I would say that if America has 10 times more people than Canada then their debt should be ten times higher than Canada's if debt per capita is equal.
So let's say Canada had $1 trillion in debt - then America should have $10 trillion in debt and the debt per capita would be equal.
Canadian debt may indeed have reached $1 trillion.
America's debt is $22 trillion
I'm not even sure that is relevant. I think ability to pay is more important, which is related to economic power. Especially if you think about third world countries with high populations but low income outside of government employees.You are a dumbass. Debt per capita is not relevant. Debt per working adult is.
All this while steering the nation through the Mortgage Crash in the USA (Freddy & Fanny) that tanked their economy and much of the Globes economies like dominos....I lost my job in 2009 over this (was tightly tied to the US economy, & the US is very protectionist) and I didn't come back to it until 2015 or so (I went mining for 6yrs). On that note I sure wish Harper was steering the good ship Canada at this point instead of the current PM.The pressure to spend by the Bloc, Libs, and NDP so they would approve the budgets while in minority had nothing to do with it?
Stephen Harper: Clinging to power (2006 – 2011)
Did Harper really run eight straight deficits like the NDP, Liberals claim?
All this while steering the nation through the Mortgage Crash in the USA (Freddy & Fanny) that tanked their economy and much of the Globes economies like dominos....I lost my job in 2009 over this (was tightly tied to the US economy, & the US is very protectionist) and I didn't come back to it until 2015 or so (I went mining for 6yrs). On that note I sure wish Harper was steering the good ship Canada at this point instead of the current PM.
Canadians are split over whether the federal government should shut down the Canada Emergency Response Benefit (CERB), according to a poll conducted by Maru/BLUE.
Forty-eight per cent of total respondents said the government needs to reduce spending by shutting down CERB regardless of what the impact might be on people.
While 52 per cent of respondents oppose shutting down CERB, the poll found there is a huge difference among the provinces.
Those who believe it is time to shut down CERB come from Quebec (57 per cent) followed by Alberta (52 per cent) and British Columbia (51 per cent).
However, a huge majority (80 per cent) of people in Ontario were against ending the benefit followed by Manitoba/Saskatchewan (61 per cent), and Atlantic Canada (55 per cent).
CERB provides up to $2,000 per month for self-employed and employed Canadians who have lost work because of COVID-19.
John Wright, the executive vice president at Maru/BLUE, said people from Quebec support shutting down CERB since they are the most enthusiastic about reopening the economy, putting kids back in school, and shopping......More
Let’s see , Quebec , New Brunswick , P.E.I. , and Nova Scotia all rely on transfers to run their provinces, why would they worry about debt , the west will pay .Poll shows Canadians split on shutting down CERB, while majority concerned about government debt
While the polls are split on money now the article goes on to say that over 70% of Canadians are concerned over debt and what actions will be taken to pay for it, the West is leading the way for debt concerns of course.
How did the worst of his 8 budgets compare with our present situation in Ottawa? Get your brain in gear before your mouth!
Well here we are all posting on a Canadian Content message forum and I come back from a days drive . Most radio was filled with the present scandal that threatens the Trudeau Liberals . Not one post or thread about it . Lots about Trump and those idiot Americans though . And you wonder about complacency?When the buffoons allow leftist lieberals, socialists, communists and environ"mental"ists to run the country what else can anyone expect but debt and near bankruptcy. Sadly for Canada, it would appear as though the majority of Canadians appear to only want to vote for those idiots mentioned above. Even voting for the liberal conservative party will only keep adding to the debt and eventually bankruptcy.
The only real and true conservative party left in Canada is the PPC party and Maxine Bernier. If you really are a real and true conservative and you do believe in and want more freedom from government control, and less taxes and regulations that stifle Canada's growth then, then you must vote for the PPC in the enxt election. They may not win the next election but if they can attain enough seats they could become a real thorn in any governments side. The PPC will make life very difficult for them.
Your call, conservatives. Your vote for the liberal conservative party will not change anything in Ottawa. Just more corruption and bribery, a la french Quebec, and the stealing of more of your tax dollars. Your call,conservatives.
Flush with Canada Emergency Response Benefit and Canada Emergency Wage Subsidy cash, Canadians had started to spend again, but that rebound appears to have stalled.
Data shows the Canadian shopper’s spending splurge from late May to early July appears to have plateaued.
“Most categories held steady near levels attained a few weeks ago, while spending on entertainment, dining, and self-care continued to approach year-ago levels,” wrote Colin Guldimann, an economist at Royal Bank of Canada. “Overall, the results indicate that Canadians are venturing out more around town, but not going much further.”
Oxford Economics’s Canada’s Recovery Tracker (CRT) is also signalling that the pace of the country’s economic recovery is moderating.
“We anticipate the CRT will continue to moderate in coming weeks as the initial rebound due to economic reopening fades,” wrote Tony Stillo, director of Canada Economics at Oxford Economics. “Health officials are also warning about the potential risks of a second wave of COVID-19 as students return to school and Canada enters the influenza season this fall.”
