Canada's Debt to GDP now higher than Germany's

[mentalfloss]

Canada's Debt to GDP now higher than Germany's

Canada recorded a Government Debt to GDP of 89.10 percent of the country's Gross Domestic Product in 2013. Government Debt To GDP in Canada is reported by the Department of Finance Canada. Government Debt To GDP in Canada averaged 83.50 Percent from 1988 until 2013, reaching an all time high of 101.70 Percent in 1996 and a record low of 66.50 Percent in 2007.

Canada Government Debt To GDP | Actual Data | Forecasts | Calendar

 

[Trex]

Canada's Debt to GDP now higher than Germany's

Canada recorded a Government Debt to GDP of 89.10 percent of the country's Gross Domestic Product in 2013. Government Debt To GDP in Canada is reported by the Department of Finance Canada. Government Debt To GDP in Canada averaged 83.50 Percent from 1988 until 2013, reaching an all time high of 101.70 Percent in 1996 and a record low of 66.50 Percent in 2007.

Canada Government Debt To GDP | Actual Data | Forecasts | Calendar

It certainly is a problem.

What to do?

Harper and the Con's have been slowly whittling down the size of the bloated public service and cutting spending in general.
Should we ramp up public service cuts?
Cut transfer payments to the Provinces?

Federal liabilities in the public sector are brutal but the worst of the liabilities seem to be located in
the gold plated DB pension plans that the unions have negotiated.
Do we need to bring in right to work legislation both Federally and Provincially?

I wonder if pouring more tax payer dollars into expensive green energy plans would help with the debt?

On the other hand we could ramp up taxes across the board.
Say a 25% increase in personal income tax?
Or maybe try just ramping up business taxes?
Oh wait...the province of Ontario tried that and the businesses are fleeing like roaches on a hot skillet.
Hmmm.

Maybe we should cancel or delay a few more hundred billion dollar pipeline and resource extraction projects?
Could that help with the debt?

I wonder what Justin thinks we should do?

 

[petros]

I wonder what Justin thinks we should do?

More resource investment. Lots more.

 

[mentalfloss]

You can reduce this problem by having a robust economy in most sectors.

Unfortunately, we put all our eggs in the resource sector and out GDP growth is too paltry to offset the expenditures.

 

[petros]

Where should our eggs go?

 

[captain morgan]

You can reduce this problem by having a robust economy in most sectors.

Unfortunately, we put all our eggs in the resource sector and out GDP growth is too paltry to offset the expenditures.

You should lobby your prov and muni to get a smelter and refinery in your neighbourhood

 

[mentalfloss]

If you want to separate from Canada because Ontario is bringing you down then you should let your MP know.

An Alberta referendum would be more fun to watch than a Quebec one.

 

[captain morgan]

If you want to separate from Canada because Ontario is bring you down then you should let your MP know.

I don't recall mentioning that, but it's an interesting thought.

That said, I suppose that 'encouraging' the non-resource sectors is not on your radar then?

An Alberta referendum would be more fun to watch than a Quebec one.

It'd be a slam dunk.... Nothing but upside for AB and/or the West

 

[Spade]

"Nation states are indivisible."
- The Good Guys

 

[mentalfloss]

It'd be a slam dunk.... Nothing but upside for AB and/or the West

It would make perfect economic sense.

In fact, considering how much Albertans care about the economy and how much they hate Ontario, it would be stupid not to.

Somebody get Durry on the phone.

 

[Locutus]

Canada's Debt to GDP now higher than Germany's

Whoopty Do, What does it all mean? - YouTube

 

[mentalfloss]

It means that all that investment strictly on mining and oil and gas has really been paying off! :lol:

As a share of GDP, investment in mining and oil and gas extraction has doubled since 2002.

http://www.bankofcanada.ca/2014/04/canadas-hot-not-economy/

 

[petros]

You're right. Just invest and poof...instant GDP without building a damn thing.

 

[mentalfloss]

More resource investment. Lots more.

....

You're right. Just invest and poof...instant GDP without building a damn thing.

 

[petros]

You don't understand? Why am I not surprised?

 

[darkbeaver]

No manufacturing base no chance for recovery. Canada will be raped by whatever remains of American power.

We don't have domestic manufactured products.

 

[captain morgan]

No manufacturing base no chance for recovery. Canada will be raped by whatever remains of American power.

We don't have domestic manufactured products.

I asked Flossy about encouraging manufacturing in his community... His response was a predictable: "So you want to separate?"

 

[petros]

I asked Flossy about encouraging manufacturing in his community... His response was a predictable: "So you want to separate?"

What are they going to make? Goods for the Praires?

 

[darkbeaver]

I asked Flossy about encouraging manufacturing in his community... His response was a predictable: "So you want to separate?"

Manufacturing will improve when the economic war goes hot. Of course many of our would be consumers will be on the eastern front by then defending crooked bankers.

 

[captain morgan]

What are they going to make? Goods for the Praires?

That's Flossy's problem, he's the one that believes that it makes sense to drive your economy into the ground, devalue the dollar and then, maybe then, your mfg sector can compete.