Skip to main content

When all you have is a hammer...

Canada’s government spending is now on unsustainable path, warns PBO
Financial Post's reporting is a bit, what's the word? alarmist?
Things really aren't so dire.
Canada’s sub-national governments need a combination of new revenue or spending cuts totalling 1.5 per cent of GDP to put themselves on a sustainable path, up from 1.4 per cent last year — what the PBO called a “modest deterioration.” That would require a combined $30.2 billion in spending cuts or tax increases from provinces, territories, local and indigenous governments.
You know, the major, important thing is, that no one ever really mentions, is Canada will always have a modest to wealthy tax base. And also, Canada prints its own money. That's a major strength. It means Canada can always repay its dept, even if the value of its currency falls.
$30 billion? It shouldn't be an impossible amount for the government to raise.
It should be a multi-pronged approached. Modestly raise taxes, starting from the top earners, and work downward. Borrow, too: with the currency weak as it is, now's as good as any time for the government to borrow. Close tax loopholes: there's money going to waste, hidden away in off-short bank accounts.
Most importantly, get money into the hands of people who'll spend it. The gears of the economy are screaming for lubricant. And that's what money's for. To keep the economy healthy.
Labels:

Comments

Post a Comment

Popular posts from this blog

The human 'superpredator' is unique -- and unsustainable, study says

Los Angeles Times I can't imagine the world in ten years time. Twenty years. It'll be different. As different as the world was even in my own childhood. As different as the world was from my parents' childhoods. My elders speak of our role on this Earth as caretakers. However, we've abandoned this role in favor of materialistic pursuits. Of finite beliefs that will quickly degrade into ash when stressed, as heated glass touching cold water. All cultures historically warn us away from over-indulgence, and yet our own modern society celebrates this behavior as exemplary. This self-interest is our fatal flaw. We take what we want, and we give nothing. This cannot last. There are limits on this Earth we cannot comprehend in full. It is simply too vast. However, what little we do know should terrify us into acting more responsibly, even if only marginally. However we do not even do that. Our leaders urge us on to continue on as we have done. This cannot last. Eventuall...
1 comment
Read more

Highway of Tears gets $3M for transportation safety plan

CBC News Realistically, there's only so much can be done The long term goal should be to be helping these remote communities become more and more self-sufficient so there's less need for a community member to have to travel to and fro their home to a neighbouring town for particular needs, or to strengthen the presence of civilization along side those roads and highways. However, three million dollars? Honestly, it seems quite a bit low. This is over 700 kms, altogether, with many communities, in-between. And the winter conditions alone are harsh and demanding. Three million dollars will be used up, very quickly. The most helpful part of this would probably be the $1.6 million allocated toward BC Transit. An extra bus per community with an extra diver should help, although it's a question if the funding will stretch to cover all the communities, in-between. Considering this is the provincial government, they can only do so much, and only indirectly. Now it's up to ...
Post a Comment
Read more

Justin Trudeau A 'Stunning Hypocrite,' Top Environmentalist Says

The Huffington Post Canada Some pretty harsh words. And accurate, too. What is the point of more pipelines? Their effect on the Canadian economy seems negligible, at best. At worst, they're sinkholes, employing some, but draining time, money, and manpower from other industries that'd be of more benefit to the Canadian economy as a whole. At some point, the Canadian government's simply going to have to give up on the tar sands. They're a money pit. Canada's days as an oil-producing nation are long over. There's more money being spent on the tar sands then Canada's recouping, now. And the days when barrels of oil were selling at or over $100 per barrel are never coming back.
Post a Comment
Read more