Not horrible

Yesterday’s federal budget will hold. No election is coming. Relax.

The deficit is ugly, but useful. Could have been far worse, but it comes with a drop in the federal payroll, brakes on social spending and the guts to spend money on stuff that will build the country instead of sucking in votes.

In short, no drama from Mark Carney. The worst thing that happened to anyone is having to listen to François-Philippe Champagne talk for an hour. It will be refreshing when he grows up and his voice changes.

In case you missed it, there was Con-pleasing, MAGAish stuff in there. Immigration levels will fall. Temporary worker admissions will be slashed by half. Public service workers will be punted. Silly, stupid taxes will be cut (the 1% tax on seasonal homes, the 10% lux car levy, the carbon tax). And Canada will get serious about restocking the military, after we let it degrade to one operational sub and three days of artillery shells.

The feds will spend almost eighty billion they don’t collect in taxes over the next year, but economists say there’s a big change from the Trudeau days. Instead of borrowing money to hand to consumers so they can spend – giving the economy a sugar high – this cash is being invested.

Will people get that? “It remains to be seen whether Canadians are open to coming off the methadone the previous administration hooked them on,” says Scotia’s Derek Holt. “The NDP is on the fence, the Conservatives are sulking in opposition saying they won’t support, and it sounds like the BQ won’t support the budget. I would expect it to pass…”

Of course it will. The opposition is a mess right now. Poilievre squawked again last night about deficits causing inflation, a message which not only failed in the last election, but happens to be wrong. Did you catch the PP blog poll numbers yesterday? He’s toast. Time for Conservative leader who leads the rabble back to the principled middle, and out of the Trumpian weeds.

Speaking of the American King, it was a very bad night.

Dems swept governor races in Virginia and New Jersey. In California Gavin Newsom took a big win in the support given for redistributing electoral districts to fight Trump. Young, bearded, Muslin, immigrant stock, Democratic Socialist Zohran Mamdani was the sensation of NYC, sweeping into the mayor’s office.

Trump-endorsed candidates were roadkill, including ancient Andrew Cuomo, the former NY governor who lost badly to Z the Mill.

The Democrats won in the states by running two centrist, moderate, passionate, reasonable, Trump-hating women. They won in NYC through charisma, generational appeal and a guy who ran on one thing only. Affordability. By yesterday morning every New Yorker knew the three planks in his campaign. Fast, free busses. Freeze rent. Free child care.

Trump called Z a commie. He promise dto punish New York if Mamdani won. He says he will cancel a massive tunnel infrastructure job connecting NYC to NJ – as retribution. Combined with the brutality, lawlessness, violence and racial profiling of ICE and other immigration and deportation cops, the missile attacks on small boats, criminal indictments of political enemies, the threat of an invasion of Venezuela, assaults on universities and restricting refugee entry to white Christians from South Africa, the White House is looking scarier by the hour.

In contrast, Canada’s boring. Thank Dog.

Well, what about personal tax changes in the Carney budget? Exactly. There were none that affect most of us. The lowest tax rate was reduced by 1%, which will save maybe eight hundred bucks a year for lower-income families. Also the CRA was granted authority to start the automatic filing of tax returns, starting with simple situations. And, as mentioned, the stupid UHT was nixed for seasonal homes owned by non-residents, along with the extra 10% on your new Maybach.

Well, Bay Street added a few hundred points at the opening gong today. Resource stocks plumped. Deficit fears faded. The budget was sound and reasonable. The US Supremes are debating if tariffs are even legal. And Trump just got spanked.

Maybe there’s hope after all.

About the picture: “Greetings from one of the night markets in Taipei,” writes Heather from South Surrey, “where hubby and I came across these adorable canines while we were stuffing our faces with local delicacies. Your free, daily blog is essential reading in our house, and your efforts are greatly appreciated.”

To be in touch or send a picture of your beast, email to ‘garth@garth.ca’.

Source: https://www.greaterfool.ca/2025/11/05/not-horrible/