In this episode, I talk about the PBO's report on Canada's fiscal situation, and why it's not good at all. I also talk about why we should be worried about deficits, and what it means for the average Canadian.
00:02:43.560And so this is not the PBO interim that they cut to first, but what Patser there is referencing,
00:02:50.100or Patser, I can never say people's last names right, you know, Patser, there we go.
00:02:56.340What he's citing is even just the own government's projections on how big deficits are going to be over the next five years.
00:03:04.640And even then, he's being generous because at the moment, we are supposed to be,
00:03:09.280we're already like $50, $60 billion in a deficit in this year.
00:03:13.960But by the end of the year, it could be that $93 billion number.
00:03:18.860And so even based on the government's own stats, it's not a very good look that we're still going to be running deficits into the high tens of billions a year.
00:03:43.960These are, I don't know, I think I used the words in French, which the translators probably got really well, like, stupefying, shocking, right?
00:03:54.180This is not, it's not a, it's not a, it's not a, it's not a funny fiscal outlook.
00:04:02.600It's, it's a really serious fiscal outlook.
00:04:06.200It's, and we don't lightly use the word unsustainable, right?
00:04:11.320Unsustainable means that you don't have the option of saying, maybe I'll wait a couple of years, I'll see how things go.
00:04:20.700It means if you don't change, this is done, right?
00:04:25.420So it's, it's very, it's very serious.
00:04:33.000And I wish there were way more people working in government who could just tell you what they actually think in language that's appropriate.
00:04:40.300And when I say language that's appropriate, I mean, you know, with a certain amount of intensity, not kind of, you know, fiddling around the edges and being like, well, you know, it's not ideal.
00:04:51.740You know, maybe in the future, if we were, if we had some restraint, things would be better.
00:04:56.840Like, just tell me how bad things are now.
00:04:58.840And if we don't change, how bad will things get?
00:05:01.620And so Jason Jacques, fantastic PBO interim, a budget officer.
00:05:07.760I'd love for him to stick around because that guy's pretty great.
00:05:11.040And to highlight how great he is, here is a liberal MP trying to do a follow-up with Jason Jacques and just getting shut down.
00:05:17.460And obviously you project, so we're on a good fiscal path for a.
00:05:24.720Yes, yes, Vince, please rephrase that before you get smacked.
00:05:28.220We're on a better fiscal path than some of our G7 colleagues.
00:05:32.600And you project our deficit staying under 2% of GDP and debt holding near the low 40% range.
00:05:39.580Would you agree that these kinds of thresholds are really in practice fiscal anchors that signal some discipline?
00:05:53.400I would go back to one of the comments I made at the outset that, like, the most important word in the release this morning was unsustainable.
00:06:04.700So, we, like, it, I don't know, we didn't.
00:06:10.540Like, he's kind of realizing there's kind of like a decorum here and he can't just haul off and call him an idiot.
00:06:15.300But it's like, you know, we're keeping the deficits under 2% or whatever.
00:06:20.340It's like, okay, it's still $80 billion.
00:06:23.980The thing is, it's still debt that you then have to service.
00:06:26.880So, then, yeah, your deficit's only 2%, but what's your debt servicing cost becoming when there's always 2% of spending is deficit spending?
00:07:51.880And the thing is, again, we have Mark Carney as our prime minister.
00:07:55.620You know, the guy who was supposed to be like the fiscal hawk, you know, he's the liberal that you can put some trust into because, you know, he understands economics.
00:08:06.140He's the man to lead us through a crisis.
00:08:07.460He was the, dang it, he was the governor of the Bank of Canada and the Bank of England, worked at Goldman Sachs, worked at, you know, Brookfield Asset Management.
00:08:15.720And every time I think of Brookfield Asset Management, I'm like, well, you mean the, you mean the company that basically mostly only invests in subsidy industries, you know, doesn't actually know how to, you know, invest in good industries that are just profitable because they're just, you know, genuinely are providing products on the market that people want.
00:08:33.400You know, Brookfield Asset Management makes all its money in like green tech and, you know, battery, like battery plants and wind farms and stuff like that.
00:08:42.760Yes, they do invest in other things, but like so much of their portfolio is stuff that only is profitable while the government is throwing grants and tax subsidies and whatnot to it that you don't need to give to the oil and gas industry at all.
00:08:56.640And you always get the liberals out there being like, no, actually the oil and gas industry gets the most subsidies every year.
00:09:03.700They often, they sometimes on large projects will get loans at lower interest rates by the government because it's a massive project.
00:09:11.120They still have to pay it back or they get a tax deferment for a couple of years later.
00:09:16.060But the thing is, they're still paying the exact same amount of taxes in the long run.
00:09:19.740I'll call it a subsidy is the dumbest thing ever considering these same people who then like look at a chart and like, oh, wow, a green tech sector, the green energy sector is doing so well.
