Today's discussion:

Where’s the prudence? Freeland bets big on soft-landing fiscal plan

There’s just enough in recent economic data to keep Trudeau and his finance minister, Chrystia Freeland, hopeful that a deep downturn will never come. It’s hard to overstate how much Trudeau and Freeland are invested in that soft-landing scenario. Their political futures hinge on it.

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Comments (22)

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The Hub Staff

Thank you for contributing to Hub Forum. Be sure to check out The Hub’s initial reaction to the fall economic statement: https://thehub.ca/2023-11-22/trudeaus-political-problem-is-bigger-than-his-debt-problem-the-hub-reacts-to-the-fall-economic-statement/

4th December 2023 at 2:55 pm
Gary Oxenforth

The highest accumulated debt ,the highest interest rates in decades and inflated food prices along with the economic carbon tax.Lets hope a new government can turn things around soon.

4th December 2023 at 7:43 am
Michael F

Text book example of Dunning-Kruger. You can’t compose a grammatically correct sentence yet you believe you can weigh in on complex economic issues.

4th December 2023 at 8:59 am
Kim Morton

I take it you are referring to yourself.

4th December 2023 at 10:36 am
RJKWells

‘Escalated commitment towards a failing course of action’ sums up the fall fiscal update delivered by finance minister Chrystia Freeland last month. As the Chrétien Government found out in 1993, you can’t keep spending what you don’t have. Eventually the drinks stop flowing as you’re handed the bar tab, and the spending hangover begins.

It’s sheer folly for the Liberals to think they can cross their fingers and abound in hope that if they just simply hang in there, this looming debt crisis of their making will somehow fix itself. Despite their better wishes, that day of reckoning is coming – sooner than they would like to think.

4th December 2023 at 7:50 am
Michael F

Intellectual dishonesty. Did you honestly expect the feds to sit on the sidelines during the pandemic? This government had little choice but to open the cheque book during the pandemic.

4th December 2023 at 9:02 am
Karen Quinton

PMJT did this before the pandemic was even an issue – within the first week or so. Trudeau was absolutely gleeful to be able to hand out large sums of money, and the attitude and motivation seemed obvious to me. People generally could have managed at least a couple of weeks of their lives without government help; I feel we were even disrespected and insulted by being treated like paupers. Yes, where there was real hardship, but this general largesse was way too early and in many cases, unnecessary. And it turned out the organization of the dispensation of funds was careless.

4th December 2023 at 11:12 am
LETuff

You are so right. I don’t know how people earning Over $70,000 and employed still
received a check. This I heard on a news cast.

4th December 2023 at 7:57 pm
RJKWells

The Prime Minister’s defenders seem to pile on the excuses for him to the same extent that he continues to pile on debt to Canadians. They overlook or are blind to the reality that we’re now paying more to service our debt costs than what Ottawa transfers to the provinces for healthcare.

We have a problem, Michael.

4th December 2023 at 11:47 am
Michael F

Yes we have a debt problem with interest rates where they are. Economists are already predicting rates will start fallling in the first or second quarter of 2024. Servicing costs will come down with rate decreases. It’s not like this government wanted to spend that money. They had to.

4th December 2023 at 1:09 pm
Dauna Crooks

Given the issues this government has faced- pandemic, Trump, BOC rates, support for Ukraine, supply issues, India’s reaction to killing of a Sikh and corporate greed, I am surprised that we might get through this at all. All governments have run deficits, most have not posted fully what the issues are. Provincial premiers have not helped in the least
By misallocating money sent to them- example of Covid funds sent to Ontario.
I cannot see the Conservative contender who has no plan at all, being the saviour here.

4th December 2023 at 9:59 am
Richard Courtemanche

It’s worrying what the two WEF mentees are doing and not only with our money.

4th December 2023 at 12:25 pm
Kim Morton

I suppose if one lives east of Manitoba, or are one of the hundreds of thousands of redundant government employees or party faithful contractors, the Liberals don’t look too bad. In the real world, they are a disaster. I can’t even count all the bad financial decisions, never mind the lies from both Trudeau and Freedland. Their biggest problem is that they are globalists. Most of us put Canada first.

4th December 2023 at 10:47 am
Karen Q

You’re absolutely right – the main motivation is being prominent on the world stage for their decisions and their ideals. The life of the average Canadian is just not interesting or important; it’s all for the “greater good “. “Good” being defined by the WEF and not in the least practical or concerned about ‘wealthier’ nations like Canada

4th December 2023 at 11:18 am
LETuff

So true, Thank you.

4th December 2023 at 7:53 pm
Lauraine

Why is globalist thinking such a frightening concept to the me, me, mine, myselfs?

4th December 2023 at 3:39 pm
Michael F

Your tinfoil hat is a little too tight today.

4th December 2023 at 11:11 am
Michael F

Second lowest rate of inflation in the G7 as of earlier this year. Unemployment almost a full 2% less than the historical average. I think they have done a decent job considering we are coming out of an unprecendented global pandemic where there were some pretty legitimate fears that the global economy could collapse. The facts speak for themselves.

4th December 2023 at 7:24 am
Ron

Well Canadians are living in tents ,losing there homes jobs no jobs available for white people what does this tell you freeland and trudeau should be rode out of canada on a rail or tarred and feathered and my opinion Charged

4th December 2023 at 7:41 am
Ted K

Who would want to join a nonsensical discussion between intellectually lightweight partisans?

4th December 2023 at 11:18 am
Michael F

Partisan cesspool of half baked conspiracy theories and misinformation. Notice that not one of them disputed the actual facts I posted.

4th December 2023 at 1:13 pm
john morel

FREEBASER needs to go along with Waterhole

4th December 2023 at 3:06 pm