When the Liberals presented their 2024 budget, they gave it the title, “Fairness for Every Generation.” Anyone who took the time to look through the budget document would discover that, far from delivering “fairness for every generation,” this budget pushes Canadians further in debt with more reckless deficit spending despite the negative impact that it has had on the skyrocketing cost-of-living crisis.
Budget 2024 includes an additional $40 billion in new deficit spending and is the ninth Liberal budget with a deficit.
This budget brings our national debt to $1.25 trillion, and this year the federal government will spend $54.1 billion just on the interest payments to service our debt. This is more money than what the government spends on healthcare.
Before a youth gets their first job, they owe $31,000 in federal debt, and that number keeps growing.
We cannot forget that inflationary spending is what has contributed to the government’s massive deficit, which has driven up interest rates, mortgage rates, rents, and the cost of groceries.
Meanwhile hard-working Canadians, such as those in our communities of Haldimand-Norfolk, are forced to balance their own budgets and make difficult decisions, such as whether to heat their homes or buy food – a shocking 2 million Canadians per month are relying on foodbanks to put food on the table for their families.
A budget that fails to be fiscally responsible and fails to address the reasons for the affordability crisis is simply not fair for anyone.
True generational fairness will encourage a financially independent citizenry, and for those who need extra help, such as those living with disabilities, veterans, and seniors, we need to ensure that we are not spending more on servicing our debt than we are on vital programs that these Canadians need.
Canadians should not be struggling to afford the basics, like housing and food.
Nine years ago, life in Canada wasn’t this hard. We are losing the prosperous and free Canada that most of us have come to deeply cherish. The good, hard-working people of Haldimand-Norfolk deserve much better and so do our children.
