The Haliburton-Kawartha Lakes-Brock MP says the economy is doing well but is concerned about the growing debt.
Earlier in the week, the Minister of Finance Bill Morneau updated taxpayers on the economy and finances of the country. The update touched on a number of things, from the updated deficit, the country’s debt, a social finance fund expected to be $775 million over 10 years, and more.
My Haliburton Now.com spoke with MP Jaime Schmale. Schmale says that there are a few goods things to take away from the update, “I think the motions to help charities is a good thing, there was an exploration tax credit the mining industry was looking for.” He goes on to say “at the end of the day, the bottom line is our economy is doing relatively well, but there are some clouds on the horizon coming and the fact that we are continuing to use the credit card to finance our programs doesn’t leave us much wiggle room if the economy were to take a massive slow down.”
Schmale says that the concern lays in how much the current government is spending. Schmale explains the Liberal government’s spending has put Canada “$18 billion in the hole,” adding “they are going to spend $20 billion next year that they don’t have, mortgaging our children’s future on the problems of today.”
Schmale emphasizes that the spending is a concern for all Canadians saying “if you continue to spend more than you collect, especially in good time, that shows we are on the wrong path.”
