s a tip buy chickens for a dollar and sell them for two, you’ll double your money and become rich.

  • john s

    Bull! I am betting on 200 over five years. There are sure to be some unexpecteds…..

  • “Minor” deficits that people voted for.

    Let them eat debt.

  • mauser 98

    …..from the Rebel
    Every hour Trudeau is skiing or smoking pot is an hour he’s not raising taxes

  • Canadian

    So we`ll just be taxed some more? What a surprise!

  • BillyHW

    Women voters don’t know the difference between a million, a billion, or a trillion. What they care about is how cute their prime minister is.

  • vimy

    the people who voted him in don’t care and are probably glad to hear it. Because they stupid, hence the reason they voted him in

  • Oracle9

    We voted for the heir to the Dynasty. The assets of Canada are now his personal property to dispose of at his whim.