How Canada’s future is being threatened by a debt-laden federal budget: A call to action

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“Trudeau’s Misguided Budget: A Burden for Millennials and Gen Z”

In a time where financial responsibility and planning for the future are more crucial than ever, the 2024 Federal Budget seems to miss the mark when it comes to the well-being of millennials and generation Z. Finance Minister Chrystia Freeland’s budget proposal paints a rosy picture, but upon closer inspection, it becomes clear that this budget may do more harm than good for the younger generations.

The Deficit Dilemma: A Growing Burden

One of the most concerning aspects of the budget is the projected deficit of $39.8 billion for the 2024-25 fiscal year, with no signs of balancing the budget in sight. Continued deficits are forecasted through to 2028-29, leaving a heavy burden on the shoulders of future taxpayers. With interest on the debt reaching staggering numbers, it is clear that the financial implications of this budget will impact millennials and generation Z for years to come.

Trudeau’s Broken Promises: A Legacy of Debt

Prime Minister Justin Trudeau’s track record on fiscal responsibility leaves much to be desired. Promising three small deficits with the budget back in balance by 2019, Trudeau has instead delivered nine consecutive deficit budgets, doubling the national debt to over a trillion dollars. The growing debt and rising interest costs will ultimately fall on the shoulders of millennials and gen Z, eroding their financial security and limiting their opportunities for the future.

A Call for Change: Investing in the Right Priorities

As the budget allocates significant funds towards defense spending, it raises important questions about priorities and resource allocation. Investing in defense may provide a false sense of security, while diverting much-needed resources from essential programs and services. It is time for a shift in focus towards investing in initiatives that will benefit future generations, such as climate action and social programs.

In conclusion, Trudeau’s assertions that this budget is in the best interests of millennials and generation Z are highly questionable. The reality is that the younger generations are the ones who will bear the brunt of the financial consequences of this budget. It is imperative that we hold our leaders accountable for their decisions and prioritize investments that will ensure a sustainable and prosperous future for all Canadians.”



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