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by sleepysysadmin
2025 days ago
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Canada still hasn't put out a budget. Their "Fall economic update" explains why there is no budget. Their deficit is $381 billion. Yet they are talking about socialized childcare? To be clear, Canada's total debt that built up since the 1980s is ~$750 billion. In 2020 alone the deficit of an equivalent of 20-30 years of government debt. Who is to pay for all this spending? Well it's simple. We can look to our largest industries. Mining/Oil/Gas is actively being harmed and can't even afford themselves. Manufacturing was destroyed by christia freeland. Government taxes destroyed bombardier which is now being sold off. Little to airbus, little to alstom. So we know exactly who is left in Canada to pay the bills. FIRE. Finance, Insurance, and Real Estate. Finance are the ones who get to handle and manage the debt. So let's be realistic, Insurance and real estate left. Oh right, record low interest rates, possibly going negative. Real estate is being propped up by the government trying to prevent explosion. I guess Insurance will be the one holding the entire debt? |
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"Today [2018], per-capita Canadian federal debt is equal to US$13,588.51. In the U.S., the same figure is nearly five times higher at $67,000 per American."
Source, the not-very-left-wing National Post: https://nationalpost.com/news/the-utterly-unbelievable-scale...