On the business side of the equation, Canadian corporations reported a decline of 8 per cent in net income before taxes, a decrease of $4.5 billion, to $52.3 billion, according to a new survey by Statistics Canada.
“Operating revenue declined 11.6 per cent, to $940 billion during the quarter, with the decrease amplified by compounding weeks of confinement followed by a gradual re-opening.”
With CERB ending next month, the government will have to scramble to keep the economy propped up. Ottawa is already planning to roll out a $37-billion income-support plan for workers, but it appears to be only one part of a grander plan to expand the social safety net and stimulate spending.
Media reports suggest that under new Finance Minister Chrystia Freeland, the government is planning an ambitious new spending plan to drive economic recovery.
“New Finance Minister Chrystia Freeland has already shown her colours by ramping up fiscal spending after just one day on the job, and her previous calls for a “new New Deal” to address inequality suggest she may soon push for even greater spending,” noted research firm Capital Economics in a new note titled ‘Freeconomics Could See Canada Outperform’.
“The opinion polls imply most Canadians would support this more activist approach and, despite record debt issuance already this year, the government can still essentially borrow for free in real terms. All this means the stage is set for sustained deficit spending in the years ahead, which could cause GDP growth to be higher than we currently assume.”
The last long term economic report released under Stephen Harper's government in 2014 projected Canada would eliminate its debt within 25 years. After a little over a year into junior's term, things look drastically different. Canada is now projected to run catastrophic deficits year after year. By 2045, Canada is now projected to be 1.5 Trillion in debt! Just 2 years ago, Canada was projected to have a 760 billion surplus by that same year.
More than half of Canadians now say they believe the federal deficit is too big.
And even a majority of Liberal supporters say they want to see a plan for getting back towards balanced budgets when they weigh their options before the next federal election — whenever it may be.
A poll done by Ipsos exclusively for Global News asked 1,000 Canadians over the 18 of age to weigh in on questions posed about the size of the federal deficit, new spending and the prospect of an election amidst the ongoing coronavirus pandemic.
The margin of error is within 3.5 percentage points, 19 times out of 20.
According to the responses, 55 per cent said the deficit is too big. That’s an increase of 12 points from May, and Canadians appear to be evenly split on whether any plans to increase the size of the deficit should warrant an election: 50 per cent said yes, while 50 per cent said no.
But one area where Canadians appear to agree is on the need for a clear plan to rein in spending.
While 78 per cent say they want to see a plan to return to balanced budgets in order to consider voting for a party in any upcoming election, that number remained strong among undecided and even Liberal voters.
Among the undecided voters, 83 per cent said a plan for returning to balanced budgets is a prerequisite for their vote consideration. That number stands at 71 per cent among decided Liberal supporters.
And while 57 per cent of respondents said they are OK with giving Prime Minister Justin Trudeau a blank cheque to spend as much as he thinks is needed to combat the pandemic, that marks a drop of 12 per cent compared to those who said the same earlier in the year.
"Canadians are getting concerned about the size of the deficit not only in the immediate term but also as they start thinking forward to a potential new election," said Darrell Bricker, CEO of Ipsos.
"It's something that they want to have all the parties deal with. And quite frankly, you know, you can't spend a generation or two generations talking to Canadians about deficits being a bad thing for them to all of a sudden turn it on their head and start to think that they're a good thing."
He suggested the tolerance for deficit spending has shown Canadians understand and support the need to spend during an emergency and on programs that will help people weather the immediate storm. But that support doesn't necessarily extend to bigger spending not directly related to the crisis.
"All Canadians are looking at the current federal spending as really being about emergency relief," he said. "There's a lot of tolerance for that right now. But outside of that, we don't really see a lot of enthusiasm for any other big spending.".......More
It doesn't matter what Canadians want. As I have said previously, I suspect Trudeau is in the process of engineering a fall election,and as we all know by now....what Trudeau wants, he gets.
Many Canadians are facing the end of CERB, the end of mortgage deferrals, record unemployment to an extent that we still can't even measure let alone comprehend. Combine this with annual income tax season coming up that no one receiving taxable government income has budgeted for (or probably could, even if they wanted to), possible future partial or complete lockdowns, and an unprecedented government deficit that Trudeau is going to have to answer for at some point in the near future, I doubt he is going to want to face an election even 6 months from now. He almost has no choice, if he wants to have any chance of retaining power he must ensure an election this year.
All this talk of UBI and other "free" money for Canadians, a green new agenda for Canada, a bold fresh start and "Building Back Better" sloganeering, it seems pretty obvious that the banana-stuffer-in-chief is setting the table for an election sooner than later. Even his declaration that "Canadians don't want an election this fall" seems disingenuous...patronizing to Canadians, and arrogant and taunting like he's daring the opposition.
His support is shaky and will not last, he has to try and win another mandate before the foundation crumbles and the house of cards collapses. Even the new beard and soft whispery tone won't save him when it does.