Trudeau leads the pack when it comes to raising debt: Fraser Institute
Jenny Yuen
Published:
February 4, 2020
Updated:
February 4, 2020 5:00 AM EST
Prime Minister Justin Trudeau takes part in a news conference in Ottawa, Jan. 17, 2020.Blair Gable / Reuters
Prime Minister Justin Trudeau’s Liberals have racked up more debt than any other Canadian government that didn’t fight a world war or endure a recession during the last 125 years.
A bulletin issued Tuesday by the Fraser Institute says Trudeau will have increased the per-person federal debt by 5.6% (or $1,723) — from approximately $30,922 in 2015 to $32,645 in 2019 — the highest percentage amount since 1895 outside of World war or economic downturn.
“As you increase debt, you’re putting upward pressure on interest costs and as you divert more tax dollars to interest costs, that leaves fewer resources for tax relief or government programs,” said Fraser Institute policy analyst Jake Fuss.
“It also burdens future generations of Canadians, because they have to repay the debt and corresponding interest payments, potentially through higher taxes. It’s essentially asking young kids to foot the bill of today’s spending while in the future, they may not enjoy the same benefits.”
The Fraser Institute looked at debt legacies left by previous prime ministers. Former Liberal prime ministers Jean Chretien, Paul Martin and Lester B. Pearson — whose tenures were also without a world war or recession — cut per-person debt by 13.3%, 7.6% and 6.7%, respectively.
“Higher borrowing costs can reduce the incentive for private capital investment and can hinder productivity in the economy,” cautioned Fuss.
Only two other prime ministers increased per-person debt outside of times of war or recession — John Abbott (1891-92) and Mackenzie Bowell (1894-96).
Among the 20 prime ministers in the study, Robert Borden, who governed during the First World War and through four years of economic downturns, increased debt levels the most at 188.1%, while Louis St. Laurent lowered the amount the most — 34.3% — even though he ran the ship during two recessions.
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The institute said global conflicts such as the first and Second World War and multiple economic downturns contributed significantly to growth of Canada’s debt. During economic downturns, the federal government collects less money and spends more — like on Employment Insurance — when an increased number of Canadians draw on social services.
Three prime ministers—Sir Charles Tupper, Kim Campbell and John Turner—were excluded because their tenures were too short to allocate a budget year.
jyuen@postmedia.com
http://torontosun.com/news/national...hen-it-comes-to-raising-debt-fraser-institute
IS IT NOT TRULY REMARKABLE HOW DEDICATED Our idiot Boy is...................
to his policy of BANKRUPTING CANADA??????????????????
The idiot Boy and his loser LIE-berals go from excess to extreme !!!!!!!!!!!!!!!!!!!!!!!!!!!
Leaving no gravy UN-GRABBED or UN-WASTED!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
Across the entire country our civil service union HOGS and their LIE-beral allies are fighting HARD................
to retain all manner of GROSS ENTITLEMENTS!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
UNIFOR HOGS are waging war against anybody who speaks against LIE-berals and HOG GRAVY!!!!!!!!!!!!!!!!!!!!!!
UNIFOR IS ON STRIKE at the Coop oil refinery out west in defense of HOG PENSIONS
AND for GRAVY GRABBING HOG RIGHTS!!!!!!!!!!!!
UNIFOR DEMANDS THE RIGHT to tell LIE-berals how to spend that SIX HUNDRED MILLION DOLLAR
LIE-beral media SLUSH FUND - dedicated to news media that "LIE-berals trust"!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
Meaning news media willing to accept bribes in exchange for complimenting LIE-berals!!!!!!!!!!!!!!!!!!!!!!!!!!!
In Ontari-owe our teacher HOGS are waging a war against the Ford govt!!!!!!!!!!!!!!!!!!!!!!!!!!!!
Here is an article exposing the UGLY GREED of our teacher HOGS - and explaining why teacher HOGS MUST BE COMPELLED TO GIVE IN TO THE MILD DEMANDS MADE BY DOUG FORD - for the sake of honest democracy!! With some comments of my own in brackets):
EDITORIAL: Teacher unions are ignoring reality
From Postmedia News
Published: November 14, 2019, Updated: November 14, 2019 6:27 PM EST
Filed Under: Toronto SUN/ Opinion/ Editorials
With Ontario’s teacher unions gearing up for another war on the provincial government — the elementary teachers’ union on Thursday announced an escalating job action campaign starting Nov. 26 — the fundamental question facing taxpayers remains.
Why should they have to keep paying for the financial recklessness of the previous Liberal government in public education?
(After all we VOTED OUT THE LIE-berals because of their wild spending - that Ford was ELECTED TO REIN IN!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!)
In the decade before they lost power, the Liberals hired 14,000 more teachers, an increase of 12.5%, while enrolment dropped by 110,000 students, or 5.2%.
(Yes- this is GRAPHIC ILLUSTRATION of how little REAL work teacher HOGS have had to do in recent years - thanks to that DRASTIC DROP in numbers of kids and wild increase in numbers of teachers!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!)!
The Liberals left taxpayers holding the bag on a staggering provincial debt this year of $360 billion, making Queen’s Park the world’s most indebted non-national government, to which runaway spending in education contributed.
(LIE-berals instituted “all day kindergarten” as a govt sponsored day care program - using ABSOLUTELY THE HIGHEST COST MODEL - meaning they handed over control of the system to Elementary Teachers Federation union HOGS!! This should be seen as a GROSS INSULT to the many graduates of Early Childhood Education courses - who have had their access to day care jobs DESTROYED by LIE-berals who chose to give HOG UNIONS total control over day care jobs and hiring - in exchange for HOG VOTING SUPPORT!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!)
