John Bolton - November 05, 2025


The Question No One Is Asking About The Liberal Budget


Episode Stats


Length

5 minutes

Words per minute

170.92982

Word count

989

Sentence count

69


Summary

Summaries generated with gmurro/bart-large-finetuned-filtered-spotify-podcast-summ .

In this episode, I talk about the budget, and why I don't think it's going to be a good one. I also talk about why I think we're not going to have a balanced budget in the next 5 years.

Transcript

Transcript generated with Whisper (turbo).
00:00:00.000 Hi, it's John, and welcome to the channel. Great to have you here. You're seeing this
00:00:07.920 on Wednesday, November the 5th, but I'm recording this in the evening of Tuesday, November the 4th.
00:00:14.820 The reason I'm doing this is because I am getting up early like usual tomorrow morning,
00:00:18.700 but I have to drive my wife to the airport real early tomorrow morning, and I didn't think I'd
00:00:23.340 get a chance to do a video. I'm actually, I am down in my basement. Let me just show you where
00:00:28.500 I am, okay? This is the room that you normally see behind me that's in the dark. There's my TV.
00:00:33.580 I'm sitting here watching YouTube tonight. Don't have my big blue mug of coffee. Too late. It's
00:00:38.800 about 7.30. I do have my big blue chair, though, okay? So I'm trading off one for the other.
00:00:44.280 So I'm sitting here watching YouTube and getting follow-up to the budget from this afternoon,
00:00:49.960 and I watched Elevate Podcast. I watched Moose on the Loose, Brian Lilly, did excellent jobs of
00:00:56.100 describing what happened in that convoluted bullshit that Francois-Philippe Champagne unleashed
00:01:01.900 upon Canadian taxpayers at about 2 o'clock mountain time today. And I'm sitting here thinking,
00:01:08.240 how am I going to convey all the information that was in that convoluted bullshit to you?
00:01:13.360 And then it dawned on me that that's not really my purpose here. I've got something else that I got
00:01:21.960 from this budget today. I don't hear a lot of people talking about maybe a couple of things,
00:01:25.380 but one in particular. So I'm watching Elevate Podcast. I'm watching Moose on the Loose. I'm
00:01:30.020 watching Lilly. I got the idea that we're not going to be balancing a budget over the next five
00:01:34.100 years. I think the lowest deficit we're going to have is something like $56 billion, give or take,
00:01:39.160 a couple of billion. So over the next five years, I think we have the $300 billion deficits, right?
00:01:45.860 The other thing I heard was that back during the last budget, which was 18 months ago, back in 2023,
00:01:52.740 they projected a $38 billion deficit this year, and it came out at about twice that much.
00:02:00.820 I'm watching CBC. I know it rots my brain. Don't warn me about it. I'm watching CBC today. I watched
00:02:06.380 it because Melissa Lansman was on the conservative. And the CBC, I think, is getting another $150 million
00:02:13.220 of your money. They said, well, at least it wasn't $100 billion. No, only $76. So the liberals are living
00:02:20.900 up to our low expectations like they normally do. But while Lansman was on there, they weren't so
00:02:28.160 interested in what she had to say about the budget, but they were really interested in the
00:02:33.080 fact that one of the conservatives either got tossed from the caucus from Polyev or walked
00:02:38.520 across the aisle and is going over to the Liberal Party. So I think that leaves two seats away from a
00:02:44.440 majority for the liberals now. And there's a couple of other conservative names that have come up that
00:02:48.400 might do the same thing. And you have to know that Mark Carney's on the phone with the NDPers right now
00:02:52.760 saying, come on over, guys. We'll get lots done. But are they getting a lot done? Other than spending a
00:02:59.540 whole shitload of your money? No. This is supposed to be a transformative budget,
00:03:06.600 a generational budget to get big things done. I didn't hear a lot about that today.
00:03:10.680 I did hear that the liberals are going to scrap the emissions cap and the greenwashing rules. Okay,
00:03:16.520 so this is throwing a bone to Daniel Smith. They're scrapping the emissions cap, something that
00:03:20.820 Daniel Smith wanted. The greenwashing rules, basically it was taking away the free speech rights
00:03:27.040 of oil and gas companies to talk positively about their products. But they're replacing the emissions
00:03:33.580 cap with, sorry, they're strengthening the emissions, strengthening the emissions cap with
00:03:38.900 the industrial carbon price. So they're kind of trading one off for the other. So I don't think
00:03:43.180 there's any way Alberta can accept this budget. There's no pipelines in this. There was a lot of
00:03:50.340 green nonsense from Mark Carney and the Liberal Party. But what did I really get from this budget?
00:03:57.800 What's the one thing that most people aren't talking about? And it's the most important thing.
00:04:03.660 You can go through this budget line by line and it tells you nothing about how this budget
00:04:09.460 is making life better for you. That's what I was thinking. Are you better off after this budget
00:04:19.980 than before? No, to the contrary, it's probably worse because we're going to spend this country
00:04:25.040 into oblivion. And nothing's going to get better. Poliev's right. If you print money or spend too much,
00:04:35.000 you end up driving up the cost of living for everybody. And I think that's what's going to
00:04:38.880 happen. I don't feel like I've been helped at all by this budget. That's the most important thing
00:04:45.740 you need to think about. Now, the other thing, you're probably not going to like this. I live in
00:04:55.720 Alberta and we're getting day by day closer to an independence vote right now. I, at this point,
00:05:03.520 hope the Liberals burn the whole fucking country to the ground because it's stoking the fires of the
00:05:08.640 independence movement. If the Liberals get a majority without even going to an election,
00:05:13.400 that's just going to piss off more Albertans and it'll just drive more people to the independence
00:05:17.620 movement. I hope they burn the whole fucking country to the ground. I'm sorry if you live
00:05:21.680 in the rest of the country. That's the way I'm feeling at this point.
00:05:26.700 As I've said many times here, Canada's demise will result in Alberta's rise.
00:05:34.060 Do you feel better off after what you heard the Liberals say today in that budget? That convoluted
00:05:46.400 bullshit?