Servicing Canada's ballooning debt now costs $2,000 per citizen, per year. According to the PBO’s latest report, interest charges on the debt alone will cost taxpayers over $55 billion this year. That is more than the federal government transfers to provinces annually for healthcare. Additionally, debt interest on the debt is projected to cost Canadians $82.4 billion annually by the end of the decade. According to the PBO, “the federal debt-to-GDP ratio is projected to increase from 41.7 per cent in 2024-25, rising above 43 per cent over the medium term.” 

On the consumer front, Canadian personal debt is at 174.9% of disposable income and is now growing faster than personal income. Young people are not taught what savings are and why they are necessary. Our economic system survives only on savings. The sooner a person begins to save and becomes dedicated to it the healthier an economy will become. 

It is obvious the Carney is not the financial genius his gullible voters thought he was. On November 4th Carney will hand down its first Federal budget, only 567 days since Canada’s last budget. He has stated that it could show an $85b deficit. But based on his recent spending, it could easily exceed $100b. Moves like this proves he does not think much about our national  finances. Why would he though when 92.7% of his money is invested in the US and only 2.7% in Canada.

Carney is showing the world he is a one-person government. His visits to world leaders is just a stop for a cup of tea and has accomplished nothing. He should be visiting business leaders from all corners of the globe. Whether you liked or disliked past PM’s they at least took businesspeople with them for the sole aim of showing Canada wanted to do business. To date only Saskatchewan Premier Scott Moe has been travelling the world trying to drum up business for his province’s potash and canola. At least he understands what needs to be done whereas  Carney is only interested in getting business for central Canada and neglecting the western provinces. 

For years we have suggested Canada do a trade deal with Greenland to help them develop their resources. One area is close to our Labrador. Shipping the ore to Labrador can then be shipped to Asia from our west coast. Because Carney is one of the weakest prime ministers we have ever had, he will not even try to help Greenland because it would upset Trump who wants to take over Greenland. 

As the Govenor of the Bank of Canada Carney did not learn the most important part of the job; always protect your currency. The road to prosperity is to try and push the value of the currency higher because it results in lower inflation and interest rates naturally, both of which attract foreign investors. Carney’s deficit alone will push our dollar down to around sixty-eight cents U.S. The only potential saving grace is that Trump is also hurting the American economy and their debt is growing faster than ours. It is a situation of who is faster at destroying their country with out-of-control debt growth.  

It is criminal that Canada does not have a coast-to-coast pipeline. Six countries want to buy our natural gas but to date Carney has and is doing nothing about this. Instead, he is putting on a show for Trump who only laughs at him for his ‘do nothing’ attitude.  A liberal mouthpiece announced that the Liberal will decide on an oil pipeline in four years time. Conveniently,  the next election will be in 3.5 years. Carney is 100% dedicated Green who wants to close all oil projects in Canada while supporting them in the US via his investments in Brookfield. 

It is time for a major change. Assuming there is an early election, and we get a real government, Canada could easily be the number one country in the world to invest. Foreign investors are interested in our resource sector, our universities have received international recognition, and the banking system is known for its safety measures. The only thing blocking us is a useless Liberal government. Canada cannot afford the Liberals.