In 2013, the unemployment rate for black youth was 26.6%, nearly double the 13.5% rate for white youth in America. American women made 80 cents for every dollar that an American man made. In Canada, a university-educated Aboriginal worker makes 44% less than non-Aboriginal workers in the private sector. It is a shame, both from the perspectives of fairness and economic growth, that the talents of so many are underutilized and undervalued on the basis of a characteristic they are born with and correspondingly affected by.
It is certainly true that some minority groups have endured abuse and discrimination in the past, which was placed them in disadvantaged socioeconomic positions today. These people have often arrived in these situations through no fault of their own, and they deserve help to improve their quality of life. It is also true that racism and negative discrimination persists in hiring processes for many firms today. This is unfair, and people discriminated against in this manner deserve better.
The Liberal Party, headed by Justin Trudeau, is under scrutiny. Trudeau originally promised in his campaign that he would run two deficits of up to $10 billion, then balance the budget for the 2019-2020 budget; however, it is now projected that Trudeau will run five consecutive deficits, starting at $29.4 billion and totalling more than $113 billion. Some pundits are criticizing Trudeau’s actions; many others are applauding him.
When the Trudeau Liberals revealed their economic platform in the 2015 election cycle, they made three promises: the government would run a deficit of no more than $10 billion annually, the debt-to-GDP ratio would decrease each year, and the books would be balanced four years after Election Day. Today, all three promises have been wiped off the map. With the presentation of the first Liberal budget Finance Minster Bill Morneau announced that the 2016 deficit could run as high as $30 billion. The Liberal’s new path is expected to add $113.2 billion to the Canadian debt in just five years; the total addition to the deficit will by then be almost four times what the Liberals initially promised. I think the decision to run such a massive deficit is both economically dubious and democratically concerning.