Scheer thinks Trudeau is vulnerable on debt and taxes. Here's why the opposition leader might be wrong
Andrew Scheer keeps saying that a vote for Justin Trudeau this autumn will be a vote for higher taxes.
That’s a reasonable deduction. The budget deficit has increased to about $20 billion from zero in 2015, so the debt is growing. That’s bad, according to most economics textbooks. Government borrowing puts upward pressure on interest rates, and it crowds out private capital because investors prefer risk-free government bonds to risky bets on entrepreneurs. The situation can’t be allowed to persist, and since Trudeau appears allergic to spending cuts, debt dynamics will force him to raise taxes.
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