Juno News - December 29, 2019


Trudeau and Morneau don't seem to care about the economy


Episode Stats


Length

2 minutes

Words per minute

147.9805

Word count

425

Sentence count

33

Harmful content

Misogyny

2

sentences flagged


Summary

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

Just in time for Christmas, StatsCan reported the economy shrank 0.1% of GDP in October. This was hard on the heels of a job report outlining the loss of 71,000 jobs in November. On Monday, Finance Minister Bill Morneau delivered a fiscal update detailing how the deficit has gone from 19.8 billion to 26.6 billion and a projected 28.1 next year. And this is before we factor in the cost of the Liberals' election promises. Add to that inflation is now running at 2.2%, the highest in more than a decade.

Transcript

Transcript generated with Whisper (turbo).
Misogyny classifications generated with MilaNLProc/bert-base-uncased-ear-misogyny .
00:00:00.000 Merry Christmas Canada. Just in time for Christmas, StatsCan reported the economy
00:00:10.380 shrank 0.1% of GDP in October. This was hard on the heels of a job report
00:00:15.840 outlining the loss of 71,000 jobs in November. On Monday, Finance Minister Bill
00:00:23.160 Morneau delivered a fiscal update detailing how the deficit has gone from
00:00:27.480 19.8 billion to 26.6 billion and a projected 28.1 next year. And this is
00:00:34.480 before we factor in the cost of the Liberals' election promises. Add to that
00:00:39.240 inflation is now running at 2.2%, the highest in more than a decade. Retail and
00:00:45.060 wholesale spending is down, as is the manufacturing sector. Economists are
00:00:49.480 downsizing their growth projections to barely over 1%. But good news. In a year-end
00:00:55.500 interview with CTE's Lisa Laflamme before jetting off to Costa Rica, the Prime
00:01:00.000 Minister said he disagrees with the economists who are sounding the alarm
00:01:03.600 on the Canadian economy. Mill workers in BC are being laid off, as are auto workers in
00:01:10.380 Oshawa. Oil and gas workers in Alberta continue to feel the burn of the policies
00:01:15.120 of this Liberal government. And all this news comes just before Christmas, which
00:01:19.740 should be a time of joy and happiness. But there are a whole lot of Canadians who
00:01:24.740 have no reason to feel joy this season, as they face a future of limited income and
00:01:29.640 higher taxes. Make no mistake, this is all the fault of the Liberal government and
00:01:36.060 their economic policies. The imposition of higher payroll taxes on employers, the
00:01:42.420 carbon tax on all Canadians, and more burdensome regulations all contribute to
00:01:46.920 stifling economic growth. One would think this should be obvious to the Liberals.
00:01:53.520 One need only look at our neighbour to the south to see the effect of lowering taxes, eliminating
00:01:58.720 needless red tape, and getting out of the way of business. The US has the lowest unemployment 0.83
00:02:05.520 rate they have had in 50 years, and an economy with a GDP growing between 2.6 and 4%. Meanwhile,
00:02:14.800 the Prime Minister was flown to Costa Rica on taxpayer's dime. The plane he was flown on returned empty
00:02:21.400 to Canada. It will have to deadhead back there to pick him and his entourage up at the end
00:02:27.180 of his latest holiday. Carbon footprint be damned.
00:02:31.400 How dare you! 0.99
00:02:33.400 Morneau, on the other hand, was busy chastising Conservatives who were warning Canadians of the
00:02:38.700 real dangers of a recession. The economic red flags are not good, and neither Trudeau nor Morneau
00:02:46.300 seem to care. Merry Christmas, Canada. For True North, I'm Leo Knight.