Trudeau's latest assault on CCPC's while "holding" the deficit to 40 billion is laughable. His program spending plans, the new ones, will simply get absorbed by hiring of more government employees. Very little will wind up in the hands of those who need it. Yet we are spending, creating a deficit of 2 percent of the GDP annually and achieving less than that in GDP growth. There is no longer a pretense of the multiplier effect of government spending as the law of diminishing returns has wiped out the ability for positive economic stimulation. So much for Keynes. And now we are increasing taxes on private capital deployment through private corporations. This is not a serious country anymore.
“….aggregate federal government debt to approximately $1.1 trillion and total debt of all Canadian levels of government to over $3 trillion or 150% of GDP.”
Bingo !
That’s the area where we delude ourselves. A lot of the figures we get fed are simply the federal debt and they compare it to federal debt of other countries. Whereas in Canada our provincial debt is an enormous number of GDP as well the Fed number .
Furthermore, our provinces provide the major services such as health and education.
In addition, a lot of the federal debt numbers thrown at us is net of Canada pension plan and EI assets. Subtracting those commitments from our debt is ludicrous, even though they are deemed to be assets. They are committed assets and can’t be realistically be used in a crisis to pay down the debt.
In other words, a lot of the data we see comparing Canada to other countries is not apples and apples, it is wildly distorted
Trudeau's latest assault on CCPC's while "holding" the deficit to 40 billion is laughable. His program spending plans, the new ones, will simply get absorbed by hiring of more government employees. Very little will wind up in the hands of those who need it. Yet we are spending, creating a deficit of 2 percent of the GDP annually and achieving less than that in GDP growth. There is no longer a pretense of the multiplier effect of government spending as the law of diminishing returns has wiped out the ability for positive economic stimulation. So much for Keynes. And now we are increasing taxes on private capital deployment through private corporations. This is not a serious country anymore.
“….aggregate federal government debt to approximately $1.1 trillion and total debt of all Canadian levels of government to over $3 trillion or 150% of GDP.”
Bingo !
That’s the area where we delude ourselves. A lot of the figures we get fed are simply the federal debt and they compare it to federal debt of other countries. Whereas in Canada our provincial debt is an enormous number of GDP as well the Fed number .
Furthermore, our provinces provide the major services such as health and education.
In addition, a lot of the federal debt numbers thrown at us is net of Canada pension plan and EI assets. Subtracting those commitments from our debt is ludicrous, even though they are deemed to be assets. They are committed assets and can’t be realistically be used in a crisis to pay down the debt.
In other words, a lot of the data we see comparing Canada to other countries is not apples and apples, it is wildly distorted