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When Prime Minister Justin Trudeau was campaigning in the 2015 election that brought him and the Liberals to power, he was adamant his government would have a balanced budget this year.

In fact, he promised a $1 billion surplus in the Liberal election platform.

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Back in 2015, Trudeau said during the Globe and Mail’s televised leaders’ debate on the economy:

“I am looking straight at Canadians and being honest the way I always have. We’ve said we are committed to balanced budgets and we are. We will balance that budget in 2019.”

After the election, in a 2015 year-end interview with The Canadian Press, Trudeau repeated his solemn promise to balance the budget in 2019, saying it was “very” cast in stone.

“I think one of the things that Canadians expect is a level of fiscal responsibility that we’ve been able to demonstrate in the past and we’re certainly going to demonstrate it in the future,” Trudeau said.