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Canada’s Financial Freefall: When Rosy Rhetoric Meets Hard Reality

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This article is from The Opposition With Dan Knight substack.  

The Trudeau Government’s Economic Alchemy: Turning Gold Hopes Into Lead Numbers

Good morning, my fellow Canadians. It’s September 3, 2023, and if you’re expecting to wake up to a bright, financially secure Canada, well, I have some sobering news for you. The latest figures from Statistics Canada are in, and they confirm what many of us have suspected: the Canadian economy is not on the up-and-up. Despite the rosy pictures painted by Prime Minister Justin Trudeau and Finance Minster Chrystia Freeland, the real numbers don’t lie, and they point to an economic landscape in turmoil. Allow me to break it down for you.

The new Statistics Canada data is in, and it paints a rather bleak picture of the Canadian economy under the watchful eyes of the federal government and Justin Trudeau. Let’s delve into some numbers, shall we? A staggering $16.5 billion in debt was added by Canadian households in the first quarter of this year alone, with $11.2 billion being in mortgage debt. In an environment of 5% interest rates, a rate we haven’t seen for over a decade, this is a financial bomb waiting to explode.

And let’s not forget inflation. Since 2021, we’ve seen a cumulative inflation rate of around 16.5%. Now, remember, these aren’t just abstract numbers on a ledger somewhere; these are realities hitting your grocery bills, your gas prices, your rents, and slowly emptying your wallets. But it’s not just households feeling the pinch. The economy as a whole is stalling, with real GDP nearly unchanged in the second quarter of 2023, following a measly 0.6% rise in the first quarter.

Amidst all this, Justin Trudeau and the federal government seem content piling on debt like there’s no tomorrow. The Parliamentary Budget Officer’s March 2023 report shows Canada’s deficit is expected to rise to $43.1 billion in 2023-24, up from $36.5 billion in 2022-23. And let’s not forget that 1 out of every 5 dollars in this debt spree didn’t even exist pre-pandemic. Essentially, we’re spending money we don’t have, to solve problems we’re not solving, all while making new ones.

So, where has all this spending gone? Not into securing a robust future for Canadians, I can tell you that. Despite the monumental deficits and the reckless spending, housing investment fell 2.1% in the second quarter,marking its fifth consecutive quarterly decrease. Canadians are struggling to make ends meet, and the government’s financial imprudence is exacerbating, not alleviating, the situation.

But here’s a twist to the story: while investments in housing decline, Justin Trudeau decided it was prime time to open the floodgates of immigration. There’s an aspect of governance called planning, something that seems foreign to this administration. How does one justify allowing over a million immigrants into Canada without even hinting at a solution for housing them? The result is basic economics – demand outstrips supply, and prices soar.

Remember the days before Trudeau’s reign, when the average home in Canada cost around $400,000? Eight years under his watch and that figure has doubled. Trudeau’s policies seem like a cruel jest to young families, professionals, and, frankly, anyone aspiring to own a piece of the Canadian dream. It’s almost as if he expected the housing market to “balance itself”.

And before you think this is just a ‘rough patch,’ let me remind you that household spending is also slowing. So not only are Canadians going into debt, but they’re also cutting back on spending. They’re being hit from both sides, and there’s no end in sight. The government’s promises of prosperity seem increasingly hollow when we see that per capita household spending has declined in three of the last four quarters.

The Trudeau administration’s approach to governing appears to be in a parallel universe, one where debt is limitless, and financial responsibilities are for the next government or even the next generation to sort out. And don’t even get me started on the higher taxes lurking around the corner to pay off this bonanza of spending. This isn’t governance; it’s financial negligence.

When Canadians were told that this level of inflationary spending could turn our country into something akin to Venezuela, many scoffed at the idea. But let’s face it: the signs are becoming hard to ignore. The truth is, many Canadians have been led to believe they can have gold-plated social services without paying an ounce of gold in taxes. Prime Minister Justin Trudeau seemed more than happy to sell that narrative. He promised a utopia, a social safety net woven from dreams and aspirations. But what has that net caught? Rising costs, crippling debt, and a harder life for everyday Canadians.

Trudeau has turned out to be less a responsible steward of the economy and more of a Pied Piper, leading us all off a fiscal cliff while playing a cheerful tune. Or perhaps he’s more like the Cheshire Cat from “Alice in Wonderland,” grinning broadly as he disappears, leaving behind only his grin and a trail of false promises.

