Juno News - Carney’s First Budget： Record Debt, Rising Costs

00:00:00.000 welcome to the fighter with chris sims i am chris sims i'm the alberta director for the canadian

00:00:11.600 taxpayers federation at the taxpayers federation we are always fighting for lower taxes less waste

00:00:18.380 and more accountable government and so yeah yesterday's budget those are big days for us

00:00:24.760 and we have got a special show for you today it's extra long and it's happening on an extra day

00:00:31.540 because this thing's costing you a lot extra and i'm really sorry what you're about to watch

00:00:38.380 is going to be a little painful first i did have some housekeeping to go through here really quick

00:00:43.800 as of the recording of this show there has been one member of parliament who has crossed the floor

00:00:51.160 from the official opposition the conservatives over to the government officially so now this

00:00:58.980 member of parliament who recently ran as a conservative in nova scotia is now joining

00:01:04.980 the liberal government of mark carney just a few months after the election we have some brand new

00:01:12.440 tape here of prime minister mark carney talking about this floor crossing let's listen i'd like to thank

00:01:18.660 chris d'antremont uh the member for parliament for akadze annapolis i'm honored uh to welcome him

00:01:27.360 as the newest member of our government caucus chris's decision to join the government caucus

00:01:36.780 at this crucial moment for our country is exceptionally valuable and important

00:01:42.760 so for folks who don't know where that region of nova scotia is that is over on what is the west

00:01:49.680 side of nova scotia it's up and over in the annapolis valley that is where a major university is located

00:01:57.160 in wolfville so there you have it now i gotta say i love alberta i love a million things about living in

00:02:06.940 the province of alberta one of the best things about living in the province of alberta is its sense

00:02:12.840 of direct democracy like every time you go out on a thursday night around here you're gonna trip over

00:02:18.820 some activist group somebody who's involved okay in their local politics in provincial politics and

00:02:25.920 one of the mechanisms we have here in alberta is for direct democracy and it is called recall

00:02:33.940 legislation what is recall legislation you may ask well in the province of british columbia they have

00:02:40.540 it at the provincial level in the province of alberta we have it at the provincial municipal

00:02:46.280 and school board level meaning if any politician starts screwing up so badly that enough of his or her

00:02:56.620 constituents the folks who voted for them in their riding or their ward sign a petition they will then

00:03:03.540 trigger a by-election and then that mla or that city councilor that mayor or that school board trustee

00:03:12.700 has a choice he or she can either rerun to keep their job or they can bow out of that by-election

00:03:20.860 it can go both ways but it is a darn good mechanism it is a very good tool to have in that democracy

00:03:30.100 toolbox and it's one of the reasons why the taxpayers federation we think you should have recall legislation

00:03:35.860 at the federal level so stay tuned to juno news throughout the day we will have updates on what

00:03:41.280 is happening with the soap opera that is up on parliament hill where politicians get together with

00:03:47.000 bureaucrats and decide on how to best waste your money speaking of which the federal budget came down

00:03:53.540 yesterday and i'm just gonna level with you uh it kind of took me off guard i knew it was going to be

00:04:00.400 bad i knew it was going to be bad but when i was initially looking at the top line numbers

00:04:06.600 i thought that it was about 10 billion dollars less bad than what the parliamentary budget officer was

00:04:13.620 warning about but i was wrong it's 10 billion dollars worse than what the pbo was warning about

00:04:22.640 remember when he was saying the government watchdog on the budget was saying that this is unsustainable

00:04:29.300 and stupefying it's 10 billion dollars worse than that and i'm sorry to be the deliverer of this news

00:04:38.080 i almost cried when i saw that number um conservative leader opposition leader pierre poliev did a great

00:04:45.620 job holding the government to account and sticking to the numbers on this budget let's listen to the

00:04:52.240 damage the liberals have introduced the most costly and largest budget deficit in history outside of

00:04:59.640 covid the cost of this liberal budget will drive up the cost of food housing and everything else that

00:05:06.640 canadians buy and the prime minister has broken every single promise he made just seven short months

00:05:12.880 ago he promised a 62 billion dollar deficit he delivered nearly an 80 billion dollar deficit 16 billion

00:05:20.680 bigger than he promised and twice the size that his predecessor left behind he promised to spend

00:05:26.120 less he's spending 90 billion dollars more costing 5 400 dollars per family in canada and that 90

00:05:36.120 billion dollars to the prime minister's heckles is above and beyond the promised 16 billion dollars

00:05:42.120 that he says he will one day find and if he doesn't find them it will be over a hundred billion

00:05:47.160 in brand new spending this costly budget forces canadians to spend more on debt interest than

00:05:53.880 on health care transfers more than the government collects in gst that means every dollar the canadians

00:06:00.280 pay in gst will go to bankers and bondholders instead of to doctors and nurses

00:06:09.080 so those numbers that he was talking about there those are just those are in the budget that's the

00:06:15.480 map okay uh sean if you want to pull up that board i think it's really important for us to look at the

00:06:20.280 actual grim numbers here and i know this is not fun guys but we need to be the adults in the room here

00:06:25.240 because the government isn't going to be so we need to go through this okay it's like an autopsy okay

00:06:30.120 so the deficit this year meaning how much more they're spending than they are taking in

00:06:35.640 more than 78 billion dollars the debt by the end of this fiscal year is going to be 1.3 trillion

00:06:49.400 dollars a trillion folks is a one with 12 zeros after it one trillion is such a big number if you

00:06:59.000 started counting right now it would take you 30 000 years to count to one trillion

00:07:05.720 the debt interest this year like this year alone the same way that you would add up the interest

00:07:12.040 you're paying on say your line of credit or a credit card the debt interest this year is costing

00:07:18.520 canadian taxpayers more than 55 billion dollars i'll put it this way if you take a look at debt

00:07:28.200 interest okay this is not just some weird term that's like buried somehow in the budget and you don't

00:07:35.240 really pay it and it's fungible marginal blah blah blah blah okay no this is not some economics nerd trick

00:07:41.960 okay the debt interest is actually paid every year by you by me by all of us taxpayers and what we are

00:07:52.280 spending on debt interest is more than a billion dollars a week a week i'll put it this way another

00:08:01.240 way it costs about a billion dollars to build a brand new hospital okay all the paint and

00:08:07.960 the lights and the chrome and the fancy doors okay about a billion bucks what we are spending on debt

00:08:14.040 interest is like burning down a new hospital every week so unfortunately remember how earlier we were

