Rebel News Podcast - November 06, 2026


EZRA LEVANT ｜ Masters of whose destiny？ Carney's budget hands the country to his friends

EZRA LEVANT ｜ Democrats sweep Congress and take Texas as DeSantis warns of a decade-long hit to Republicans Paraguayans woke up locked out of their bank. Could it happen in Canada？ ｜ Presented by Guildhall Wealth

Episode Stats


Length

36 minutes

Words per minute

165.56

Word count

5,964

Sentence count

283

Harmful content

Hate speech

2

sentences flagged


Transcript

Transcript generated with Whisper (turbo).
Hate speech classifications generated with facebook/roberta-hate-speech-dynabench-r4-target .
00:00:00.000 Hello, my friends, I'm going to take you through yesterday's federal budget, not from the point
00:00:05.260 of view of a right winger, but from the point of view of a left winger, or just a young person
00:00:09.400 who's trying to figure out what capitalism is, because it sure doesn't look appealing the way
00:00:13.920 Mark Carney describes it. That's ahead. But first, let me invite you to become a subscriber
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00:00:57.860 tonight carney's budget it's not capitalism it's crony capitalism it's november 6th and this is
00:01:17.320 the ezra levant show shame on you you censorious bug
00:01:27.860 the federal budget came down yesterday francois philippe champaign read it
00:01:37.460 mark carney wrote it here are the numbers straight from the government's own tables
00:01:41.420 deficit this year 62.3 billion dollars next year a little bit higher 62.5 billion it never gets
00:01:49.340 below 52 billion dollars as far out as they bother to forecast federal debt goes from 1.3 trillion
00:01:56.400 to $1.6 trillion, another $287 billion in five years. What a gift to our children. And
00:02:05.120 congratulations. And here's the one that could stop you cold. By 2030, interest on the debt will
00:02:10.840 be $85.5 billion a year. By the way, for comparison, the Canada Health Transfer, all the
00:02:16.560 money Ottawa sends the provinces for hospitals will be less than that, $67.7 billion. We're paying
00:02:24.060 a credit card debt. We're paying more for debt service than we pay for doctors and nurses in
00:02:30.020 all our hospitals. That's Annex 1, Table A18, if you're following along. Now, a lot of people have
00:02:36.960 criticized this budget. Pierre Polyev called it mastered by debt. That's a riff on masters in our
00:02:43.480 own domain, masters of our own country talk that liberals have. The minister would have more aptly
00:02:49.780 named this Budget Mastered by Debt that will inflate the cost of food, fuel and housing.
00:03:00.620 The first priority of this Budget should have been to save Canadians money.
00:03:06.320 But by adding $765 billion in new debt, a record-smashing sum over the next five years,
00:03:15.980 This prime minister will inflate the cost of fuel, food, and homes.
00:03:22.220 This is a costly credit card budget that Canadians can't afford, and conservatives will vote no.
00:03:28.060 But the critique I want to talk about tonight actually came from the left.
00:03:31.400 It was Avi Lewis who did a TikTok video.
00:03:33.540 He's so much smarter than Jagmeet Singh, isn't he?
00:03:36.840 And I think that's because politics is in his blood.
00:03:38.980 He's the NDP leader, of course.
00:03:40.720 He's the son of Stephen Lewis and the grandson of David Lewis.
00:03:44.100 That's three NDP leaders in three generations.
00:03:48.960 And by the way, David Lewis coined the phrase corporate welfare bums 50 years ago, which was a riff on welfare bums.
00:03:58.380 Anyhow, he's standing on Parliament Hill holding up a chart he printed out.
00:04:02.980 And here, take a look.
00:04:04.920 Hey, everyone. I am here on the Hill. It is budget day.
00:04:07.800 I've been schlepping around this 550-page document.
00:04:10.900 Me and the team have been trying to make sense of it.
00:04:12.800 Here's a quick take.
00:04:14.100 budgets are about a government's priorities it's where the rubber hits the road where what are you
00:04:18.020 spending money on who do you value buried in this budget was a chart so unbelievably revealing i
00:04:23.380 just had to print it out for you look at this one third of the spend in this budget is for people
00:04:29.300 two-thirds for tax breaks tax credits mega deductions for investors and big corporations
00:04:36.420 it's christmas come early if you're a big investor in this budget the one biggest item in the entire
00:04:43.380 thing the single biggest item is this mega deduction 36 billion dollar bigger tax break
00:04:48.660 for big corporations and major investors they call the budget masters of our destiny unreal