As we approach the pivotal year of 2025, don’t forget who sold you this bill of goods. Remember the skyrocketing costs of living, the unmanageable debt, and the empty words that were supposed to make everything better. I, for one, certainly won’t forget. And I suspect, come election time, neither will you.

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Crime

Former Tim Walz appointee wanted for Minnesota shootings

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MXM logo MxM News

Quick Hit:

Vance Luther Boelter, a former appointee of Minnesota Gov. Tim Walz, is wanted for Saturday’s targeted shootings that killed a state lawmaker and seriously injured another.

Key Details:

  • Authorities say Boelter first shot Sen. John Hoffman and his wife at their Champlin home before killing former House Speaker Melissa Hortman and her husband in nearby Brooklyn Park.

  • Dressed in police-style gear, Boelter reportedly exchanged gunfire with officers before retreating from the scene and escaping.

  • Investigators found a list of targeted politicians, including Gov. Walz and Lt. Gov. Peggy Flanagan, as well as anti-Trump flyers reading “No Kings.”

Diving Deeper:

Law enforcement sources said Saturday that Vance Luther Boelter, 57, is the primary suspect in a string of targeted shootings that left former Minnesota House Speaker Melissa Hortman and her husband dead, and Sen. John Hoffman and his wife hospitalized. First reported by The Blaze, Boelter—a former appointee of both Gov. Tim Walz and former Gov. Mark Dayton—has not yet been apprehended.

The violence began early Saturday morning in Champlin, where the gunman reportedly posed as a police officer, dressed in black body armor and carrying a Taser, badge, and radio. Surveillance footage showed him knocking on the Hoffmans’ front door while wearing a cowboy hat and wielding a flashlight. The couple was shot multiple times and rushed into surgery. Both are expected to survive.

Shortly after the Champlin attack, police were dispatched to check on Hortman’s Brooklyn Park residence. According to Police Chief Mark Bruley, officers encountered what looked like a marked police vehicle in her driveway and a man in uniform exiting the home. When they approached, the man opened fire and retreated into the house. Officers returned fire but did not apprehend him. Hortman, 55, was found dead inside, alongside her husband. Their family dog, Gilbert, was also shot.

Police say Boelter left behind a manifesto naming 70 individuals—ranging from elected officials like Walz and Flanagan to abortion providers and Planned Parenthood affiliates.

The suspect also carried “No Kings” flyers, referencing a national day of protest against President Donald Trump. These same flyers were promoted online as part of anti-Trump demonstrations across the country on Saturday. In response to the shootings, the Minnesota State Patrol urged residents to stay home.

Boelter reportedly ran a private security firm, Praetorian Guard Security Services, which offered armed patrols for a steep monthly fee. He held appointments under two Democrat governors—first in 2016 on the Workforce Development Council, and again in 2019 when Gov. Walz tapped him for the state’s Workforce Development Board.

His apparent political motivations are under review, especially following recent controversy surrounding Hortman’s vote to strip state health benefits from illegal immigrants. Just days before her murder, Hortman had broken with her party to side with Republicans on the issue—providing the deciding vote after a tense budget standoff. “They’re right to be mad at me,” she told reporters after the vote, acknowledging anger within her caucus.

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Crime

Manhunt on for suspect in shooting deaths of Minnesota House speaker, husband

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Vance Luther Boelter, wanted in the murders of former Minnesota House speaker and her husband, shown in image from video Saturday.

From The Center Square

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Second lawmaker, his wife also shot; suspect remains at large

Two Minnesota state lawmakers who are members of the Democratic-Farm-Labor Party were shot early Saturday by a person posing as a law enforcement officer just north of Minneapolis.

House Speaker Emeritus Melissa Hortman and her husband were shot and killed in what Gov. Tim Walz called a politically-motivated assassination. The suspect, identified as Vance Boelter, 57, remains at large and a manhunt is ongoing. Authorities said he no longer is in the area of the shootings.

 

Gov. Walz on Shooting of Minnesota Legislators: ‘An Unspeakable Tragedy’. 6/14/25

Source: Minnesota Department of Public Safety

“My good friend and colleague, Speaker Melissa Hortman and her husband Mark, were shot and killed early this morning in what appears to be a politically-motivated assassination,” Walz said at a news conference. “Our state lost a great leader, and I lost a dearest of friends.”

State Sen. John Hoffman, DFL-Brooklyn Park, and his wife also were shot about 2 a.m., and Hortman and her husband were found about 90 minutes later.