00:08:22.040 wondering which will be the real mark carney will he please stand up right well i really wish that this

00:08:29.160 budget were more slim than it is shady but it's super shady and the real mark carney is unfortunately

00:08:36.120 this guy who wrote this book values while he was a un special envoy to blah blah blah it's not the guy

00:08:43.320 who ran in an election on being the smart guy with money on being fiscally responsible this government is

00:08:50.520 blowing the budget it's spending money worse than trudeau i can't believe i'm saying this out loud okay

00:08:57.080 so it's up to all of us to now hold our members of parliament to account now at the taxpayers

00:09:03.240 federation we don't just cover budgets okay we don't just calculate how much the debt interest is

00:09:07.880 going to cost you per week all that stuff that's all really important we're going to get to that in

00:09:11.640 a second but remember one of our big fights was the carbon tax and it's because of tax fighters like

00:09:17.560 you that we're not paying the consumer carbon tax anymore thank goodness so that's gone but

00:09:24.440 this is the big one carney is still pushing through his big hidden industrial carbon tax

00:09:32.040 i combed through that budget as fast as i could it could still be in there

00:09:36.600 the number for the industrial carbon tax and how much it's going to cost you

00:09:41.320 i can't find it but it's in there he mentions it repeatedly that this is going to be a structural

00:09:48.280 element of our economy going forward for decades and decades yay it's all through this book where

00:09:53.640 he talks about his love for carbon taxes carney goes on and on about it interesting peer polyev he

00:09:59.800 also noticed that this budget rattles on and on about how awesome an industrial carbon tax is listen to

00:10:07.160 this he raises the industrial carbon tax on farm equipment and fertilizer and therefore food on steel

00:10:15.160 concrete and other industrial projects needing needed to build homes a big tax increases on homes

00:10:21.720 and food so polyev's right there we just don't know how much it's going to cost okay so it's mentioned

00:10:29.320 there all through there that they've got you know benchmarks and backstops and all that stuff remember

00:10:34.280 all that talk during the regular carbon tax it's back and it's in hidden industrial carbon tax form

00:10:41.000 so this is going to cost you big time we're still trying to calculate how much i also wanted to do

00:10:46.120 a quick flag here for the alberta government to watch out for because in this budget for some reason

00:10:53.720 they're rattling on about their so-called emissions cap okay what it actually is is an oil and gas

00:11:00.280 production cap okay it is the boot on the throat okay of alberta's oil and gas sector okay along with bill

00:11:08.520 c69 the no more pipelines act along with the west coast tanker ban okay the production cap on alberta's

00:11:15.800 oil and gas is a huge strangulation of the canadian economy and of alberta in particular it mentions

00:11:24.280 it in the budget but doesn't say it's getting rid of it it's like oh because of technology in the

00:11:30.120 future and maybe someday we'll hit our metrics and have a meeting and we won't need it anymore blah blah

00:11:35.240 there's a reason why this budget isn't the five pages that we actually need and instead is 498

00:11:43.000 pages long and it is brutally overspending your money how much are they spending what are they

00:11:51.400 spending the money on and how on earth do we dig ourselves out of this ocean of red ink and debt

00:11:57.720 let's find out joining me now is my good friend of this program franco terrazzano he is our federal

00:12:04.680 director for the canadian taxpayers federation and franco was in the middle of what we call the budget

00:12:10.840 lock-up yesterday looking at all of the gory details franco i gotta admit when you and i were

00:12:17.000 talking about this yesterday um the actual deficit kind of took me off guard i thought it was a little

00:12:22.840 bit less bad than what the pbo had said but it's worse how can it be worse well it's a debt disaster

00:12:31.880 and debt is spiraling out of control because spending is spiraling out of control i mean look

00:12:36.600 welcome to canada folks where every dollar you pay in federal sales tax is going to pay interest on the

00:12:43.400 debt let that sink in the next time you're waiting in the checkout line hey folks or think about it this

00:12:48.280 way the federal government is now wasting more money paying interest on the debt than what it

00:12:52.920 sends to the provinces in health care transfers and like i just want to make a statement right now

00:12:58.600 we need a sense of urgency okay the smoke is up okay we can't wait until the fire engulfs the whole

00:13:06.440 kitchen we got to put the smoke out now so this is a call both to the liberal government prime minister

00:13:11.480 mark carney but also the opposition parties look the conservatives have been pretty good calling for lower

00:13:16.840 spending but it the urgency needs to be cranked up this is a serious problem it is um but i don't know

00:13:25.240 if they're getting it man uh we just got a brand new clip from prime minister mark carney where he's

00:13:31.880 talking about fiscal responsibility listen to this we've put forward uh to the house a plan that meets the

00:13:40.920 moment uh that manages the federal finances in a prudent responsible pragmatic way gets spending down

00:13:50.760 and creates this prospect of investment on a scale that we haven't seen for generations

00:13:58.760 so franco i don't know what you're going on about man because he just said prudent responsible and that

00:14:04.360 he has spending down what's going on yeah spending down what is going has he read the budget okay the

00:14:11.240 government is going to spend 581 billion dollars this year 581 billion dollars this year that's a 38

00:14:19.160 billion dollar spending increase in one year okay remember trudeau i know you don't want to think

00:14:25.160 about him but we all know trudeau was spending wasting money like crazy reckless out of control spending

00:14:30.280 the government under carney is spending 38 billion dollars more than what trudeau spent last year

00:14:37.960 right carney was supposed to be the uh the economic guru right the man with the plan to clean up economics

00:14:43.400 canada's economic mess i mean he's throwing fuel on the fire here yeah 38 billion dollars spending

00:14:50.040 increase uh in one year and guess what folks mr carney in this budget plans to spend billions of dollars

00:14:56.840 more every single year what blows my mind franco is that one of my radio hosts that i'm on with every

00:15:04.680 week refers to the former prime minister now as katy perry's boyfriend um so carney the guy with the

00:15:11.880 phd from oxford and economics is managing money worse than katy perry's boyfriend like are we in the

00:15:19.480 twilight zone here like seriously you're in ottawa okay you walk around those streets you go to those

00:15:25.160 coffee shops you kind of hear the buzz why are they not getting this like why is the math not

00:15:31.880 mathing like what is it about this message that these liberals this current liberal government because

00:15:36.760 this is not paul martin's liberal government by a long shot um what is with this current liberal