00:04:56.020 who are the masters of our destiny i know what they're going for but all i can think of
00:05:00.020 is the wealth funds and private equity moguls who gathered in september in toronto at the prime
00:05:04.820 minister's investment summit if you are struggling with the cost of groceries trying to pay your
00:05:08.980 cell phone bill the rent or the mortgage this government is not focused on you it's focused on
00:05:15.680 them he says the single biggest item in the whole thing is the 36 billion dollar productivity mega
00:05:22.600 deduction for corporations then he gets to the title they call the budget masters of our destiny
00:05:29.080 unreal who are the masters of our destiny and his answer is the wealth funds and private equity
00:05:35.160 moguls who gathered in september in toronto at the prime minister's investment summit he says
00:05:41.360 if you're struggling with the cost of groceries try to pay your cell phone bill the rent or the
00:05:44.740 mortgage this government is not focused on you it's focused on them now this is how communists
00:05:50.040 talk and abby lewis i think is fairly called the communist and my first instinct is always to
00:05:55.160 contradict him in fact we have a website called abby lewis.com where we have a lot of info about
00:05:59.980 him um but i watched it twice and i have to tell you he's actually partly right i mean partly wrong
00:06:07.400 but here's what he gets right mark carney does talk like a businessman i mean listen to the
00:06:13.920 vocabulary chapter one of the budget is literally called canada's investment super cycle there's a
00:06:20.860 major projects office there's a canada strong fund that's a 25 billion dollar sovereign wealth fund
00:06:28.200 seeded with your tax dollars that will start selling Canada strong notes to retail investors
00:06:34.800 next year. There's an investment summit where Carney says he unleashed $500 billion, mergers,
00:06:41.480 equity stakes, co-investments, concessions. He sounds like the Goldman Sachs banker he was for
00:06:47.680 13 years. So Abbie Lewis says, look, Carney is running the country for business. And the natural
00:06:55.200 response from a conservative would be to say well that's good business is how you create wealth but
00:06:59.460 here's the thing what Carney is doing is not capitalism it's not the free market it's crony
00:07:07.580 capitalism it's insiderism that's a government lavishing money on its friends it pretends to be
00:07:15.140 entrepreneurialism it is there's nothing entrepreneurial about it capitalism free
00:07:19.920 market is when you risk your own money when you have a go of it with the government getting out
00:07:24.340 your way. This is when the government risks your money and gives the money, gives the cash,
00:07:31.920 the investment to people it knows, to its own friends. Let me show you three examples all from
00:07:36.280 this budget. Number one, the airports. Chapter one says the government will hand the four biggest
00:07:41.720 airports in Canada, Toronto, Vancouver, Montreal, Calgary, to private operators on a 40 to 50 year
00:07:47.680 concession and says it has already set aside more than $37 million for due diligence.
00:07:53.340 the operator gets picked by early 2029 who gets a piece of it well the budget tells you
00:08:01.040 quote equity stakes for the canada strong fund so the government's own new fund takes a cut of the
00:08:08.680 deal the government is making now who buys airports toll roads and ports on on 50-year
00:08:13.800 concessions for a living well big infrastructure funds pension funds private equity firms like
00:08:19.320 Brookfield where Mark Carney was the chairman until the day he ran for leader. So the former
00:08:23.760 Brookfield chairman announces a 50-year concession on the country's airports with the government's
00:08:29.780 fund as the senior partner. And the bidders just happen to be the people he flew in for his summit.
00:08:38.260 So this is not a market deal. This is not an open processor for the free market. This is a deal
00:08:45.420 between friends with you providing the dough. I am for privatization, actually, big time. I remember
00:08:53.740 when Alberta privatized liquor stores a generation ago, huge success. They said it couldn't be done
00:08:58.880 and they went on to privatize the registries and so on and so on, became a model for the country.
00:09:03.740 And that's just starting small. I think the same ought to be done for most government agencies,
00:09:09.360 starting with the CBC. I'm open to airports being sold and more importantly, being run with a
00:09:15.300 private sector mindset, such as putting customers first. There are some private airports in the
