shockedcanadian shockedcanadian:
Lemmy, I don't need a PhD to know that running a deficit isn't hard. Furthermore, I was in my MBA at one time, so I have a slight understanding of economics.
The fallacy which he is repeated; and I heard it a number of years ago, is that "rates are low, so now is the time to borrow". What isn't being taken into consideration obviously, is our absolute reliance on debt, the fact that the debt is systemic just in order to maintain current service levels, and, taking on debt is best when the economy is booming at a high rate, so that the investment made offers an immediate impact, something we certainly are not experiencing now. Not unlike investing on the margins when you find an undervalued stock to purchase.
The bottom line. For this and the last government in this regard, is that debt has become an addiction in Canada with no end in sight. What I want to see is a law either outright banning running a deficit, or, requiring very specific circumstances bordering on an emergency to boroww. You can be sure that too much of this borrowing is done is to reward cronies for their election support. Similar to what the Liberals of Ontario have been doing for a decade.
Remember when the GST was put into place in order to pay our debt? I remember thinking even as a young man, "this tax won't ever go away, it will be permanent", low and behold here we are 30 years later and we have GST.
Balance the books. It needs to be a mandatory objective of the government. We are putting the nations future in jeopardy. I was willing to given Trudeau some leeway before passing judgement on his suitability as a leader, unless he knocks one out of the park in other areas, this latest budget was a disaster.
well said...unfortunately your talking to a few here who think when their broke and out of work, you should start taking out a line of credit on your house to renovate..you know to spur the economy....ridiculous.
CKA Uber 