00:15:42.200 government not getting budgeting yeah the party's supposed to be over but the party is raging on yeah

00:15:48.840 right and like look like it's just absolutely pure spin i mean look like the government is trying to

00:15:54.760 claim it's saving around 60 billion dollars well a couple things there number one when you're

00:16:00.360 increasing spending billions of dollars every single year you're saving money wrong like that's

00:16:05.720 not how saving money works when you're spending billions of dollars more every year but number two

00:16:09.880 guess what if you go through the budget documents folks you'll notice one thing sticks out to you okay

00:16:14.680 and that's this that all of the savings all happen in future years right when have we heard that

00:16:22.680 before oh don't worry folks just a couple small deficits and we'll balance the budget in four years

00:16:27.880 oh don't worry folks we'll find 15 billion dollars of savings in a few years yeah all of that happened

00:16:33.400 under trudeau and it looks like carney is doing the exact same plan look here is the big problem

00:16:37.880 okay the government always promises to go on a diet monday and then monday never comes there is no real

00:16:46.600 savings in this budget just billions of dollars more spending more borrowing and carney is continuing

00:16:53.160 trudeau's debt-fueled spending spree we've got some hard numbers here in black white and red and uh

00:16:58.920 red is the suitable color here sean if you want to pull up that board please that you made for us

00:17:03.400 and you can look here at what we're dealing with so we're dealing with a deficit of more than 78

00:17:10.360 billion dollars for folks who are following along with home at home a billion is a thousand million

00:17:17.000 a billion is a number with at least you know not with nine zeros after it or nine digits after it our

00:17:22.120 debt so am i correct here at the end of this fiscal year our debt's gonna hit more than 1.3 trillion franco

00:17:31.080 yeah that's correct that's correct yeah 100 and like the interest charges there are 56 billion

00:17:36.120 that's this year uh by 2029 debt interest charges are going to blow a 76 billion hole in the budget

00:17:43.640 this is bad okay like folks this is really bad and like look this is like the government has to

00:17:50.200 be urgent about this okay i mean just ask the saskatchewan ndp what happens when debt interest

00:17:57.080 charges balloon out of control remember back in the 90s you even had the ndp in saskatchewan that

00:18:01.720 was forced to close down dozens of hospitals across that prairie province like the government

00:18:06.680 has to be urgent and you know like things are too far gone now so we got to call it the government

00:18:11.560 and i'm also going to shift gears and talk about the official opposition now please uh to the

00:18:15.320 conservative party's credit yeah um they have started talking about lowering the deficit cutting some

00:18:20.360 spending they've they've even said that we got to find uh big savings in the bureaucracy but we need all mps

00:18:26.440 including opposition parties to be like no no no no the time for spending restraint is gone yeah we

00:18:33.480 need big time spending cuts now look the carny government should have fired at least 40 000

00:18:39.400 bureaucrats yesterday right this is at the point that we are now where the federal government over

00:18:44.200 the last decade added a hundred thousand extra federal paper pushers we can't talk about attrition

00:18:49.240 anymore we can't talk about just you know uh tinkering on the margins no we have to fire bureaucrats in 0.97

00:18:55.720 ottawa can you make this real for taxpayers because i think sometimes when people hear okay 50 billion

00:19:04.520 to plus 50 billion dollars a year in interest payments out the door i think sometimes that

00:19:10.440 number is so big and the budget is like flipping 498 pages long it can get so dense that they're like

00:19:17.560 oh okay maybe that's some sort of marginal thing or i don't know but this is taxpayers money being

00:19:25.400 spent on interest payments right like this is money out of your wallet every year on interest correct

00:19:32.600 debt interest charges are costing each canadian about 1300 bucks this year okay that's not that's

00:19:40.120 not 1300 bucks this year taken from your your wallet to pay for services or to even pay down the debt no

00:19:46.520 the government is taking 1300 bucks from you this year alone just to make interest payments on the debt

00:19:54.120 folks it's more than a billion dollars a week okay and i want you to visualize this building a brand

00:20:01.240 new hospital with all the paint and the chrome and the windows and stuff costs about a billion bucks

00:20:07.480 so if we're blowing through a billion dollars a week on debt interest payments i want you to picture

00:20:13.720 every saturday night we all gather around the television set and we burn down a new hospital

00:20:19.240 every week that's what we're wasting just on debt interest that is why franco and i got our blood

00:20:25.640 pressure up a little bit here because this is critical franco you did the math on this a while

00:20:30.680 ago and it still blows my mind can you walk us through what if back in 2015 when the guy with the

00:20:37.400 fancy socks who is fiscally illiterate and i don't even feel like picking on him anymore because carny's 0.54

00:20:41.880 spending money worse than he was so amazing but back when he took over in 2015 when trudeau was prime

00:20:47.560 minister starting then if we had simply kept pace with population growth for our bureaucracy if we

00:20:55.160 had grown the bureaucracy at the same rate as population how much money would we be saving

00:21:00.600 more than seven billion dollars a year like and and folks like think about that right like everyone

00:21:05.480 knows that canada's population boomed yep the bureaucracy increased by like more than double

00:21:11.320 like what is going on here folks and like yeah like sorry we're getting kind of upset but this is

00:21:17.320 some real serious stuff like we are at the point like i said it's not just about restraint anymore

00:21:22.520 no the time for the scalpel is over we need a chainsaw yeah right uh abolish the cbc sell the 0.98

00:21:29.960 failing crown corporations like um canada pose via rail via rail hemorrhaging hundreds of millions of

00:21:36.600 dollars every single year i'm talking about firing tens of thousands of bureaucrats that is what has

00:21:41.640 to happen and not tomorrow not three days three years from now not four years from now asap like

00:21:47.480 this has to happen now okay we need major major cuts uh look at all the money being spent uh through

00:21:54.200 foreign aid right the last year i looked the federal government was spending about 11 billion dollars

00:21:59.240 on foreign aid okay so that means that the federal government spent almost twice as much

00:22:04.280 on foreign aid as what it spent through the entire department of veterans affairs i want to underline

00:22:11.720 that because for those of us of a certain vintage when we hear foreign aid we might remember terrible

00:22:19.080 images from the 80s of you know kids who are hungry and they need food etc etc no no no that is not what

00:22:25.960 we're talking about under the auspices of foreign aid aren't we handing out a ridiculous amount of

00:22:32.120 money for the stupidest things possible like is this where we're also handing out money for whatever

00:22:37.320 that was like gender neutral rice in vietnam or something is that under the umbrella of foreign aid or is

