When it comes to debt in Canada, most of the financial analysts and pundits look to the consumer. It’s true that the average consumer is heavily indebted – the average consumer debt is around $30,000 – but the most pressing concern may be the debt held by the general public.
The Fraser Institute released a new report Monday entitled “The Cost of Government Debt in Canada.” It found Canada’s debt, combining federal and provincial governments’ debt, will exceed $1.3 trillion this year. This is quite the spicy meatball for the Great White North.
Of course, the two most indebted provinces are Ontario and Quebec, who are $298.32 billion and $188.15 billion, respectively, in the red. The federal government, meanwhile, is $692 billion in the hole, and with Prime Minister Justin Trudeau pledging to maintain exponential deficit spending for years to come, that number will likely skyrocket by the end of his first term.
Although interest rates are at a record low, debt payments still serve as a tremendous burden for governments at all levels. Combined, the federal and provincial governments dole out $60 billion per year to service their debt. In Ontario, this is the third-biggest budgetary item behind healthcare and education with $11.3 billion per year. Quebec spends $10.3 billion on interest payments.
“Newfoundland spends almost 13 per cent of its revenue just to maintain its debt load. That $888 million is $2 million more than it spends annually to run its primary and secondary schools,” the National Post reports. “Nova Scotia’s annual interest payment tops $870 million — more than three times the $223.5 million in revenue the provincial liquor corporation rakes in.”
With Canada’s economy in the toilet, and left-wing parties controlling all levels of government in the country, the debt situation won’t get any better moving forward.
Here is what the Fraser Institute writes:
“There are also immediate consequences from government debt in the form of interest payments, or what are called debt servicing costs. Governments must make interest payments on their debt similar to households that must pay interest on borrowing related to mortgages, vehicles, or credit card spending. Government spending on debt servicing costs results in less revenue available for important priorities such as tax relief and spending on public programs like health care, education, and social services.”
Indeed, this isn’t just a Canadian problem. The debt issue can be found anywhere from the United States to the United Kingdom, from China to France. Since the economic collapse, governments have taken on such astronomical amounts of debt, and central banks have facilitated this foolish initiative.
As Trudeau said, though, budgets balance themselves and the only way to grow the economy is outward (whatever those things mean).
The public has no idea what the hell is really going on in Canada…bloody clueless….enjoy some facts…
Just a little backgrounder, to gain some perspective… Liberals – This is the party of massive government growth and debt under Trudeau part 1 (daddy), Lalonde, changing our banking system, the way we borrow money and from whom, the party of forcing a new flag on the nation, forcing bilingualism (French) on the country while allowing English to be banned (allowing bills 22, 178, 101…) in Quebec, forcing multiculturalism, renaming our founding constitution the BNA act and forcing a french style charter upon the country signed only by people from Quebec (Trudeau, Ouellette, Chretien)… The party of adscam, the funneling of millions into Quebec, Shawingate, hotel burning, contracts on napkins, cash changing hands in brown paper envelopes in Quebec restaurants, the party of the most corrupt, slimy, sleazy province in the country ( see MacLean’s magazine, Quebec corruption), where mayors all across the province are being charged with corruption, fraud, money laundering, bribery… ongoing trials as we speak, the party of equalization (the stealing of your money and funneling billions into Quebec, every year for over 50 years now with no change in sight …), the stealing of farm land (Read – The tragedy of Quebec)…I could go on for hours with facts…the Liberal party of Canada has a long , long history, a pattern of greed, slime, deception and corruption dating back to the 1960s. A few of clips below for proof…quotes below…
https://www.youtube.com/watch?v=3WTyYNjPTmU
https://www.youtube.com/watch?v=5iGZE6zxoKQ
https://www.youtube.com/watch?v=ui_XgfFceYc
https://www.youtube.com/watch?v=HA0-psDcdnk
If only the public fully understood what is happening to them ,if they only knew what these French language radicals were really up to, and that is the problem, people really don’t understand what’s going on, what these french language bigots are doing to all levels of government across the country…what the goal really is…see below and pass it on, nothing but the truth. These people are the most racist, bigoted, corrupt, xenophobic people in all of North America. If the world only knew what was going on in Canada, what the “French” (metis) were really up to…along with the racist anti-English language laws in Quebec a la bills 22, 178, 101…they have bragged about taking all of Canada and everything seems to be going as planned…
”first Quebec, then the rest of the country…one step at a time…” PET,
“how to take over a country through bilingualism…” SD
Quebec has been robbing Canada blind for decades now. Ever since Trudeau and his gang of anti – English language, anti – BNA “French – metis” bigots from Quebec arrived in Ottawa in the 1960’s, they have been funnelling billions upon billions in grants, subsidies, equalization payments… into Quebec every year = more and more debt…an absolute disgrace. And how do they say thanks in french? Well try decades of anti-English language laws like bills 22, 178, 101…nice eh?
