HARDING: Premier as Leafs coach

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The meme Prime Minister Justin Trudeau will be the new coach of the Toronto Maple Leafs, who were eliminated from the NHL playoffs on May 4 in Boston, much deeper than people thought.

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Former head coach Sheldon Keefe was fired, leaving the top job vacant.

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“With my unique coaching style, the Cup will win itself,” is Trudeau's quote in the meme, the fictional words of which are matched by a fake photo of him wearing a Leafs jacket.

The woes of both Canada and the Maple Leafs involve leadership and the economy.

In the case of the Leafs, the player's salary cap is $83.5 million. Last year, the team paid four players $11 million each, leaving 16 other players with financial leftovers.

Before becoming prime minister, Trudeau was asked how committed he would be to a balanced budget.

On February 11, 2014, Trudeau criticized the Harper government's approach, saying “The commitment has to be a commitment to grow the economy and the budget balances itself.”

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“They artificially set the goal of a balanced budget in an election year,” Trudeau explained.

“And this is irresponsible. You have to build an economy that works for Canadians, that works for middle-class Canadians, that allows young people to find work, that allows seniors to feel secure in their retirement.”

Trudeau promised to eliminate modest deficits and return last year balance he had a majority election, this interview condemned the conservatives. We are still waiting for that balanced budget, of course.

It was in the budget $7.5 billion surplus When Trudeau's Liberals were sworn into power on November 4, 2016, they ran a $5.4 billion deficit by the end of March.

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Before taking office, Trudeau argued that historically low interest rates were a good reason to borrow and spend on nation-building infrastructure. As long as the debt-to-GDP ratio continues to decline, good enough.

That low interest rate excuse is gone, but the deficit remains. If this fiscal year ends next March, the federal debt will be double This is what happened when the Trudeau Liberals came to power. Deeper deficits and higher lending rates have driven up debt service costs almost double only in the last two years.

Among the 38 countries that are members of the Organization for Economic Cooperation and Development Canada's growth real GDP per capita was the fifth weakest in 2019-22. Last November, Canada was named as one of eight advanced countries with real incomes below pre-pandemic levels as inflation outstripped growth.

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Worse, the OECD projects that Canada will be the worst performing economy among 38 advanced economies between 2020-30 and 2030-60.

Even before capital gains taxes were raised in the last budget, investors knew that Canada was not a good place to grow wealth. The country was defeated $225 billion 2016-2022

Whether it's a winning team or a winning economy, ignoring financial reality steals success.

Trudeau's economic plan relied on a booming, high-wage public sector, nearly unlimited immigration, carbon taxes and green spending. He put all his money on the wrong players.

Canada was very different in 1967, the last time the Lifters won the Cup. Since then, the first and second Prime Ministers, Trudeau, have destroyed the social and financial condition of this country, plunging us into conflict and financial hardship instead of celebrating our successes.

So when will Canada get a new coach?

— Lee Harding is a research fellow at the Border Public Policy Center.

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