Canada - Trudeau gov. National deficit may reach $150 billion: TD

Canada - Trudeau gov. National deficit may reach $150 billion: TD. (TD).HT Cijnews.

TD’s new analysis suggests that the federal government is too optimistic in its economic projections, and specifically regarding its ability to keep a low level of deficit.

Finance Minister Bill Morneau announced on February 23, 2016 that the federal will run larger than expected deficits over two years. According to Morneau, the 2016-2017 deficit will be $18.4-billion and $15.5-billion for 2017-2018.

According to TD’s report (March 1, 2016), which re-calculated the projected path of deficits to include our consensus assumptions on economic growth and extended the forecast horizon to 5 years, the deficits will rise to around $30 billion per year (1.5% of GDP), or a cumulative $150 billion through fiscal year 2020/21.

“Even excluding the amount set aside for prudence, cumulative deficits are likely to reach nearly $120 billion,” the report reads.

“The persistence of the deficits over the medium term largely reflects our downgraded view of Canada’s economic growth rate. Although projected revenue gains are likely to surpass those of spending by a slim margin, the large size of initial deficits means it will take some time to restore balance.

Indeed, without tax increases or adjustments to the profile of spending, it would take more than a decade for the budget to return to balance.” Read the TD finanancial report here.

Video - Canada's Liberals - 'LIGHT AND BEAUTY' IN TERRORISTS?

Video - Trudeau 'Putting a Price on Carbon'....because there are NO free handouts.

Hmmmm.....Because, all these 'Liberal, Free handouts have to be paid in the end........by you!

Video - Trudeau the radical

Hmmm......The Canuck version of Obama.HT: SunNews.

Video - Iran’s useful idiot....No it's not that One.

Sayeh Hassan, lawyer and activist, joins Ezra Levant to speak about Justin Trudeau’s suggestion that Canada should re-engage with the dangerous Iranian regime. HT: Ezra Levant - Sun News Network.

Canadian PM Harper Jabs Justin Trudeau a.k.a 'The Canuck version of Obama' On Terrorism In Wake Of Boston Bombings.

Canadian PM Harper Jabs Justin Trudeau a.k.a 'The Canuck version of Obama' On Terrorism In Wake Of Boston Bombings.(HP).

LONDON - Terrorist attacks like the one that killed three people at the Boston Marathon should prompt manhunts, not soul searching, Prime Minister Stephen Harper said Wednesday in a thinly veiled jab at his new Liberal rival.

"When you see this type of violent act, you do not sit around trying to rationalize it or make excuses for it or figure out its root causes," Harper said before leaving London after attending Margaret Thatcher's funeral.

"You condemn it categorically, and to the extent you can deal with the perpetrators, you deal with them as harshly as possible."

Harper's comments appeared to be a direct rebuttal to a CBC interview with Justin Trudeau, in which the Liberal leader said examining the causes of terrorist attacks are important amid the security response.

Dr.Sigmund Fraud: "We have to look at the root causes," Trudeau said. "Now, we don’t know now if it was terrorism or a single crazy or a domestic issue or a foreign issue.

"But there is no question that this happened because there is someone who feels completely excluded. Completely at war with innocents. At war with a society. And our approach has to be, where do those tensions come from?" "I expressed clearly yesterday and today the shock that I can only imagine that father feels whose son was killed for wanting to give him a hug," Trudeau said Wednesday in response to Harper's criticism.

I really hope that Mr. Harper rethinks the extent and the lengths he's willing to go to personally attack people and to politicize tragedies like that."

Hmmmm.....Apparently, whoever's responsible didn't get nearly enough hugs and participation trophies from "society."....You know a Liberal when you hear one.Read the full story here.