00:22:42.760 that under some other umbrella i mean who cares what umbrella is under i mean it's it's wasted money

00:22:49.000 overseas right it's taking money from canadian taxpayers and wasting it overseas you mentioned that

00:22:53.880 gender just rice whatever that i don't even know i think i'm not sure uh okay uh 8 800 bucks on a

00:22:59.960 sex toy show in germany chris what's the name of that show can't remember okay uh 12 grand for seniors

00:23:05.960 in other countries that talk about their sex lives in front of live audiences so the government is

00:23:10.120 essentially outsourcing old people sex stories now welcome to canada's economy um or how about this one

00:23:15.400 right where and this one hits close to home where you have um countless canadian canadians waiting in

00:23:22.040 pain sometimes for years to get a hip replacement meanwhile the government is dishing seven million

00:23:27.640 dollars uh to the philippines for like gender responsive universal health care over there 0.96

00:23:33.640 like what are you kidding me i know like look look outside the street people are struggling i know and

00:23:39.080 the government is absolutely broken speaking about the government being broke like in this budget

00:23:43.560 right kari is borrowing about 80 billion dollars this year and yet he has 150 million bucks extra for

00:23:49.720 cbc yeah your eurovision like isn't that like a will smith movie like what what is like no or not will

00:23:57.960 smith i'm thinking about the catcher from the dodgers uh will farrell wasn't didn't he do like a

00:24:02.040 eurovision bad movie like a couple years ago any who's i digress uh what about this a hundred million

00:24:08.680 dollars for fifa yeah for a soccer tournament yeah so uh fifa is apparently about you know soccer

00:24:17.080 and we're wasting money on that uh we are handing 150 million dollars more out to the cbc i will point

00:24:25.960 out that was announced earlier this year that the state broadcaster is going to be getting 150 million

00:24:31.960 bucks more when oh i don't know around the federal election weird how that happens eh like okay

00:24:39.160 journalists should never be paid by the government i don't care if it's dawn cherry or rosemary barton

00:24:45.160 okay journalists should never be paid by the government because we need a free press this is

00:24:49.160 free from government and to that point on eurovision i couldn't believe what i was reading and this is i'm

00:24:54.600 going to land on this point franco i was scrolling through that budget as fast and hard as i could because

00:24:58.920 i was looking for some numbers attached to the industrial carbon tax it's listed in there i

00:25:05.160 couldn't find any numbers yet but i'm gonna keep looking that stupid bloated budget is more than 400

00:25:12.520 pages long and i'm just gonna say it pull up that board one more time sean please if you can okay this

00:25:19.000 is what needs to be in a budget maybe a little bit more but not much more than that okay it does not

00:25:25.160 have to be 400 pages long and the government has no business imagining their debut at eurovision which

00:25:33.960 i think that's like star search in europe i got a pretty good grade in geography but you don't have

00:25:42.920 to be a math whiz to know canada's not in europe like last i checked i think there's a big pond between

00:25:49.720 us isn't there franco this gets to my point of how do we drill home this message of severity and

00:25:57.400 seriousness to a government who clearly isn't taking their budget seriously if they're spitballing ideas

00:26:03.960 about being a contestant in eurovision like how do we push them well look the parliamentary budget

00:26:10.440 officer is the government's own independent and non-partisan budget watchdog right just by the

00:26:15.240 numbers just shooting it straight well about a month ago the pbo released this report that

00:26:19.640 projected the deficit this year to be about 68 billion right so about 10 billion dollars less than

00:26:24.760 what the actual deficit is and then the pbo goes on committee and i thought that pbo did excellent

00:26:31.240 excellent he did and uh he used words like stupefying shocking unsustainable something is going to break

00:26:39.880 that was from the government's own independent budget watchdog that wasn't the canadian taxpayers

00:26:43.960 federation act committee this was the parliamentary budget officer and his deficit projections were

00:26:49.720 lower than the actual deficit and he's using words like unsustainable something is going to break

00:26:56.520 so this is very bad this is very urgent and chris let me just go look for canadians out there

00:27:02.280 listening or watching this show here's what you have to know this is important for you because you

00:27:07.480 got to cut through the spin because carny's talking about spending less he's not spending less

00:27:12.280 he's spending 38 billion dollars more this year billions of dollars more years into the future

00:27:17.240 we are not on a good fiscal track are you kidding me borrowing 80 billion dollars no plan to balance

00:27:22.440 the budget ever borrowing tens of billions of dollars as long as the eye can see no like it's up to

00:27:29.160 canadians up to you chris up to people who are watching or listening in the show to cut through the

00:27:33.560 spin and demand not fiscal restraint not a scalpel to demand the chainsaw yeah yeah we need it um

00:27:42.840 i gotta ask you because uh franco isn't just a great communicator he also has his degree in economics

00:27:49.480 so i lean on him for some of these terms um does it matter legit does it matter if the government is

00:27:57.640 splitting between operating budget and capital budget this is all debt that has to pay back that

00:28:04.920 it has to be paid back okay none of this is okay so a couple things um none of this is happening in

00:28:09.720 a vacuum either folks right it's not like the government have been running balanced budgets for the

00:28:13.720 last 10 years no the government just doubled the debt okay in 10 years and now you're adding another

00:28:19.720 80 billion dollars to the debt in one year like are you kidding me interest charges more than what

00:28:25.560 the government is sending to health care like no at this point if carney has these new priorities

00:28:29.720 priorities then he has to cut massively elsewhere you can't just keep spending more money on

00:28:34.440 everything forever right um but the second thing chris this ties home okay look what carney is doing

00:28:43.480 is essentially the same as what trudeau did for the last 10 years right trudeau talked about investment

00:28:49.000 what were the tens of billions of dollars in corporate welfare to multinational corporations

00:28:52.760 to build battery factories right trudeau used the terms investment look we already tried this failed

00:28:59.640 experiment right the government already tried to borrow its way to prosperity and what happened the

00:29:06.120 experiment failed we got 40 year high inflation where canadians can't afford the necessities of life

00:29:11.880 we have a stagnating economy been there done that does it matter lastly if carney is calling this

00:29:21.800 investing or spending like when it comes to like the international smart people okay with their

00:29:27.240 calculators who are figuring stuff out like what they're going to have our credit rating at as a

00:29:32.920 country does it matter if carney is calling what he's doing investing or spending because you're helping