Walz said the Hoffmans were each shot multiple times but he was hopeful for their recovery.

Law enforcement issued a shelter-in-place order for an area around Edinburgh Course that continued into the hours Saturday but has since been lifted. The suspect was seen wearing blue pants, a blue shirt, body armor, and reportedly driving a dark SUV with lights meant to make it appear like a police vehicle.

The suspect, Boelter, was appointed by Walz to serve on the Governor’s Workforce Development Board in 2019. Various media outlets reported that he is the director of Praetorian Guard Security Services, where he had access to police-like security equipment. Media outlets also reported that Boelter had a list of about 70 names in his vehicle which included the lawmakers who were shot, other lawmakers and abortion providers.

State officials are encouraging residents to not attend “No Kings” protests at the state capitol and across Minnesota. “No Kings” flyers were found in the suspect’s vehicle, law enforcement said.

FNF The scene near a shooting of Minnesota lawmakers
Law enforcement at the scene of a shooting in Minneapolis

The “suspect exploited the trust of our uniforms, what our uniforms are meant to represent,” Public Safety Commissioner Bob Jacobson said. “That betrayal is deeply disturbing to those of us who wear the badge with honor and responsibility.”

According to authorities, the gunman allegedly escaped through a back door of Hortman’s house following an exchange of gunfire with police.

President Donald Trump also released a statement on X, posted by White House Press Secretary Karoline Leavitt.

“Our Attorney General, Pam Bondi, and the FBI are investigating the situation, and they will be prosecuting anyone involved to the fullest extent of the law,” Trump said. “Such horrific violence will not be tolerated in the United States of America. God Bless the great people of Minnesota, a truly great place!”

The FBI said it is offering a reward of up to $50,000 for information leading to the arrest of Boelter.

Drew Evans, superintendent of the Minnesota Bureau of Criminal Apprehension, said Saturday that officers arrived at the Hortman residence as part of a routine check on lawmakers in the area and exchanged gunfire with the suspect, who managed to flee.

Brooklyn Park Police Chief Burley said officers knocked on the Hortmans door and were met by what appeared to be a police officer wearing police gear, a gun, a taser and a badge. Officers and the suspect exchanged gunfire in the home before the suspect fled out the rear of the house.

Burley also said the suspect was driving an SUV that looked like a police vehicle with lights. The car was impounded, and Burley said the suspect is on foot. He  encouraged citizens to not answer the door for police officers and instructed Brooklyn Park police officers to not approach citizens alone, only in groups of two or more.

Burley said several people have been detained, and police are looking for others of interest.

Burley said a manifesto was found in the suspect’s vehicle that identified several other lawmakers. Both Hoffman and Hortman were on the list of people found in the car, Evans said.

Life-saving efforts were given to the Hortmans at the scene, Evans said.

“This was an act of targeted political violence. Peaceful discourse is the foundation of our democracy.We don’t settle our differences with violence at gun point. We must all stand against political violence,” Walz, also a DFL party member, said. “This tragic act in Minnesota should serve as a reminder that democracy and debate is a the way to settle our differences and move to a better place.”

The shootings happened seven miles away from each other, and law enforcement officials have called both shootings “targeted.”

Law enforcement was dispatched to the homes of several other state lawmakers – both Democrats and Republicans – in the Twin Cities area for protection overnight. Those lawmakers were told not to answer the door if an officer comes to it, but confirm with 911 before answering.

U.S. Sen. Amy Klobuhar, D-Minn., was shocked by the news.

“This is a stunning act of violence. I’m thankful for all the law enforcement who are responding in real time. My prayers are with the Hortman and Hoffman families. Both legislators are close friends and devoted to their families and public service,” Klobuchar said on social media.

Republican House Speaker Lisa Demuth, R-Cold Spring, called the shootings evil and asked for prayers.

“I am shocked and horrified by the evil attack that took place overnight. Please lift up in prayer the victims along with the law enforcement personal working to apprehend the perpetrator,” Demuth said on social media.

Walz activated the state emergency operations center early Saturday.

Hoffman was first elected to the Senate in 2012 and currently chairs the Human Services Committee.

Hortman was first elected in 2002 and was elected as speaker of the house in 2018. She is the current speaker emeritus.

She was also one of four DFL members to break with the party Monday and join Republicans to pass a state budget and end state health care services for noncitizens after a long and contentious special session.

The initial budget vote ended in a tie, before Hortman and three other DFL members broke ranks and joined Republicans to pass the legislation.

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