Margaret Thatcher warned decades ago that the biggest problem with socialism is that you always run out of other people’s money. Looks like Canadians didn’t remember that when they elected their socialist leader last year.
Weasel Zippers reports via CNews:
The National Bank says the country’s fading economic prospects could put the federal government on track to run $90 billion in deficits over the Liberals’ four-year mandate.
In a report, the bank predicts the public books will sink deeper into the red due to the combination of a weakened economy and Liberal promises of billions in fiscal stimulus.
Report author Warren Lovely says if the bank’s downgraded growth profile comes to pass then Ottawa could lose $50 billion in revenue over the next four years.
The Liberals have pledged to run deficits in the coming years in order to spend $17.4 billion over its first mandate on infrastructure projects — which they predict will create jobs and generate economic growth.
Let this be a warning for all of the insane Bernie supporters.
Image: (Source)