00:29:39.560 people cut through the spin here when they're sitting there listening to these people talk

00:29:43.160 okay especially on mainstream media will point out we can't let them skate so is there a difference

00:29:50.040 between investment and spending it's a better word that politicians like to use that's it like i don't

00:29:56.120 know what the bond fund managers are going to do or the sorry the credit rating agencies are going to

00:30:00.200 do i have no idea okay but i do know that this is massively worrying for three reasons chris let me just

00:30:05.560 say them real quick uh number one as interest charges spiral out of control the government's

00:30:11.720 taking more tax dollars from you for awful services because more and more of your money has to go to pay

00:30:17.640 the interest on the federal government's debt number two guess what business and investors look at these

00:30:23.000 massive deficits and what does that signal to them tax hikes in the future right that makes them less

00:30:29.080 likely to actually set up shop in canada create jobs and create investment for our canadian economy okay

00:30:35.080 that's number two number three massive deficits especially when they're financed by the money

00:30:41.000 printer like they were during the pandemic leads to massive inflation okay so the three scenarios that

00:30:47.320 can come out of this is worse services as more money goes to pay interest on the debt okay a worse

00:30:54.680 economic opportunity as more businesses uh decide not to shut up set up shop here in canada because

00:31:00.520 there's going to be future tax hikes down the road and number three higher inflation a worse economy

00:31:07.160 higher inflation worse federal government services if that's even possible okay it's a five alarm fire

00:31:13.320 folks uh i wish we had better news for you but uh if i'm going to get bad news i want franco to

00:31:18.120 deliver it franco thank you so much for your time today man i appreciate it yeah sorry for being the

00:31:23.080 rain cloud no it's all right man all right that's once again franco terrazzano he is the federal

00:31:27.480 director for the canadian taxpayers federation he of course is stationed in ottawa and he was right

00:31:34.120 in there during the lockup reading the budget and we've been talking leading up to this budget a lot

00:31:41.800 and speaking personally i was wondering which prime minister mark carney was going to emerge from this

00:31:49.320 because so far we've been told a tale of two men we've been told one tale that he's got a phd in

00:31:57.080 economics from oxford super smart dude knows how to handle money he understands all of the mathing

00:32:04.600 that needs to happen here okay he was the head of the bank of canada was the head of the bank of

00:32:09.800 england things are going to change it's not going to be you know fancy socks and you know silly trips

00:32:15.560 anymore and then there's the other guy who wrote this book and if you have not listened to this book or

00:32:24.840 read it yet it's called values it is by mark carney it's endorsed by bono and carney references greta

00:32:34.040 thunberg throughout this book many times i strongly recommend you read this thing because he wrote this

00:32:41.560 when he was the un special envoy on blah blah blah and i went through the budget as fast as i could

00:32:48.920 and i'm going to be reading about it a lot later today i was looking for a number for the industrial carbon

00:32:54.120 tax and i was trying to find the numbers that he was anticipating for carbon tax tariffs which he

00:33:01.400 campaigned on okay and this is the guy it's not the economics guy that people were hoping was going

00:33:09.960 to actually drastically reduce the size and cost of our bureaucracy it's not actually the guy that

00:33:16.040 looks at the bottom line of the balance sheet and says holy smokes this is awful we're going to work

00:33:21.320 as hard and fast as we can to balance this budget for realsies and we're going to slay the deficit

00:33:26.920 the way previous liberal governments did back in the mid 1990s nope nope that guy's nowhere to be found

00:33:33.880 if he ever existed okay this guy's prime minister okay because there's language all through that budget

00:33:42.040 which is 498 pages long um that has no business being in a budget like the budget is supposed to

00:33:49.800 be some simple numbers okay it's supposed to show you how much extra money you're putting on the debt

00:33:56.280 or what your balance is okay are you in deficit are you in surplus that should be a number the total debt

00:34:03.160 should be that number on there too and what you're spending on debt servicing costs also known as interest

00:34:09.400 payments on the debt that should be the number okay so revenue money coming in expenditures money going

00:34:16.920 out deficit or surplus check and cost of the debt those are basically the four graphs that need to be

00:34:26.200 in a major federal budget give or take a few paragraphs in there but no it's like 498 pages long

00:34:33.960 um i will point out that he mentions industrial carbon taxes a lot in the budget the problem and

00:34:43.880 the catch is is he doesn't say as far as i can see how much it's going to cost you yet they're going to

00:34:49.240 be there they're going to be bigger they're going to be stronger they're going to be around for decades

00:34:54.840 he is baking it into our economy he also mentioned the so-called emissions cap i'm going to flag this for

00:35:02.200 alberta because it's not just alberta alberta is the engine of the canadian economy and they are

00:35:09.560 dumping ashes in it they are choking it off as hard and fast as they can because they mentioned

00:35:14.920 the so-called emissions cap which is really just a production cap on oil and gas the problem is is

00:35:22.120 they use that weird squishy futuristic language of maybe someday in the future there will be technology

00:35:28.520 blah blah blah blah and we can have a meeting and then maybe we won't even need the cap

00:35:33.400 they didn't come out and say the cap is gone bill c69 is gone no more pipelines um the ban on west

00:35:39.720 coast tankers that that's gone too we're going to get serious we're going to start getting our natural

00:35:44.600 resources to boom none of that language is in the budget okay it's a bunch of big government expensive

00:35:51.160 squishy nonsense so we need to figure out what got us here okay what mistakes have we made in the past

00:36:02.200 in our thinking okay that has led us up to this point and how on earth do we climb our way out

00:36:09.800 of this ocean of red ink of debt let's find out joining me now is dr john robson he is the executive

00:36:19.400 director of the climate discussion nexus and one of my very long time friends i know this term gets

00:36:25.800 thrown around a lot lately but he is indeed my favorite historian uh dr robson thank you so much

00:36:32.040 for joining us on the show today it's a pleasure it was not a pleasure yesterday looking at this budget

00:36:39.320 um and you and i have had many long conversations about thoughtful things and i gotta tell you i left

00:36:47.160 reading some of this budget wondering john do these folks think that money isn't real like it's a

00:36:55.320 social construct and that it doesn't matter what's your take on this budget it soon will be i i i

00:37:02.120 actually hate federal budgets when i my editor said can you go into the lockup i was thinking what

00:37:07.400 have i done to you now because it starts with the title is canada strong and then there's a picture of

00:37:13.560 a ship it's like what what is this ship what's this got to do with anything and what it should

