ERIN O’TOOLE -- Justin Trudeau spent recklessly during the good years, and now when we need the fiscal capacity, independent rating agencies are sounding the alarm
Fitch, one of the big 3 global credit rating agencies, downgraded Canada's credit rating Wednesday. The United States, the European Union, Germany, Australia and many other countries are all facing the same economic and fiscal challenges as Canada, but we were the only country to get a downgrade. We used to have a AAA rating - a legacy from the (Stephen) Harper government that allowed us to borrow money more cheaply and make decisions knowing global credit markets had confidence that Canada could pay its bills. Justin Trudeau spent recklessly during the good years, and now when we need the fiscal capacity, independent rating agencies are sounding the alarm. And they should be - Justin Trudeau and Bill Morneau can't even tell us the size of the deficit. They won't even give us a fiscal update or a budget to inform Canadians about our fiscal situation. And they even shut down parliament to avoid having to answer questions about their spending. This isn't g...