00:09:20.760 world, and you can tell how amazing they are compared to the government-run ones. I want this.
00:09:27.620 But that's not what Carney's talking about. His is a kind of post-Soviet Union kind of 0.61
00:09:33.520 privatization. Remember what happened there? They had all these state-run factories and utilities,
00:09:37.740 but insiders got to make the offers insiders had had it all sewn up from the inside
00:09:45.100 i i think that's probably a closer analogy to what carney's doing here
00:09:50.500 the second example is the check list go through the budget and write down every company that gets
00:09:56.820 a direct check loan or equity stake from ottawa here's a sample up to 1.6 billion dollars in
00:10:04.440 Equity for Cohere. That's an AI startup in Toronto. Up to $2.5 billion in financing for
00:10:10.760 de Havilland to build water bombers. $500 million for the Red Chris Mine. $4 billion for Forestry
00:10:17.660 Sector Accelerator. Up to $3 billion to build two can-do reactors in Romania. $2 billion from
00:10:25.560 the Canada Growth Fund plus $970 million from the Infrastructure Bank for Darlington. Some of these
00:10:30.940 might be fine businesses but if they were why would they need ottawa to pick them i mean
00:10:37.380 private money would pick them especially that ai company cohere there are trillions of dollars
00:10:43.700 sloshing around for anything interesting anything with the letters ai in it if if the private sector
00:10:52.060 isn't financing cohere that tells you something why is the federal government putting a billion
00:10:58.920 and a half in it. I think that's the tell. Here's the quote that gives the whole game away. It's in
00:11:04.320 chapter six of the budget. The government says it, quote, expects financing crown corporations
00:11:09.220 to have a greater risk tolerance than private sector peers. What? The government is telling
00:11:16.960 its own government lenders to take bets that the private sector won't take. With your money,
00:11:24.880 that is not an investment strategy that that's literally a definition of the bad investment
00:11:30.720 to to invest in things where it makes no sense to do so do that with your own money that is not even
00:11:39.640 investing that is gambling if you want to do that with your own money fill your boots you know
00:11:45.080 people do but to take the tax dollars of ordinary canadians and say we are going to deliberately
00:11:52.540 give these to companies that no bank would be crazy enough to give it to that is terrible
00:11:59.160 i'll tell you one thing that's not capitalist point three pipelines and i know i'm for pipelines
00:12:08.260 i've been for pipelines for 20 years but why is the government building them ottawa already owns
00:12:14.160 one trans mountain they bought it for 4.5 billion and spent another 30 billion building it now
00:12:21.720 Alberta is putting two and a half billion dollars of public money into the next one. And the federal
00:12:26.580 major projects office has blessed it as a project of national interest. But again, the government's
00:12:33.300 thumb is on the scale, forcing companies to spend billions of dollars on carbon capture. That's why
00:12:41.000 no one wants to ship oil through the government pipeline. In 2010, private companies lined up
00:12:47.820 to build pipelines with their own money. Ottawa blocked them. There was no need for government
00:12:54.400 investments. Fifteen years later, Ottawa builds them itself with your money and calls it an
00:13:01.060 investment super cycle. By the media, you're so gullible. An investment super cycle? Write that
00:13:06.860 down. That's amazing. Did you hear that, guys? He called it a super cycle. That's not capitalism.
00:13:14.040 that's a government that broke the market and now sells you the repair. They say that
00:13:18.640 they're going to, they're basically pretending to be business people. And who decides which
00:13:23.820 projects get the money? Who sits in that major project's office? What do they actually do in
00:13:28.580 there all day? Who runs that $25 billion Canada Strong Fund, by the way? Carney, 13 years at
00:13:36.480 Goldman Sachs, then chairman of Brookfield, the biggest infrastructure investor in the world,
00:13:40.500 really his energy minister tim hodgson 20 years at goldman sachs his clerk of the privy council
00:13:47.340 michael sabia ran the case de depot that's an investment arm in quebec his chief of staff
00:13:52.420 mark-andre blanchard came from the case too these aren't people who actually built a business by
00:13:58.780 the way they're people who moved other people's money around and took a fee they're not people