00:37:18.840 say is canada's budget and then you should open it and should say here's how much we think we're going

00:37:23.880 to spend next year here's the amount we hope to take in and here's the already troubling gap between

00:37:30.520 the two instead you get a whole bunch of self-inflating gooblahoy about transformative this and

00:37:37.320 catalyze that and optimize the other a bunch of abstract verbiage that plays well at davos but that

00:37:45.320 doesn't have much of anything to do with the real world and this of course has worked for a long time

00:37:51.720 for these people they talk that way like they play this glass bead game and they they succeed mark

00:37:57.160 garney became fabulously wealthy saying nothing in this manner but at some point we need a budget and

00:38:03.080 and again you know we insiders know that you search summary statement of transactions i noted in my

00:38:09.960 national post column that the finance minister gabbles this is a budget that talks to everyday

00:38:14.920 canadians really you think they talk like that but we know search summary statement of transactions are on

00:38:21.880 page 248 they finally get to here's what we're going to spend here's what we hope to take in here's

00:38:29.240 what we think we're going to borrow and what we think we're going to borrow is 78.3 billion dollars

00:38:37.160 that's the big picture and then another reason i hate all this stuff is because then i get all these

00:38:41.880 press releases from groups saying oh this was a great budget we got money or this was an okay budget

00:38:47.560 we got some money but we want more money or this is an awful budget we didn't get money whereas the key

00:38:54.040 question ought to be what are they doing to our country what are they doing to all of us because

00:38:59.320 uh i found one of these just illustrative um the royal canadian geographic society applauds prime

00:39:05.560 minister carney's first budget saying this is proof our elbows are up no it's proof that spending is up

00:39:11.880 but they say they applaud it the government of canada's commitment to strengthening national identity and

00:39:17.240 unity through geographic education and storytelling so it doesn't matter that they're bankrupting the

00:39:22.360 country we're getting plunder in the short run i mean the cicero's warning about democracy only lasting 0.92

00:39:27.800 until they discover they vote's the key to the treasury so my look at this is the debt is going up

00:39:34.920 up up up up up spending is going up up up up up and then you get that stick where that yeah the deficit

00:39:40.680 goes down two years from now yeah sure it does i remember when brian mulroney said that would happen

00:39:45.800 and then it's so mendacious the language in which it's couched is so removed from a world in which

00:39:53.080 you can't get the cra on the phone but why would you want to because what they tell you is always wrong

00:39:58.120 or when they spread out this vaunted dental benefit then they paid a bunch of money to people who

00:40:02.200 weren't eligible i mean this is the organization that has stats can and our tax records how do they not

00:40:08.760 know who's eligible they can't do anything they can't buy military equipment we have a crisis of

00:40:14.360 competence in this country and the government is on the verge of insolvency but when you read this

00:40:18.680 budget there is no hint that this is going on and if you look at most of the commentary on it i i've

00:40:25.960 sit in the lock up looking at my fellow journalists and wondering uh what planet they came from and

00:40:30.840 which one they're going back to when it's all over because they'll talk about oh so they've removed

00:40:35.400 the luxury tax on yachts and of course you know it's important what's in the tax code but a budget

00:40:40.920 isn't about little fiddles and who has a tiny win and who has a bitter loss it's about what is

00:40:47.400 happening to our long-term prospects because growth in productivity investment all that stuff depends

00:40:53.880 upon low and simple taxes clear effective appropriate regulations and the government

00:40:59.640 getting the heck out of the way and unleashing the energy of private citizens and this budget has

00:41:05.400 nothing to do with any of that but when you look at the talk shows and and the learned commentary

00:41:13.240 you just get the feeling that nobody understands the process inside or even outside the government

00:41:19.320 i agree um just to rewind the tape a little did that news release actually say our elbows are up

00:41:27.080 that's what that one said i was i was quoting when i when i want to really give somebody the knuckle

00:41:31.000 bone shampoo i don't paraphrase that's not fair i i give their words over the climate discussion nexus

00:41:37.400 people chide because i'm always saying and they said quote and then i read it and they say unquote

00:41:41.320 but the point is if you're going to go after somebody for what they said you should go after

00:41:45.560 them for what they really said speaking of which i want to point out a couple of things in the budget

00:41:51.320 that are just absolutely to me astronomically deceitful and i wonder if anybody else is paying attention

00:41:57.480 and this is on page seven so they didn't hide this one there's a chart growing our economy by spending

00:42:02.920 less to invest more and spending is when the government takes money and spends it and investment

00:42:07.800 is when the government takes money and spends it but here apparently the theory is spending is on dumb

00:42:13.000 stuff and investments on wise stuff and we're meant to believe they know the difference they just never

00:42:17.400 told us or did anything about it till now but then the legend is percent of deficit and they have this

00:42:24.680 lovely teal line showing that capital investments will go from 58 of the deficit to 100 within five

00:42:31.320 years and day-to-day operating spending will drop to zero percent of the deficit so they're not running

00:42:37.080 a deficit on day-to-day operating spending well isn't that thoughtful of them no there's no social

00:42:42.200 programs aren't even on the chart which of course is where most of the money goes so that's already a

00:42:46.360 lie but here's the big thing these various expenditures are not tied to specific revenue sources so there

00:42:54.280 is no way of knowing how much of the deficit came from this or from that if operating spending is

00:43:00.680 60 and capital investments 40 then 60 of the deficit comes from the former and 40 from the latter just

00:43:08.600 as 60 of the money you actually got to spend on the former and 40 of the latter this is absolutely

00:43:14.760 it's just lying with mathiness and there are two possibilities one is they're lying to you on purpose and

00:43:19.720 they're rogues the other one is they don't even know that what they're saying is gibberish and they're

00:43:24.040 fools and of course the two are not mutually exclusive but this is such a deceitful budget and

00:43:30.280 reading it doesn't tell you anything you need to know about the national finances or this chart 42 of

00:43:35.960 budget 2025 is to strengthen canadian sovereignty and 36 is to bring down costs for canadians now does that

00:43:43.080 mean 42 of spending is to strengthen canadian sovereignty no it's 42 of some weird assessment

00:43:50.680 of changes and then it's again it's done in teal teal's a good color nice work cobs but here what's

00:43:56.360 in bringing down costs for canadians 36 10 billion is middle class so this is the light blue middle class

00:44:03.560 tax cut canceling the consumer carbon price build canada homes protecting our sovereignty 42 12 billion is

