Posts
The most crucial problem facing every industrialized country is the same problem that we all faced in the 90s: deficit and debt.
Canada did well in the 90s to climb out of deficit. Credit does not just go to the federal government under Jean Chrétien. Much of the overspending was coming from the provinces and so it took a truly national effort to climb out of the abyss.
Now we are slipping back down into that black hole. Governments all around the world tried to “fix” the economy by throwing money at it, never realizing that they had to take money out of the economy in the first place. So now we are all burdened, and Canada is no exception, with a new round of crippling debt and deficit.
After a decade of struggle we spent another decade squandering the opportunity, and now we are back to square one.
Some are pushing for more spending to calm the still troubled economy. If spending increases weren’t successful before, and there is zero evidence that it were, why would we do it some more? Why would you want to charge toward the abyss?
It is time that we once again give up on these failed Keynesian ideas and resurrect the spirit of the 90s.
We need a national political consensus towards fighting debt and deficit at all levels of government. And we need it now.
2 comments:
For all their problems, the Brits under Cameron are giving it a real try:
Increased pensionable age for civil service
Reduction of benefits for public servants, and increased individual contribution to their pensions
Raising thresholds for benefit payments
Real reduction in funding for the BBC
They are even talking about putting a limit on child benefit payments so that having more children does not increase your benefits without limit.
http://www.dailymail.co.uk/news/article-1318439/Jeremy-Hunt-Dont-expect-pay-benefits-unlimited-babies.html
We need to be able to do some of the same things!
Ive been saying this since 2008.Ive watched months go by now and the same arguements from politicians are the same.More spending ,more stimulus,more waste.
Cut the programs that dont work.Keep what does work.Im not going through life dodging the debt black hole just so others around me can fall into it.
Progressive.Yeah progressively poorer as a result of taxation and debt.No thanks.
Joshua
Post a Comment