00:14:04.660 who start something from scratch and build it up so now they're sort of doing that with the whole
00:14:10.480 country. And they're crowding out actual entrepreneurs. There's a reason why all the
00:14:16.100 AI spending is in the States. Since when is the free market a room full of former Goldman
00:14:21.800 and Brookfield men deciding which companies get a government check? That is not free enterprise.
00:14:27.360 Even the budget's own impact report admits it. It calls one of the new capital gains breaks
00:14:32.520 strongly regressive. 84% of the people who benefit earn over 200 grand a year. What are you doing
00:14:38.680 shifting money from the poor to the rich i just don't get it that's annex four
00:14:42.980 i i think you have to understand how this whole thing works you either plug into mark carney and
00:14:50.760 his crew or you're not you either with the cool kids the insiders or you're not now think about
00:14:56.640 a 25 year old guy watching all this he's got a trade ticket or a degree he's still paying off
00:15:03.140 maybe a basement apartment he splits with two other guys maybe he's still living with his folks
00:15:08.120 he's got a job but it doesn't pay enough to leave home and he's told this is capitalism
00:15:15.620 this is the free market this is what conservatives want more of i even saw someone on tv the other
00:15:22.200 day saying that this was the most conservative budget even more conservative than what stephen
00:15:27.100 harper brought in i can't remember which pundit said that i made me laugh and then this young
00:15:32.760 guy reads the rest of the budget. Immigration, 380,000 permanent residents a year, plus 370,000
00:15:42.140 more temporary arrivals a year. My God. Plus buried in chapter three, a one-time amnesty for up to
00:15:49.000 200,000 more temporary residents already here outside the targets. What are you doing? One
00:15:57.620 immigration site added it all up, 622,000 new permanent residents next year alone. Where does
00:16:04.120 that go? By pursuing a balanced immigration policy, we are attracting the talent that our
00:16:11.560 growing industries need, supporting communities and families, and retaining the Canadian tradition
00:16:18.700 of welcoming those fleeing conflict while ensuring we keep immigration levels at a sustainable level.
00:16:25.340 well straight into this young guy's rent he's competing with almost a million newcomers for
00:16:31.120 rent in toronto and vancouver and calgary and montreal and everywhere else straight into the
00:16:35.480 wages of every entry-level job he applies for the budget itself admits canada quote
00:16:40.820 relied too often on immigration to fill gaps in our workforce then it does it again
00:16:46.360 and then to make sense of it well he checks the media this 25 year old i'm talking about
00:16:52.300 he sees 300 million dollars more for the cbc he sees 134 million dollars for the local journalism
00:16:58.160 initiative half a billion dollars for the journalism tax credit now expanded to private
00:17:03.860 radio and tv so every single journalist covering this budget is now on the payroll of the man who
00:17:10.920 wrote the budget over a billion dollars for canadian stories journalism and media it is not
00:17:17.700 journalism any more than what he's doing is free marketism. It pretends to be the free market. It's
00:17:23.440 not. It pretends to be journalism. There is a world of difference between journalism and government
00:17:29.660 journalism. You can't have government journalism. It's a contradiction in terms. Rebel News gets
00:17:34.840 none of this money, which is fine, which is the way we're able to criticize the government. But
00:17:39.160 think about what it buys from those who sell it. Here's what it buys. Let me show you this. Two
00:17:43.480 years ago, Terry Newman of the National Post criticized the government. A liberal MP from
00:17:49.340 Vancouver named Tlaib Nur-Mohammed replied, and I'm quoting exactly, he said, I pay you. Remember 1.00
00:17:56.240 that. Most of the time, they're not that brazen, are they? But that's the deal. And you can see
00:18:01.260 what that deal does. The same Canadian media has spent two years accusing the Trump family of
00:18:05.840 nepotism and feathering their necks. And by the way, some of that may be fair. Well, they're blind
00:18:11.360 when it happens here in september the government named the prime minister's wife canada's first
00:18:16.860 ocean envoy no competition um the global mail couldn't find out whether she has staff a budget
00:18:25.220 an end date any of that and just just nothing just not you think you're going to be a journalist and
00:18:31.260 you're going to criticize the prime minister's wife and you're going to get your grant next year