00:09:31.480And then you pull out like the subsidy bar chart.
00:09:33.960So like the growth in the industry and then the growth in subsidies are like basically the same chart.
00:09:39.580The green energy industry is only growing off of the back of, you know, Mark Carney and Justin Trudeau and moronic premiers like Doug Ford just dumping money into EV plants and battery plants and wind and solar farms.
00:09:55.640But now I want to jump over to Gary Amasangari, guys.
00:09:59.660We got to check in on old Gerger here because he's he's having a bad week, you know, after being secretly taped, admitting that the gun buyback scheme is a scam and that it's not going to work and that we should just be arresting criminals.
00:10:13.820And that he would even he was talking to his tenant on the tape and he even offered that, hey, if you don't want to hand in your guns and you get prosecuted, I'll pay, you know, I'll help you pay your legal bills.
00:10:24.580But here's him on power and politics trying to justify himself in the aftermath of a truly terrible week by the standards of any minister.
00:10:34.060I want to ask you about firearms and firearm crime, because really, when you look at some of the statistics from police, it suggests that most of the guns used in the commission of a crime in this country don't come from legal firearms owners in this country.
00:11:02.200Why crack down on legal firearms owners who arguably go through very stringent requirements to get a license and then have to follow a bunch of paperwork and regulations and what have you?
00:11:11.620Why go after them and not pour the seven hundred and forty two million dollars you've allocated for this gun buyback program into beefing up the things that are happening at the border to stop what is really the main source of crime guns in this country?
00:11:26.800And that's that's a great question for some reason, always like the fill in hosts on the CBC are better than the main hosts.
00:11:33.140But like we haven't even hired a single new cop.
00:11:36.100They want to put a thousand new border agents or police officers along the border and they have not hired one.
00:11:42.180They then say, well, it's not just the cops.
00:12:04.660JP, I've outlined the other efforts we're making on on firearms, including additional resources at the border, additional RCMP, CBSA officers, the changes we're making to.
00:12:18.660You know, obviously, we're in a finite budget situation.
00:12:21.680You're about to cut across the board some 15 percent if the prime minister gets his way.
00:12:26.860$742 million that is going to be spent on this buyback program.
00:12:29.980Couldn't you deploy that to other areas, including cracking down on where the guns are actually coming from, where these crime guns are sourced, the United States?
00:12:38.600Like, I think in this era where money is tight, does it make sense to expend this sort of money in police people who are not largely responsible for the gun crimes that we're seeing?
00:12:48.400Yeah, so that didn't go so well for Gary Amasangari.
00:12:53.020I can assure you, if it cut back to him giving another answer, it was basically reiterating, oh, no, we're still doing all the right things.
00:13:03.240Now, we just need to also care about, you know, getting guns off our, and just repeating garbage where not only has he admitted it's all wrong, but just everyone's basic common sense tells them, if you want less crime, arrest criminals.
00:13:15.100I know it's simplistic, oh, we got to get to the root causes of crime.
00:13:19.260The root causes of crime are criminals.
00:13:22.540If you just lock up the criminals, they will not commit crime.
00:13:26.380I know there's always more criminals out there.
00:13:28.160There's always people starting their life of crime.
00:13:30.280But the whole point is, it's politically incorrect to say mass incarceration works.
00:13:36.620Whenever people criticize incarcerating criminals and giving them harsh sentences, they'll be like, well, recidivism can still remain quite high.
00:13:43.920It's sometimes people don't get rehabilitated.
00:13:46.940Okay, if you leave prison and you commit another crime, I'll lock you up for twice as long.
00:13:51.820What do we owe these people that they get to, like, eventually open the cupcake shop that they've always wanted to as a kid rather than mugging old women on the street?
00:14:00.200I'm pretty sure we should just, you know, lock them up harder.
00:14:02.900I don't care that they have dweems and aspirations.
00:14:06.060Just lock them up if they're committing crimes.
00:14:08.720Like, it's just, you know, don't do the crime if you can't do the time.
00:14:12.240I like that philosophy on criminal justice.
00:14:19.280Why was I not being able to get that word out there?
00:14:21.680But here's a great clip from Kyle Seaback, also going after the gun buyback scheme.
00:14:27.020I think this is a great distillation of just, you know, just all of the elements of how this has become embarrassing for Gary Amasangari and the liberal government.
00:14:35.680In the public, he supports it, but in private, he calls it a politically motivated scam that won't work.
00:14:40.960Talking out of both sides of your mouth should be a fireable offence, but it's worse.
00:14:46.500Gun crime's up 130%, so he's failed, and he's pushing forward with a program he says won't actually work.
00:14:54.520What will it take for the Prime Minister to fire this minister?
00:14:57.720Mr. Speaker, in order to have a serious conversation about crime, we need to have a serious conversation about guns, Madam Speaker.
