Max Genest - November 04, 2025


MARK CARNEY'S BUDGET： A $70 BILLION DISASTER

Hosted by
Max Genest
Mentioned
Mark Carney
Toronto's Demographic Shift is Catastrophic Bill C-3 Tarnishes Canadian Citizenship

Episode Stats


Length

2 minutes

Words per minute

171.98

Word count

511

Sentence count

36

Harmful content

Hate speech

1

sentences flagged


Summary

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

It's Budget Day, and it's one of the most important days in Canada. Prime Minister Mark Carney is tabling his first ever federal budget, and MPs are debating it for the next two weeks, before voting on it on November 17th.

Transcript

Transcript generated with Whisper (turbo).
Hate speech classifications generated with facebook/roberta-hate-speech-dynabench-r4-target .
Hosts, guests, and mentioned names generated with spaCy (en_core_web_sm), reconciled against Wikidata.
00:00:00.000 Today is November 4th, and it is one of my favorite holidays, Budget Day!
00:00:04.860 It's one of the most important days in Canada.
00:00:07.380 Prime Minister Mark Carney is tabling his first ever federal budget.
00:00:11.460 So for the next two weeks, MPs debate the budget, then on November 17th, they vote.
00:00:16.080 Because the Liberals aren't a minority government, they need support from other parties to pass it.
00:00:21.300 So, if most MPs vote against it, the government loses confidence, and that will trigger an election.
00:00:27.760 Now, let's look at what's actually inside this budget.
00:00:30.580 The government is presenting it as a mix of restraint and investment.
00:00:33.920 But the numbers tell a completely different story.
00:00:36.640 Ottawa still plans to run a $70 billion deficit.
00:00:40.640 That's not discipline, that's complete chaos.
00:00:43.280 They're trying to sell that as fiscal responsibility by pointing to what they call
00:00:47.320 a comprehensive expenditure review.
00:00:49.960 That cuts 15% from most departments, while National Defense, the RCMP, and CBSA only
00:00:55.580 face about 2%.
00:00:56.280 On paper, this looks like restraint, but it's not because, remember, billions are still being spent
00:01:02.660 on corporate subsidies tied to green transition projects, a $9 billion defense boost to reach
00:01:08.120 NATO's 2% target, and larger budgets for agencies like the RCMP and CBSA, which were mostly spared
00:01:14.500 from the cuts. On top of this, there is a complete lack of honesty where the budget avoids
00:01:19.540 immigration. One of the country's biggest issues. They have no plan, no targets, and no transparency. 0.86
00:01:26.280 So overall, the budget is deeply flawed and the liberals cannot claim they're cutting spending
00:01:31.680 while borrowing this much money. Calling this restraint is a lie. Mark Carney built his
00:01:36.640 entire career off this system. He is not some financial guru. He is a banker who made money
00:01:42.580 from government subsidies. Brookfield Asset Management, the firm he ran, profits from
00:01:47.580 taxpayer-funded green projects, grants, and bailouts. That's who's running Canada's economy
00:01:52.620 now, a man who treats debt like profit because someone else always pays the bill. The Liberals
00:01:58.380 keep calling all of this an investment, but an investment only makes sense if it creates a
00:02:03.060 return. You buy a stock, you expect profit, you plant a seed, you expect growth. Most of these
00:02:08.600 programs do not return anything to Canadians. They funnel money through multinational firms
00:02:13.520 and consulting networks that live off government funding. The same insiders and corporations tie
00:02:18.780 to people like Mark Carney. This is one of the reasons why inflation hasn't cooled. Every borrowed
00:02:24.700 dollar dilutes the one you already have. When the government runs a deficit, it's spending more than
00:02:29.840 it collects in taxes. So to cope, they borrow and print more money. And that extra money in the
00:02:36.000 system causes inflation, which means every single dollar Canadians already have is automatically
00:02:41.300 worth less. The deficit drives inflation, and inflation is a hidden tax. You feel it every
00:02:47.400 time you buy groceries pay rent or fill up your car for now the facts are simple ottawa says it's
00:02:53.800 being responsible the numbers say otherwise and canadians are the ones paying for it