Hon. Leo Housakos: My question is for the government leader. My question has to do with Justin Trudeau and his government’s monetary policy, or, should I say, their lack thereof.

As the Trudeau government has been spending like drunken sailors, their achievements have been record-high deficits, record-high debt and we now see record-high interest rates that Canadians haven’t seen or felt in over two decades. Canadians are paying a heavy price for these bad policies. They’re hurting. We see it; we feel it.

My question is simple: Why is it that Prime Minister Trudeau and his government don’t hear them and see them? Why is it that you got up on this floor yesterday and took pride for these economic records rather than accept shame and defeat for them? My question is really this: How come?

Senator Housakos: The only things your government can take credit for are the exasperating monetary policies that are exacerbating inflation. That’s the only thing you can take credit for.

I can say something else: One thing about drunken sailors, Senator Gold, is that at least they spend their own money.

Now, my question has to do with the Bank of Canada, which, over the last few months, has acknowledged their error in following policy that has been put out by this government when it comes to dealing with inflation. They did delay, and their delay has exacerbated the situation, and now we’re starting to see it in compressed interest rate hikes. But at least the Bank of Canada has acknowledged that they were wrong in their forecast.

When will your government start acknowledging that you were wrong with your monetary policy and your approach to spending? The only thing the Trudeau government has ever done is point fingers and blame everywhere except in their direction. When will your government assume responsibility that your monetary policy over the last eight years has led us to the brink of economic catastrophe?

Senator Housakos: Unfortunately, government leader, it’s clear that “JustinFlation” keeps falling on deaf ears when it comes to the government. Unfortunately, the failed monetary policies of the Trudeau government are creating an enormous amount of anguish and stress amongst all Canadians, regardless of what talking points you want to quote.

The reality is Leger Marketing took a poll this fall. In Quebec, 42% of Quebecers are living with economic anxiety. That’s a fact. Failed monetary policies of printing money, runaway spending by this government and consecutive deficits year after year since this government came to power in 2015 are at the root of “JustinFlation” and what Canadians are facing.

Government leader, you can deny it all you want, but Canadians are living with this reality on a day-to-day basis. Canadians are paying more than ever and receiving less than ever. The question is simple: Will you acknowledge that the government has failed in this regard? Will the government change the Minister of Finance or will the government resign altogether and give Canadians relief?