00:18:34.960 you better shut up about that go go criticize the trump family instead it's safer
00:18:39.700 when conservatives asked mrs carney to appear at a committee liberal mps blocked it not one
00:18:46.720 regime journalist called it what it is imagine if melania trump had been named some envoy ocean
00:18:53.500 envoy it would have led the cbc for a week you know i i check out this hour is 22 minutes from
00:18:58.900 time to time every video is about donald trump i don't mean half of the videos i mean like 95
00:19:07.440 percent it's all they're allowed to talk about they're not allowed to poke fun at carney or his
00:19:12.420 wife they're very sensitive you see again they're not real comedians they're government comedians
00:19:18.940 you see the difference my favorite part of this budget 12 million dollars to archive justin
00:19:26.160 trudeau's papers i didn't know he had any papers three million bucks a year somebody has to curate
00:19:32.820 all the fancy socks or something. I don't even know what there is. So put yourself back in that
00:19:37.980 25-year-old's shoes. He's told this is capitalism. 50-year airport deals for the fund managers,
00:19:45.440 a big check for Cohere, the AI company, reactors for Romania. I mean, I like Romania. I was there
00:19:52.000 once. It seemed lovely. I don't want to pay for their reactors. Is that okay? Sovereign Wealth
00:19:57.860 fund run by Goldman Sachs guys, a check for every newsroom for every journalist, a title for the PM's
00:20:04.120 wife, 600,000 new competitors for his apartment. If that were really capitalism, as the media tells
00:20:10.860 us, why on earth would anyone support that? That's how you get a Zoran Mamdani, by the way,
00:20:16.580 a self-described socialist, elected mayor of New York City a year ago, with, you got 68% of the
00:20:23.280 voters under 40 that's what did it that's how you get the revolutionary communist party showing up
00:20:28.880 on canadian campuses because they're not winning because communism works they're winning because
00:20:35.700 what's being called capitalism doesn't look like it's working doesn't look like capitalism anymore
00:20:41.900 it looks like a club now and here's the part abby lewis gets wrong though his answer
00:20:47.120 is more government take the 36 billion dollars and spend it on cell phone bills instead same
00:20:54.800 machine different friends i grew up in a world where the free market mentions that i'm a believer
00:20:59.960 in the free market because i remember seeing it work i remember deregulation of the airlines and
00:21:05.820 deregulation of phone companies and and the boom that started you could start something you didn't
00:21:12.200 need a man from brookfield to approve it the government wasn't your partner your lender your
00:21:16.660 landlord your landlord's landlord that kind of real free marketism is gone and nobody in ottawa
00:21:24.000 not mark carney not abby lewis is offering to bring it back so the next time you hear this
00:21:29.640 budget being called pro business ask the question that matters whose business
00:21:34.340 because i'll tell you it ain't your business stay with us for more
00:21:39.420 thanks for tuning into this podcast if you appreciate the news that rebel brings you
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00:22:15.540 Well, yesterday, Mark Carney brought in a budget. Of course, a budget, it's a verb,
00:22:21.120 to budget for something. You're controlling your costs. It was no budget by that meaning
00:22:26.320 of the word. It was the largest spend in Canadian history. It was interesting to see
00:22:32.740 some of the reaction to that, Avi Lewis, the socialist leader of the NDP, implied that it
00:22:37.900 was a business-oriented budget, a capitalist budget. And I immediately understood what he
00:22:43.920 meant, is that in his view, capitalism and crony capitalism are the same thing. When the government
00:22:50.900 gives handouts to favorites like Telesat or Brookfield, it is doing so using the words of
00:22:59.220 capitalism like investment but actually that's just crony capitalism so in a way
00:23:05.820 i can understand why the socialist abby lewis is repulsed by it um i started to look through
00:23:13.040 the budget and when i came across the 12 million dollars to preserve every utterance of justin
00:23:19.400 trudeau a 12 million dollar investment to make sure we don't lose his pearls of wisdom i thought
00:23:24.480 I'm going to close this book just to keep calm and keep my serenity.
00:23:28.800 Joining us now is someone who has read the whole budget, because that's his job.
00:23:32.320 His name is Franco Terrizano.
00:23:33.840 He's the boss of the Canadian Taxpayers Federation.
