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Freeland authorizes $517 billion in federal borrowing

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The fiscally irresponsible Trudeau government is at it again. With Canadians already struggling under the weight of skyrocketing inflation, Finance Minister Chrystia Freeland has just increased the federal borrowing limit by a whopping $73 billion to $517 billion this fiscal year.

This outrageous debt ceiling hike comes with no transparency, no accountability, and no justification, as the minister provided no reason for the increase and continues to evade scrutiny over her blank cheque spending spree that piles on debts future generations will have to pay off.

It’s clear Trudeau and his cabinet cronies have no real plan or intention to balance the budget, as they continue their borrow-and-spend binge while hard-working, tax paying Canadians are left to pick up the tab. Justin Trudeau himself has flippantly claimed that the budget will balance itself while his government drives Canada deeper into the fiscal abyss.

The writing is on the wall – this government’s fiscal recklessness and lack of restraint threatens our economic future. Canadians deserve better than this Liberal fiscal negligence. It’s time to take a stand against Trudeau’s runaway deficits before it’s too late.

The Trudeau government just can’t stop its out-of-control spending. Finance Minister Chrystia Freeland recently boosted the federal borrowing limit to an unbelievable $517 billion for this year alone.

There’s no good reason for allowing this sky-high record debt. It only further ruins what little trust people had left in the government being careful with money.

With the stroke of a pen, Minister Freeland has granted herself authority to borrow an additional $73 billion by April 1, pushing Canada’s total approved borrowing to levels never seen before. This decision reeks of fiscal irresponsibility and lack of accountability. It raises serious questions about the government’s transparency and its seeming inability to control spending.

Of course, Minister Freeland claims the borrowing limit increase is not a blank cheque. She asserts that each expenditure still requires Parliament’s approval. But her reassurances ring hollow when the public sees a pattern of uncontrolled deficits and ballooning debt under Prime Minister Justin Trudeau’s watch. His government seems to have an insatiable hunger for spending without a plan for ever balancing the budget.

The rapid escalation of Canada’s borrowing limit is alarming. In 2021, the Trudeau government raised the federal debt ceiling by a whopping 56%, pushing it to $1.83 trillion. And this year, Minister Freeland has tacked on another $73 billion. This pace is simply unsustainable. It mortgages the future of younger Canadians who will ultimately foot the bill for today’s Liberal spending spree.

Back when the budget was last balanced in 2007, nobody could’ve predicted how out-of-control deficits and debt would get under Trudeau. His relaxed attitude of saying “the budget will balance itself” has turned out to be really reckless. Canada now borrows tens of billions annually just to pay interest charges, let alone program spending.

The Minister can’t pretend something suddenly came up that made her jack up borrowing. This looks like a planned move to let the Liberals spend like crazy before the election without Parliament watching.

They act like overspending can just go on forever with no problems. This short-sightedness puts Canada’s future at risk.

The Minister says borrowing way more gives them flexibility to handle emergencies fast. But that reasoning doesn’t really make sense. When COVID-19 happened, Parliament had no problem quickly approving money for relief programs.

Claiming they suddenly need to borrow $73 billion extra for a cushion in case of emergencies seems ridiculous. More likely, the Liberals just want a ton of extra money to spend freely in the coming months to get voters to like them.

Minister Freeland claims to be mindful of debt limits, but her actions contradict her words. Raising Canada’s debt ceiling twice in 12 months demonstrates a disturbing lack of fiscal discipline.

The Minister tries to downplay criticism by claiming Conservatives are exaggerating, but she cannot deny the objective facts about exploding debt levels under her government’s watch.

Canadians deserve straight answers on why Minister Freeland really needs this massive increase in borrowing authority. Her vague assurances do not cut it. There is too much evidence of wasteful spending, misplaced priorities and lack of budgetary control.

The Minister has given Canadians no reason to trust her judgment. This borrowing limit increase may be just the latest example of the Liberals’ Limitless tax-and-spend mentality.

This lack of fiscal discipline is mirrored in the government’s failure to meet its NATO defense spending commitments. NATO Secretary-General Jens Stoltenberg has warned Canada to provide a timeline for increasing defense spending to 2% of GDP, as pledged.

“But I expect Canada to deliver on the pledge to invest two per cent of GDP on defence, because this is a promise we all made,” Stoltenberg said, pointing to Canada’s geographic significance as the country with the second longest coastline. “But of course, Canada should, as all other allies, deliver on the pledge to invest two per cent, because we need that in a more dangerous world.”

Despite dramatically increasing Canada’s borrowing limit, the Trudeau government has not allocated funding to meet the NATO target. This highlights its misplaced priorities and lack of commitment to national security. At a time of rising global threats, Canada remains unwilling to properly resource its military.

While Finance Minister Chrystia Freeland has authorized massive deficit spending and ballooning debt, boosting military funding has not been a priority. Canada is set to miss NATO’s 2% target again despite rising threats. This reveals a government eager to spend recklessly in other areas but reluctant to properly resource the military.

Even with $73 billion in additional approved borrowing this fiscal year, the Trudeau Liberals did not allocate funding to finally meet Canada’s NATO obligation. Their lack of action speaks volumes about where national defense ranks in their priorities.

Meanwhile, NATO’s Secretary General has made clear that Canada, as a major G7 economy, is expected to fulfill its 2% defense spending pledge. But the Trudeau government has continually delayed, deflected and broken its promises.

The gap between Canada’s words and actions on funding our military is obvious. Vague commitments to “step up” ring hollow without firm timelines or budget allocations. The government seems to believe spending targets are for other countries, not Canada.

The Minister speaks about debt limits as if she respects them, but her actions show an Unstoppable addiction to red ink. Canada is now the only G7 country without a plan to balance its budget as its debt spirals out of control. This is not the leadership voters deserve.

Canadians deserve far better than the outright betrayal of trust and blatant fiscal incompetence displayed by the tax-and-spend addict Trudeau Liberals. Their unrestrained borrowing frenzy under spendthrift Finance Minister Freeland is an unforgivable generational injustice bordering on criminal negligence.

With no justifiable rationale, Minister Freeland has shamelessly increased her own borrowing powers to unsustainable levels that threaten Canada’s future prosperity. Her fiscal recklessness reveals total unfitness for office and utter contempt for taxpayer interests.

The Minister’s disgraceful borrowing binge has enriched Liberal cronies while selling out future generations. Her credibility on fiscal responsibility is utterly destroyed beyond repair. This government’s astounding mismanagement, deceit and arrogance have proven it cannot be trusted with the nation’s finances.

Hopefully voters will soon have the chance to replace these dangerous fiscal saboteurs with mature leadership that respects balanced budgets and discipline. To regain prosperity, Canada must eradicate the fiscal disease of Freeland’s tax-and-spend ideological madness run wild under Trudeau. Voters must rescue Canada from oblivion before Liberal misrule becomes terminal.

The Minister keeps borrowing like crazy with no good reason. This has gone on way too long. It’s slowly crushing our country’s growth and opportunities.

Her awful money management makes the Liberal government a huge threat to Canada’s future. It’s up to voters to kick out these incompetent wasteful spenders before the harm they cause can’t be undone.

The time has come for Canadians to demand their democratic right to pass judgement on the fiscal insanity of the Trudeau government. This country deserves the chance to vote now for more responsible leadership.

Canadians must call for early elections before it’s too late. The endless borrowing and wasting under Trudeau and Freeland are bankrupting our future. Voters deserve the opportunity to choose prosperity over national plunder.

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