The following is a satire, but the $3 billion deficit is real.
On November 4, 2015, Justin Trudeau of thre Liberal Party was elected Prime Minister of Canada, and he chose Toronto businessman Bill Morneau as his Finance Minister (i.e. his Treasury Secretary).
Mr. Morneau reviewed the Canadian government’s finances and discovered that what the previous government had bragged was a $ 3 billion surplus was in fact a $3 billion deficit. That’s a lot of “red ink” on the government’s “books.” However in the above image it is shown in black, since the government’s deficit is the economy’s surplus.
This is great news for average people, but as you can see above, it is causing a lot of pain to the rich and to the brainwashed, who depend on federal budget surpluses to widen the Gap below them.
On a positive note, the previous government had boasted that the (now false) budget surplus would cause the Canadian economy to register a two-percent growth rate by 31 March 2016 (the end of Canada’s 2015 fiscal year). However Mr. Moreneau, the new Finance Minister, has cut that projection in half to 1.2 percent. This will mean far fewer jobs created, and far more Canadians plunged into poverty and debt bondage, but it will also mean that the Canadian government is finally starting to get its spending under control.
Finance Minister Bill Morneau says that low oil prices are causing the weaker economy.
Several reporters asked if he would compensate via increased deficit spending. “Absolutely not,” Morneau reassured them. “We will eventually return to a federal budget surplus. In order to boost Canadian jobs, we must permanently wipe them out!”