00:23:36.460 Franco, great to see you again.
00:23:38.200 You had the unhappy task of going through the whole thing.
00:23:42.380 Maybe tell me the top three things that you think our Rebel News viewers should know about yesterday's budget.
00:23:48.620 Number one, it's a debt disaster.
00:23:50.980 OK, it's horrible for taxpayers, especially future generations of taxpayers.
00:23:55.520 So number one, government borrowing $60 billion this year.
00:24:00.280 No plan to balance the budget.
00:24:01.980 No plan to stop borrowing.
00:24:03.640 In fact, going to add about $287 billion to the debt.
00:24:07.300 Number two, debt interest charges.
00:24:09.960 The biggest waste of taxpayers' money.
00:24:11.840 You just mentioned a couple of waste of taxpayers' money.
00:24:14.700 But the biggest waste of taxpayers' money is interest on the debt,
00:24:17.740 costing taxpayers more than a billion dollars every week.
00:24:20.400 Number three, Carney is spending $14 billion over budget.
00:24:25.440 Okay, so the next time I hear one of these government MPs talk about fiscal responsibility,
00:24:31.040 talk about saving money, Ezra, I'm going to puke.
00:24:33.520 I'm going to throw up.
00:24:34.600 You're not being fiscally responsible, not by one iota, if you're spending $14 billion
00:24:39.180 over your own budget.
00:24:40.900 So what's the difference between a $60 billion deficit and $14 billion over budget?
00:24:46.340 So you're saying that they planned to go over budget by what?
00:24:50.400 46 billion and they're actually going over by 60 billion so they couldn't even keep it
00:24:54.540 to their original planned budgeted loss is that right well ezra it's a little bit different than
00:24:59.680 that so thank you for asking me let me clarify so when we say the deficit is more than 60 billion
00:25:05.100 dollars we mean the government is borrowing more than 60 billion dollars right um essentially
00:25:11.260 spending 60 billion dollars more than the money they come in so they're borrowing 60 billion
00:25:15.960 When I say spending is going $14 billion over budget, here's what I mean.
00:25:21.500 Carney originally said he would spend $588 billion this year.
00:25:26.260 Okay, now Carney is spending $602 billion.
00:25:29.900 So just on the spending side, Carney is spending $14 billion over budget.
00:25:36.180 That's what I meant.
00:25:37.040 Thank you for giving me the opportunity to clarify that.
00:25:39.140 Okay, I mean, we want to get it right.
00:25:40.340 And here's the crazy thing is that on paper, Mark Carney should be one of the strongest
00:25:45.520 prime ministers we've ever had financially.
00:25:47.540 I mean, Stephen Harper was an economist and you could sort of tell.
00:25:50.640 Well, Mark Carney, I mean, he really has academic credentials.
00:25:54.480 He was with Goldman Sachs, Bank of Canada, Bank of England, chairman of Brookfield.
00:25:59.100 So this is a guy you would think who would be able to, like if he ran Brookfield like
00:26:03.780 this, he would have been sacked by the board of directors immediately.
00:26:07.860 I guess it's a different switch in his brain when he's playing with his own money when he was chairman of Brookfield, as opposed to when he's playing with taxpayers' money.
00:26:16.980 Like, it's hard to believe that such a crazy overspender, you know, has a pedigree that suggests he would be fiscally responsible.
00:26:26.680 Well, Ezra, the incentives of the private sector and then government are completely different, right?
00:26:31.260 So you can't judge it as the same thing, right?
00:26:33.740 And the most obvious way to put it is like, look, when you're in government, you're spending
00:26:37.640 other people's money, okay?
00:26:38.960 So just think about anyone out there, you're going to be more likely to be more careful
00:26:43.980 with your own money or people you're directly accountable to's money, right, than you are
00:26:49.440 when you're spending other people's money.
00:26:50.820 When you spend other people's money, you're more likely to be wasteful.
00:26:53.620 So I don't know about Carney's private sector experience.
00:26:56.480 I think you can kind of put it over to one side.
00:26:58.480 But what has Carney done when he's in government?
00:27:00.420 He's a central banker.
00:27:01.940 What do central bankers do?
00:27:03.200 They print money financing massive government deficits.
00:27:08.660 Yeah, I guess that's what he's doing.
00:27:10.160 Hey, I mentioned the 12 million Trudeau thing because I just keep laughing at it.
00:27:13.640 I mean, really, if you wanted some light reading, it would be the wise words of Justin Trudeau.
00:27:21.840 Like that's a pamphlet, but we're going to spend 12 million.