00:44:11.800 investing in defense tariff response and building a strong economy which is like insects numbness and

00:44:17.800 counting things in base 12 right these are three things that bear no relationship to one another

00:44:21.640 whatsoever and they're lumped together because you get a pie chart in three contemporary colors

00:44:27.480 this is not an attempt to level with us about the state of the national finances this is an attempt to

00:44:33.640 soothe us in so that we fall completely asleep while they mismanage the economy until the crash comes

00:44:38.840 and we wake up and go what happened and they'll be blithering on or else they'll leave the country

00:44:43.640 for some lucrative post abroad uh it's terrible and yet we we tolerate this we don't say i want

00:44:49.480 something called budget 2025 that has that summary statement of transactions on the first page

00:44:55.560 followed by an apology for having lied to us during the campaign about the deficits they were

00:45:00.120 going to run and then an admission that the reason that we're spending so much and we keep spending

00:45:04.600 more and we keep borrowing is we have no idea how to control this thing we spent years in many cases

00:45:09.720 pursuing a career in politics but we never studied governance and we don't understand how it works

00:45:14.440 we don't know why brian marooney tried to control the deficit and failed we don't know why stephen harper

00:45:19.080 who was a libertarian when he came in ran deficits that were so big that we thought they were shocking

00:45:23.400 until justin trudeau did worse after telling us three small deficits then balanced budget we don't

00:45:29.640 understand why people are failing in other countries to balance the budget because we know nothing about

00:45:34.200 budgets and we therefore are unfit for our jobs and we resign what else can they say when what they

00:45:39.720 promise and what they deliver are so absolutely radically different and they get up there and like

00:45:44.760 oh well this is a transformational budget and we're building canada what's what's building canada

00:45:49.560 canada's already here see i'm in canada i'm standing on it how could i be if it weren't built

00:45:54.760 it's just it's this weird trendy gibberish and they look so pleased with themselves

00:46:03.000 while they mismanage our affairs and deceive us about it yeah so as i said i i hate budgets hate them

00:46:09.320 you understandably so um i saw the frana finance minister uh francois champagne people call him frankie

00:46:15.800 bubbles saying oh everybody can just sleep well at night tonight yeah this this is the guy who gave

00:46:21.800 billions to evs saying this is about what happens in the next 100 years and then in the next 100

00:46:28.760 days the thing folded up right how does this guy get the idea that he's good at what he does how does

00:46:35.560 he get the idea that he understands this stuff why does nobody say oh here's another one this is from

00:46:40.520 his forward to the budget the world is changing profoundly and in real time we are no longer living

00:46:46.680 in an era of calm but a significant change and so i'm looking like when is this era of calm the 1930s

00:46:52.280 yeah they were calm the 70s the early 80s uh you know after 9 11 and and changing in real time

00:47:01.800 when did the world change in false time you see this doesn't even resemble thought he's up there

00:47:07.960 blah blah blah and he has no idea that's the sad part it's like i talk about them deceiving us and

00:47:16.040 they are they do lie a lot but on the big picture they're not kidding us they're as confused as they

00:47:21.720 see uh it goes on mainstreaming advanced methods what you you don't know what that means you couldn't

00:47:28.440 possibly explain that this is like bluffing us in an undergrad essay or government itself must become

00:47:33.880 much more productive by right sizing cutting red tape and wasteful spending yeah they've been saying

00:47:39.480 that for 60 years and they've never gotten anywhere near the mark and you don't know why you don't even

00:47:44.200 know that you think you're the first person who ever cared it's preposterous we're going to make

00:47:48.840 generational investments that will build our country we will protect and transform our strategic

00:47:53.480 industries build a stronger economy and invest in ourselves you know this sounds speaking of almost 60

00:48:01.320 years not quite but this sounds a lot like the first trudeau of let's build let's have governments

00:48:07.480 do everything let's have us involved in absolutely everything with taxpayers money to boot and we wound

00:48:13.640 up in a debt spiral and then his kid came along and in 10 years doubled the national debt it was astonishing

00:48:22.360 truly astonishing but yeah and i i had dr robson call me naive i was naive i had this little tiny

00:48:30.120 sliver a sliver of hope that the guy carny with his phd in economics was going to be better than the

00:48:37.240 dude with the silly socks with money with money but he's not how is he not why are we back at the first

00:48:45.320 trudeau it feels like we're going to be digging out of this hole for decades the same way we were kind

00:48:51.720 of trying to do in the late 80s and 90s like are we just repeating history again here well yeah because

00:48:59.000 we we don't pay any attention to it i mean i i don't think he was particularly naive but of course

00:49:04.120 everybody hoped that carney would be the adult in the room and he ran as the adult in the room he did

00:49:08.760 but then again if you looked at his record right he was a bad central banker who thought he was a good

00:49:13.080 central banker you know in england they nicknamed him the unreliable boyfriend because he kept changing

00:49:18.200 his mind when it came to the one practical thing he was meant to do set the interest rate he was frivolous

00:49:24.840 mistaken and unreliable and other than that you know if mark carney's got this gigantic brain

00:49:32.600 why didn't he say to us you know in the last 40 years we have learned that there are certain things

00:49:37.400 government does not appear able to do well yeah that's been tried over and over in lots

00:49:42.040 of countries i've been flying around i've been in those countries talking to their important people

00:49:46.280 and i can tell you what governments don't do well and why they don't do it well but have you ever

00:49:53.000 heard him say one word of that i mean i agree it's not just that they think government can do

00:49:57.080 everything better than the private sector that any dollar that finds its way from your wretched pocket

00:50:02.200 into the glorious purse of the state will be far better used you know remember christia freeland we

00:50:07.320 can't afford not to that was her mantra on everything because she thought every dollar of government

00:50:11.640 spending even the stupid stuff gave us back at least you know dollar ten whereas when you go out

00:50:16.680 and spend money on beer and popcorn it's just gone and carney it's not that he thought about

00:50:22.120 this and got it wrong he's never thought about it that's the terrifying thing these people are not

00:50:27.960 secretly having deep thoughts even malicious ones you know the conspiracy theorists about davos no

00:50:33.240 davos is a place for self-satisfied people to babble platitudes and mistake them for wisdom

00:50:37.800 that's what happens there and they come home to the same thing i mean what's carney done since he

00:50:41.880 became prime minister he's flown around babbling platitudes to the prime minister of iceland and

00:50:46.680 other such luminaries he hasn't sat at his desk looking at spending proposals and going no that