00:15:08.020We brought forward, as of this week, launched a program in Cape Breton where we are compensating lawful gun owners who are willing to forego their AR-15 and other harmful weapons, Madam Speaker.
00:15:21.700In addition to that, we're securing the border with $1.3 billion in investments.
00:15:28.140They've spent money, but they've not actually hired any cops yet.
00:15:59.920Oh, yeah, we did something stupid, but it was to strike up a conversation.
00:16:03.580We have Bill C2 right in front of the House, Madam Speaker, that the party office, if it's serious about gun crime, can support and pass through the House, Madam Speaker.
00:16:37.260Don't ask me to explain the logic of it.
00:16:40.020So if we're going to have a real conversation, why aren't they going after the criminals, the 90% of illegal guns that are making our communities unsafe?
00:16:47.940His job is to make our communities safe.
00:16:50.260He's failing, and he's admitted it's a scam.
00:17:01.740What is clear is that on this side of the House, we will put in place meaningful, meaningful measures to make sure that assault rifles are not available to the people who have perpetrated mass killings and tragedies in this country.
00:17:29.040Like, as if they're being provided to mass killers.
00:17:31.640The mass killers don't go for legally owned, like, legally, uh, legal weapons.
00:17:36.740Because oftentimes they couldn't pass a background check, and they're the type of people who don't really follow the law, as you may have gotten the impression from, you know, from them committing massive acts of violence.
00:17:48.320What the Conservative Party has always stood for is making these arms available across the country and doing nothing to ban them.
00:17:56.680Hunters tell us they don't need them to take down a deer.
00:18:02.700Hunters have told us they don't need those weapons to take down a deer.
00:18:05.460Well, okay, I'm not sure if all guns should only be available based on what can take down a deer.
00:18:10.600And based on that logic, they'd have to get rid of a lot of firearms off of their ban list.
00:18:15.200But, again, their arguments are purely arbitrary because their law is arbitrary, and they're probably going to have to kill this law eventually in a similarly arbitrary fashion because they don't like the political blowback.
00:18:28.660This has been a, like, a mess of their own making.
00:18:32.680It was a stupid policy that they've marketed in a stupid way.
00:18:35.800And then Gary Amasangari did the one honest thing by telling his tenant what he really thinks about the law, and now he's regretting it because people know what he actually thinks now.
00:18:43.720But, you know, that's just how politics works sometimes.
00:18:48.080Anyways, that should be it for me today, guys.
00:18:50.920I do just want to quickly make a plug for if you live on Vancouver Island, we have a 1BC event taking place tomorrow in Mill Bay.
00:19:02.320I just cannot possibly be all over the place all at once.
00:19:04.960And then we actually had yesterday, I made a video, I felt embarrassed because, you know, you put out a video, you say something that turns out not to be true four hours later.
00:19:14.540This isn't like a correction, like I spread misinformation.
00:19:17.840But in Penticton, we had our 1BC event at the trade, like the Penticton Trade Conference Center or whatever.
00:19:24.920It got shut down by, like, you know, all these left-wing activists saying that we're racist, we're phobic, we're ist, we're whatever.
00:19:33.260Obvious nonsense, but all these people who, you know, work at a publicly funded conference center are looking for an excuse to not allow a party like 1BC to show up because they don't work on a profit motive.
00:19:43.880And so they told us that we were no longer allowed to be there because we don't have the right values.
00:19:49.140And then the Art Up studio in town was going to let us have our event there.
00:19:54.160And they even leaked all the messages from these left-wing activists, this person named Loki Boki, trying to shut down our event.
00:20:01.820And it demonstrated that the person's just going around smearing us to people and trying to, like, threaten protests and whatnot and attacking the businesses.
00:20:09.040Art Up was going to do the event, but from threats and pressure, now they don't want to do any more.
00:20:16.500It wasn't like, you know, they suddenly now believe we're bad people.
00:20:20.020It's like, well, if you have people wanting to protest your store and potentially try and tell your customer base no longer to show up for having the audacity to have a conservative party do an event there,
00:20:31.080I can see why they maybe had to kind of pull out.
00:20:33.440So we are trying to find a different location for Penticton.
00:20:36.040And I think if you still sign up at the link on our website for Penticton, we will let you know where that event is going to be at.
00:20:42.960And then also, if you live in Calgary, guys, if you live in Calgary, please get yourself a Sonia Sharp Vermeer sign.
00:20:48.940She is the only conservative candidate in the race who can actually win.
00:20:53.180And I think from the videos I've been doing, we've placed, the channel has placed about around 500 signs around the city.
00:21:04.020So make sure to do yours if you live in Calgary and put a lawn sign on your property or even go pick up a lawn sign at their HQ and put it in your window if you live in an apartment.
00:21:13.000But anyways, with that all being said, I will see you guys all later.