00:27:24.520 I guess that's like a Canadian equivalent of when U.S. presidents retire.
00:27:29.120 They have a state library like the Obama Library.
00:27:32.820 They have so many archives. I guess that's our equivalent to it. Are there any other goofy or crazy or irritating examples you came across? I couldn't get past that 12 million to enshrine the deep thoughts of Justin Trudeau. Any other wackiness out there?
00:27:49.100 Well, let me give you two. So number one, and Ezra, I think you guys really will find this interesting or the opposite of that, right? So another $300 million for the state broadcaster, right? Hey, I thought crown corporations are supposed to find savings.
00:28:06.280 But no budget 2026 announces another $300 million for CBC. Ezra, tons, tons of money, taxpayer subsidies or special taxpayer treatment or whatever you want to call it for the media. Right. So I think that's a huge concern. And I think that's something. Stay tuned, folks. We're going to be diving deeper into that. Now, Ezra, though, the second thing and where I'm a real big concern, and I love the way you teed this off at the beginning of the segment.
00:28:34.260 With the Kearney government, we are seeing a real state trying to control the economy, right? That is a huge issue. You go through this budget, and it's like, oh, there's a strategy for this sector, a strategy for that sector, a strategy for this sector, right? So very, very top-down control where the state is trying to dictate.
00:28:55.480 Central command. Yes, centrally planned economy. That's what we used to call the Soviet Union.
00:29:00.440 so that state control on economic activity something that is very very concerning also
00:29:08.640 in that budget now i know the government has announced this before but but ezra a part of this
00:29:12.940 is the is the debt fund right the sovereign debt fund i'm not going to call it wealth fund because
00:29:18.580 there is no wealth when the government is more than a trillion dollars in debt but the government
00:29:23.040 is going to borrow another 25 billion dollars and then pretend like it's an investment banker
00:29:28.780 with other people's money, picking, you know, which businesses should be winners, which businesses
00:29:34.300 should be losers, and essentially, you know, pump taxpayers money into certain businesses or
00:29:39.240 certain industries in the Canadian economy. So that just kind of goes back to what I'm saying
00:29:43.520 in this budget. Real, you really see some state trying to centralize or control or dictate which
00:29:51.740 which parts of the economy should be winners and which one should be losers. You know, I'm so glad
00:29:56.100 you mention that because I know some sovereign wealth funds, for example, Norway, Saudi Arabia,
00:30:02.120 obviously one of the most famous. These are countries that have so much cash coming in,
00:30:07.260 usually, in fact, almost exclusively now that I think about it, from oil and gas. So they've got
00:30:12.720 this pile of dough and they don't spend it all. They invest it. Now, the investments are always
00:30:18.800 political in nature. Maybe the Norwegian one, a little bit less so. We don't have a pile of dough.
00:30:24.380 we have a big pit we have like a the the uh like you know you see a photo negative we have the
00:30:31.220 opposite of a wealth fund so to borrow 25 grand and then to say we're in the same league as these
00:30:37.540 cash positive countries it's so weird it would be like put you know borrowing money to rent a
00:30:44.460 lamborghini and put on like a five thousand dollar suit and you're pretending you're in the league
00:30:49.120 with the guys who actually can afford that. There's something weird. And the weirdest part
00:30:54.540 is that media absolutely laps it up. They absolutely buy it. They can't get enough of
00:31:01.160 Mark Carney. And I don't know. I think one of the reasons is what you alluded to, the huge grants to
00:31:07.400 the journalists. You mentioned the $300 million for the CBC. I saw a headline. I didn't see this
00:31:11.920 in the budget. So you can tell me if I'm wrong. $501 million for other journalists. They're going
00:31:18.140 to expand the journalistic subsidy i saw that in ctv i don't know if that was in the budget i assume
00:31:23.440 it was half a billion dollars to the regime to keep reporting on i don't know i think that that's
00:31:29.840 probably the most dangerous half billion dollars in the whole budget there's a lot there's a lot
00:31:35.720 right like you're asking me what's the worst part of the budget it's almost like a trick question
00:31:39.860 you know like it's it's it's bad um let me talk about so there are tons of subsidies tons of
