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The cause for alarm here, in the famous words of Margaret Thatcher, is that: “The problem with socialism is that you eventually run out of other people’s money.”
Asked by Huffington Post if Canadians should hold the NDP responsible if this year’s federal deficit, already projected at $343 billion, climbs above $400 billion, Singh replied: If the response has been more compassionate and caring and left less people behind, you can thank New Democrats for that.”
In the real world, if governments could continually run huge deficits while paving the streets with gold, they would have done it by now.
As reported by Bloomberg News, Fitch Ratings, has already downgraded Canada’s credit rating in light of Trudeau’s spending plans.
While Moody’s Investors Service, S&P Global Ratings and DBRS have kept Canada’s debt at their highest rating, they’re going to have questions about a big-spending Liberal government driven by a bigger spending NDP opposition.
Operating as if he has a majority government for the next three years is not what Canadians collectively voted for last year when they reduced Trudeau’s majority government to a minority.
But now it could be the reality for the next three, with an NDP tail wagging the Liberal dog.