00:50:52.920 one isn't a good idea or even it's a good idea but not today he has not he doesn't sit at his desk and

00:50:59.800 make decisions he flies around exchanging verbiage with people and we because we let them right again

00:51:06.840 don't forget this happened because we vote for these people and i agree i agree that the uh alternatives are

00:51:12.840 often worse i was just commenting about the united states right obama's so bad people elected trump

00:51:17.720 trump was so bad they elected biden biden and harris were so bad they re-elected trump trump was so bad 0.84

00:51:23.000 again they've just elected mondani nobody should be proud of this at any party pierre polliver has

00:51:29.240 serious shortcomings as a leader he doesn't seem to have grown up his his response to the budget was

00:51:34.200 well they say talk is cheap but not when a liberal finance minister does it which was a half funny gag in a

00:51:39.640 model parliament in 1980 what uh where is anything i mean i you know i would quote this my favorite

00:51:47.320 incident incident of all time in politics is benjamin disraeli saying of his rival lord john russell

00:51:53.320 that if a traveler were informed that this man was leader of the house of commons he might begin to

00:51:57.720 comprehend how the egyptians worshipped an insect you know and and these people had real serious

00:52:03.320 discussions about real serious issues they didn't always get them right sure but it was a bunch of

00:52:07.160 grown-ups trying to think things through and sharing with the electorate what they thought

00:52:12.040 we have nothing like that and we don't get it again i'm sorry but the fault isn't in our stars

00:52:16.920 we don't ask for it we let our school system not give children in english class one single book from

00:52:24.120 the canon of english literature over four years and then we say oh there's an education crisis i guess the

00:52:29.720 government should spend more money no the government should spend less money we should privatize the

00:52:34.360 universities right we need to start thinking differently about what we do and the politicians

00:52:39.720 will follow us but they're look at this budget they are not going to lead us there is nothing in

00:52:44.280 that budget like right sizing and you know cutting wasteful spending this is the old paper clips

00:52:48.920 arguments uh there are no programs there are no significant programs that they think are just a bad

00:52:55.560 idea that government shouldn't do it can't do it or both and they should get rid of them and i've been

00:53:00.520 asking that question of conservative politicians for 25 years and none of them can think of anything

00:53:04.360 it's preposterous who's saying repeal the canada health act not even the conservatives maybe max

00:53:10.920 bernier would say it um but but he'd be the only one it's and yet we and then we complain and we grumble

00:53:18.040 we say oh those politicians they're no good well don't put your faith in politicians and as i've said

00:53:23.080 before one of the things people need to do especially this floor crossing reminds us put your money your

00:53:28.680 effort and your hopes into building the conservative infrastructure like oh i don't know juno news or

00:53:34.360 the climate discussion nexus politics is downstream of culture and people in this country give millions

00:53:39.800 to conservative parties who then produce doug ford or aaron o'toole or i don't know bob stanfield or

00:53:47.000 this floor crosser don't give them your money give us your money because we really believe in the 0.99

00:53:52.840 principles and we will change the climate of opinion in such a way that you actually get better

00:53:58.040 government don't wait for us to hit the wall do something today dr robson i want to leave uh on

00:54:04.920 this note and you mentioned earlier about history and europe and all that fun stuff did i wake up in

00:54:12.920 the 19th century where europe was the manufacturing superpower and we should be cozying up to them

00:54:19.720 why am i reading through this budget and seeing all sorts of squishy language about aligning ourselves

00:54:26.520 more and more and more economically with europe like you can love it for its history and our

00:54:31.160 culture and all that other wonderful stuff but like did they suddenly become an economic and

00:54:36.280 manufacturing powerhouse that we need to be dealing with more closely like can you explain

00:54:41.240 why we're trying to economically align ourselves more there well you mentioned trudeau senior and of

00:54:46.760 course this was one of his signature plans we will diversify our trade away from the united states

00:54:52.280 you know 40 years later his kid's trying to do it 50 years later mark carney's trying to do it and

00:54:57.640 none of them have given any thought at all to why it didn't work last time they do not read economics

00:55:03.160 i mean well i guess carney must have read something maybe it was john kenneth galberth i don't know

00:55:09.240 hayek um and and they don't read history not even the history of canada they have no idea why things

00:55:15.240 work or don't work they have no set of examined principles and their tacit principles are basically a

00:55:21.080 load of cliched rubbish and then again and you can't get the conservatives to stand on principle

00:55:26.280 either you don't go no we're not going near the social issues you know we're not going to cut

00:55:32.040 spending we're conservative vote for us oh shut up you're not you're not conservative and you're not 0.97

00:55:39.400 dependable because you do not stand on the solid rock of ideas and it doesn't even work the

00:55:46.760 conservatives you know lunging for the brass ring decade after decade and being outsmarted by the

00:55:51.160 liberals which is not something i would boast about and they're the liberal because they're the

00:55:55.640 liberals sit with with bad ideas terrible policies and these charts that are just lying through their

00:56:03.880 stained yellow x and y axis dr john robson uh historian columnist and executive director of the climate

00:56:12.760 discussion nexus go check out all of his videos on youtube and can you tell this is why he's my

00:56:18.680 favorite historian and a friend dr robson thank you so much for joining us on the show always a

00:56:23.640 pleasure once again go check out dr john robson's work uh he's got great analysis and he has a mind like

00:56:31.400 a steel trap he remembers stuff from decades ago which matters today which is why reading history is

00:56:38.840 important because if you don't know where you've been you can't know where you've gone or where you're

00:56:43.960 headed towards that was actually prime minister at winston churchill so i can't take credit for that

00:56:49.000 quote folks this has been a longer show than usual because we had to do a deep dive for you on this

00:56:55.080 budget we had to tell you the truth and cut through the spin and actually deliver the numbers from this

00:57:02.200 budget which would actually take up around five pages instead of 498 of them the important thing

00:57:10.360 here is that you are able to tell your friends and family no we are not saving money we are spending

00:57:17.480 more money no they're not investing they're spending more of your money it's going to cost you more in

00:57:24.840 debt interest charges and this is a five alarm fire it shows like this that are delivered by juno news so

00:57:33.880 if you can please head over to juno news and subscribe to it support independent journalism support

00:57:42.200 independent media and at the very least please like this video on youtube and remember to share it

00:57:48.680 with people who need to know

Juno News - November 06, 2025

Carney’s First Budget： Record Debt, Rising Costs

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