00:31:45.600 special taxpayer treatment whatever you want to call it for all these different forms of media
00:31:49.580 including the state broadcaster itself i mean this this sovereign wealth fund like we cannot call it
00:31:55.240 that what it is ezra is a debt-fueled corporate slush fund that's what it is uh and you know what
00:32:00.700 ezra um i actually do think i know what what the worst part of this budget is because we can talk
00:32:05.640 about some of the crazy spending we could talk about you know the corporate welfare whatever
00:32:09.180 you want to call it the subsidies to the state broadcaster or or other forms of media but the
00:32:14.360 worst part of this entire budget is really the trend and what we've seen. And it's the interest
00:32:19.200 on the debt. More than a billion dollars every week. Ezra, that is the cost of building a brand
00:32:24.360 new hospital. So imagine building a new hospital every week, then tearing it down before a single
00:32:29.400 doctor or patient walks through those doors. That's how much we're wasting on interest payments
00:32:34.460 on this government's debt. But one other thing, Ezra, the fastest growing cost in the federal
00:32:39.940 budget, the fastest growing cost to federal taxpayers, so to speak, is not defense. It's
00:32:45.440 not infrastructure. It's not healthcare spending at the federal level. It's paying the government's
00:32:50.880 credit card bills. What is going on? Yeah. Very frustrating. And I think the grossest part is it
00:32:59.680 feels like a costume. Mark Carney looks like a banker, dresses in a fine suit, uses the jargon
00:33:08.300 of business but it's just a it's a veneer covering big government just like it always was he's just
00:33:16.340 finding new ways to sell it and i and i think that's the scariest part franco terzano great
00:33:22.080 to see you folks if you want to follow along go to taxpayer.com they're basically the most
00:33:27.640 trustworthy guys when it comes to government spending because like us they take no government
00:33:32.800 funding franco great to see you again thanks ezra all right there he is franco terzano stay with us
00:33:38.020 More ahead.
00:33:47.660 Hey, welcome back. Your letters to me. The first is from my friend Ron Voss,
00:33:51.600 who talks about Danielle Smith and freedom of speech and says, typical of Danielle Smith
00:33:55.240 not to walk the talk, just like her campaign was based on the free Alberta strategy document
00:34:00.220 co-authored by her current chief of staff and fellow floor crosser, Rob Anderson.
00:34:04.060 she did nothing with respect to the list of reforms that must be implemented to strengthen
00:34:08.920 Alberta's sovereignty Albertans were sold a bill of goods listen I like Daniel Smith and I'm going
00:34:14.080 to try and stay positive and I'm going to try and encourage her to become more freedom oriented and
00:34:19.820 I said that when we started the session at our Rebel News Live and what confuses me a bit is
00:34:27.580 that repealing section three of the alberta human rights code is such a winner it's so easy
00:34:34.280 and if her opponents if naheed nenshi wants to be the censorship guy hey fill your boots brother i
00:34:41.240 mean i happen to know that this censorship provision is deeply unpopular and stephen
00:34:47.140 hopper who was far more cautious than danielle smith who had to represent all of canada including
00:34:51.960 the liberal parts he repealed the federal version of that censorship bill and nothing bad happened
00:34:57.700 at all i still think canadians believe enough in freedom that they would abide this repeal
00:35:03.340 not just abide it they'd cheer for it on my interview with andrew lawton the mp yesterday
00:35:09.520 much joy says thanks so much gentlemen much respect well i like catching up with andrew i
00:35:14.500 hope he stays strong john de perra says sad the judicial system is so corrupt now
00:35:19.980 i still have to have hope in the judicial system i mean
00:35:24.400 the political system is pretty depressing isn't it but hopefully there are some judges
00:35:30.040 who still believe in freedom i gotta tell you i was in law school you could just start to see
00:35:34.860 wokeism infiltrate the university this was in the 90s now those left-wing students are becoming left
00:35:41.960 they've been left-wing judges for 20 or 30 years now they're becoming left-wing judges um after
00:35:48.740 being left-wing lawyers. It's a little bit scary, to tell you the truth. That's our show for the
00:35:53.500 day. Until next time, on behalf of all of us here at Rebel World Headquarters, to you at home,
00:35:58.600 good night, and keep fighting for freedom.