The headlines this week were all about Conservative chaos. Chris D’Entremont crossed the floor, Matt Jeneroux quit caucus, and the story seemed to write itself. Commentators framed it as a party in turmoil, a leader under pressure, and a movement losing control of its message. For the Liberals, it was a gift. After months of bad press over affordability and an underwhelming budget, the focus had finally shifted somewhere else..But while they were busy laughing at the Conservatives, a quieter and more revealing moment was happening inside their own party.Nathaniel Erskine-Smith, the Liberal MP for Beaches–East York, released a four-minute video giving his personal review of Budget 2025. It was not a partisan attack or a self-promoting stunt. It was calm, careful, and perhaps that is what made it sting most.In the video, Erskine-Smith broke down the budget into three categories: “the good, the bad, and the ugly.”.He started on a positive note, saying the government’s focus on national sovereignty, infrastructure spending, and innovation was encouraging. He praised new investments to support workers affected by tariffs and the creation of a sovereign wealth fund for critical minerals. But the praise ended there.The “bad,” he said, was the lack of ambition on climate action and housing. He pointed out that while the government has strong methane rules and clean investment tax credits, there were also cuts to tree-planting programs, the winding down of the Greener Homes initiative, and no new funding for housing-related climate measures.On housing, he said that the new Build Canada Homes program and tax cuts for first-time buyers were unlikely to make a real difference in supply or affordability..Then came what he called “the ugly.” Here, Erskine-Smith criticized the government for introducing a new fossil fuel subsidy for LNG facilities and cutting $2.5 billion from international development assistance over four years. Calling it “not a Pearsonian budget,” he said the decision reflected a short-sighted attitude among wealthy donor nations.It was not the fiery speech of a rebel MP but the sober disappointment of someone who still wants his party to do better.For a Liberal MP to say that publicly is not a small thing. Erskine-Smith is not an outsider or a political opportunist. He has a reputation for independence but also for discipline and thoughtfulness..His criticism carried weight precisely because it did not sound like politics. It sounded like honesty. And that honesty quietly exposed a truth the government does not want to face: Liberal unity is starting to fray.Compare that to the Conservatives’ supposed turmoil. D’Entremont’s decision to cross the floor was portrayed as proof that Pierre Poilievre’s leadership is driving moderates away.But reporting by Brian Lilley in the Toronto Sun suggests the real story is less ideological and more personal. D’Entremont, a veteran MP and former provincial cabinet minister, was frustrated that he had not been supported for the Speaker’s chair..The job comes with a higher salary, a chauffeur, and a comfortable residence in Gatineau, not to mention a significant pension boost. After losing out, he decided to switch sides. That is not a moral stand or a sign of party collapse; it is a political calculation.So while Liberals delight in the image of a Conservative Party tearing itself apart, they are ignoring the cracks forming in their own government. Erskine-Smith’s critique was polite, but it was also a warning.The budget, he suggested, is not living up to its billing as a “generational investment.” Spending has increased, but ambition has not. The Liberals are trying to be all things to all people and ending up convincing no one..Erskine-Smith’s video matters because it reflects something real inside the party: fatigue.The Liberals have been in power long enough that they seem to be defending their record out of habit more than conviction. For now, the Conservatives are the ones making noise, but the Liberals’ problems are quieter and closer to home.Cracks in a government do not always start with shouting matches or public resignations. Sometimes they start with one of your own, looking into a camera and telling the truth. And when that truth comes from someone inside the room, it is often the hardest to ignore.