News Story of the Day: Canadian Prime Minister Justin Trudeau was elected only a few months ago, but his first mandate has already been a failure. One of the latest signs of his failed run at representing Canada comes from a new National Bank study.
The study suggests that Trudeau and his Liberals could run upwards of $90 billion deficits within his first mandate. Due to a weakened national economy and the numerous stimulus promises Trudeau has made, the country’s books could deepen in the red. Although Trudeau has pledged to run multi-billion-dollar deficits in his first four years in office, he didn’t promise the deficits would be this big.
The son of former Prime Minister Pierre Trudeau vowed to balance the budget just in time for the next election. Is this possible? Not if you raise taxes substantially and/or cuts in spending.
Report author Warren Lovely wrote in the study: “Repeated downgrades to the national growth outlook have nonetheless dealt a heavy blow to the federal budget balance.”
Chart of the Day: Hillary Clinton wants to be the champion of the middle class. She wants to lie to the American people by telling them she understands their problems and has experienced her own hard times. One way to do this is to tackle CEO pay. Her, as well as Bernie Sanders, keep chastizing the country’s CEOs and their salaries. But, as American Enterprise Institute points out, CEOs earn less than Clinton’s speaking fees. Ouch!
Illustration of the Day: The latest talk is that Florida Republican Senator and 2016 presidential candidate Marco Rubio is a robot over his famous Obama line from the last GOP debate (SEE: OUCH: A Marco Rubio montage repeating same Obama line 5 times). Well, let’s hope everyone hasn’t forgotten that Hillary Clinton is just as much of a robot, too, as this illustration from InfoWars suggests:
Quote of the Day: A lot of young people want a revolution. It all sounds good – the government is screwing the taxpayers, the banks are receiving bailouts and the Federal Reserve is out of control – but when you look at the question of “what’s next?” you have to be worried. Usually, when people talk about a revolution, they want more government. That’s not a revolution. Instead, libertarians and freedom lovers have to educate and discuss. This is what Target Liberty‘s Robert Wenzel eloquently explains:
“What must be done is for libertarians to continue to study, debate, and intellectually challenge current central planning leanings in others. It is a battle that can be fought on may fronts. A battle that can be taken directly to the masses with sound, clear and powerful presentations of the libertarian ideal. It can be fought on a higher intellectual level by challenging the intellectuals who sell out for a cozy government or academic positions.
“Everyone from the full time scholar to the passing commenter at blogs can play a role in this battle. We need liberty battalions. There are many to be moved to get the oppressors off our chest. It can not be done by simply cozying up to the populist cheerleaders surrounding Trump and Sanders. We must capture their minds and that of future populists and turn them into our shock troops. This is not an easy task, but it is the task that must be done.
Video of the Day: Here is what Donald Trump would sound like if he had a British upper class accent (warning: pure hilarity):
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