(Why in hell do LIE-berals think we need university educated HOGS to teach kids to tie their shoe laces and help them with potty training?? What is wrong with ECE college graduates - other than they are NON UNION and thus cannot be relied on to support LIE-berals!!!!!!!!!!!!!!!!!!!!!!!!!!!!)
Seven years ago their own financial adviser, Don Drummond, told the Liberals their spending on education wasn’t sustainable, that class sizes needed to be increased and all-day kindergarten cancelled or phased-in more gradually.
The Liberals ignored that advice.
(Naturally - Drummond was reporting as a responsible tax payer - while LIE-berals were seeking way to buy votes and cling to power - at ANY PRICE!! Drummond was essentially telling LIE-berals that we cannot afford universal day care operated by HIGH WAGE union HOGS!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!)
In doing what the Liberals should have done starting in 2012, Premier Doug Ford’s Progressive Conservative government is neither slashing nor burning public education.
(The UGLY REALITY is that the education budget has been growing at a rate FIFTY PERCENT FASTER than our health care budget - IN SPITE of the fact that the number of kids in our schools is DROPPING - while the number of patients in our hospitals IS SOARING!! LIE-berals have made their choice - they can buy more votes from teachers than from health care workers!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!)
(LIE-berals also CHOOSE NOT TO DISCUSS the thousands of education assistants they have hired to work alongside teachers in the class room!! The truth is the number of edcuation workers has soared WAY BEYOND student numbers -even as education standards FALL!!!!!!!!!!!!!!!!!!!!!!)
It’s reducing the number of teachers through attrition — not replacing those who retire or resign — rather than layoffs.
(Yet teacher HOGS LIE and suggest that people who choose to take their golden pension and retire to a life of ease are somehow being BULLIED!!!!!!!!!!!!!!!!!!!!)
Financial accountability officer Peter Weltman has said the Ford government has put aside sufficient funds — $1.6 billion — to enable school boards to reduce teaching positions over the next four years, without layoffs.
(School trustees are making plans to return to the bad old days before Mike Harris - in which huge class sizes were standard - simply because trustees could offer GREATER teacher pay raises - more kids and less hired teachers equalled more money for the few teachers who were hired!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!)
(Naturally many teachers found it more difficult to handle so many kids and the HOG SOLUTION was simply to STOP TEACHJING TO A HIGH STANDARD!! In order to limit HOG laziness and sub standard performance - the EQAO standardized testing was implemented and of course teacher HOGS DESPISE EQAO because they think it is RUDE to question them on any aspect of education!)
The government has compromised on class sizes, reducing its original demand that high school classes should average 28 students, down to 25 students.
This as opposed to the financially unsustainable Liberal standard of 22 students.
(Could we AFFORD to have 22 kids in a typical class?? SURE - IF TEACHER HOGS MODERATED THEIR DEMANDS FOR GRAVY!! Its just too bad for all involved that HOGS are DEMANDING all the money, all the control and NO RESPONSIBILITY FOR OUTCOMES!!!!!!!!!!!!!!!!!!!!!!!!!!!!)
(Could we HIRE MORE TEACHERS?? Again - SURE - IF WE PAID EACH TEACHER LESS!! HOGS are completely INDIFFERENT to what we can afford!!)
(It is this combination of solid gold pensions and extremely high salaries that is killing our education system -and constant HOGS excuses about falling education standards IS NOT HELPING the HOG image!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!)
It’s giving the teacher unions a 1% salary increase over each of the next three years.
The province and the unions are always fighting about the precise salary of an average teacher, but suffice to say it’s close to $90,000 annually, plus benefits.
Ontario elementary and high school teachers are well paid — as they should be — by Canadian and international standards.
The argument by the teacher unions that the Ford government is undermining public education is the same rhetoric they’ve spouted for three decades, whether the government was Progressive Conservative, Liberal or NDP.
Enough is enough. Taxpayers deserve a public education system they can afford, not one built on unsustainable levels of public debt.
(Sadly there arev other LIE-beral policies that are undermining education -such as the LIE-beral habit of selecting immigrants from third world countries - how can people who are often ill educated in their first language - fro thir home country - offer real help to their kids with Cdn school problems in English as a second language??????????)
(LIE-berals literally SABOTAGE the education of ethnic minorities by telling them we are all “systemic racists” and that visible minorities are “victims”!! LIE-beral propaganda in support of their shameless vote buying is DISCOURAGING kids from trying hard in school - because succeeding in school is seen by some as “selling out to recist white society”!! What LIE-berals DO NOT POINT OUT is that over 75 percent of all jobs in Canada NOW REQUIRE some post secondary education -therefore a high school drop out is at a HUGE DISADVANTAGE - and that IS NOT RELATED TO RACE!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!)
(NOR do LIE-berals wish to tell kids THE TRUTH about most Community College courses- that the COST of those HOG taught courses is SO HIGH -compared to the salaries that the graduates will earn - that such graduates will incur CRIPPLING DEBTS as they gain that diploma!! But LIE-berals DO NOT CARE since Community College HOGS SUPPORT LIE-berals in exchange for those GRAND HOG TEACHING JOBS- complete with solid gold pensions!!!!!!!!!!!!!!!!!!!!!!!!!!!)
(Its just TOO BAD that the kids and their parents have to be MILKED DRY to pay for LIE-beral efforts to buy votes!!!!!!!!!!!!!!!!!!!!!!!!!!)