Go learn our proud, real BNA and UEL history. These were the builders of our country since 1763. Not this phony, revisionist lie, this bilingual, multicultural, 2 founding nations, linguistic duality lie, propaganda, spin that we’ve been living with since Trudeau, and kebec forced this upon the nation. We’ve been part of the British Empire since 1763 and officially an English speaking country for over 200 years…just a fact.
It’s not just going on in Kebec. Its happening all over the country. From the confiscation of farm land in the 1940”s (The tragedy of Quebec) to the removal of the Red Ensign in Quebec City in 1950, to the removal of the Red Ensign in Ottawa in 1965 to the enforcement of bilingualism in Ottawa in the late 60’s, 70’s…to the nightmare that Canada is now living with (the charter and everything connected to it) its all going as planned folks.
Lies, deceit, spin…decades of it. People really have no idea what this man Trudeau and his cronies form Kebec did to Canada. The changes have been incremental …its been decades of propaganda, brainwashing, lies…subtle and not so subtle at times… About 40 years of this 2 founding nations, linguistic duality, bilingualism, Quebec is French…BS. None of this existed before Trudeau and his gang of bigots came to power.
See the quotes below…they knew what they were doing from the start…and this has been exposed in many books, please don’t believe me, go read a few, – The monstrous trick, His pride our fall, Enough, Bilingual today French tomorrow, Conspiracy of two, Conning the Canadians, The tragedy of Quebec…and many more.
.” ….Given these facts, should French-speaking people concentrate their efforts on Quebec or take the whole of Canada as their base? In my opinion, they should do both; and for the purpose they could find no better instrument than federalism”, Pierre Trudeau,.
“I cannot swear it but I think we were thinking to ourselves,… we are a small group, Trudeau, Pelletier, Marchand, Lalonde, Chrétien, myself and a few people in the civil service, say 50 all told…we were bringing off a revolution. We held the key posts. We were making the civil service bilingual (French), kicking and screaming all the time”. Jean-Luc Pepin, Minister of Industry, 1970.
50 years of spin, lies…thats what we have got. They are changing the names of towns, streets, counties, bodies of water, riding names…and I’m not taking about kebec any longer. It’s now going on all over the country; it’s a mess in Ottawa where they name things after anti-English language bigots and racists all the time. They are slowly wiping out our English, Scottish, Irish, United empire loyalists history. Just like they’ve been doing in Quebec for the last 5 decades (bills 22, 178, 101…)…This is one of the main reasons we are not teaching any history from 1760 to 1982 in our schools any longer.
These racist people control government, the curriculum, our money…we get a daily dose of spin, lies and propaganda. Its just a daily dose of Champlain, Riel ( a murderer, hung for treason…) Cartier…all French history…no Wolfe, Amherst, Murray, Nelson, Cornwallis, Fraser, Wellington, Dorchester, Waterloo, Durham…no Red Ensign…
More quotes below. Our flags for over 200 years was the union jack and red ensign until a bunch of liberal parasites mostly from Kebec got rid of it…this has to be taught…this is our real history…
“First Quebec, then we take over the rest of the country, one step at a time…through bilingualism…” PT, “How to take over a country through bilingualism…” SD. How ? First comes the right to communicate with gov’t in a minority language (ie French),then comes bilingualism, then comes the right to work in the language of choice(ie French), then comes a bilingual boss,(ie French) then comes a exclusively French department and on it goes until its all French. Its happening all over the country, Ontario, New Brunswick…That’s what’s really going on.
“My roll as Secretary of State of Canada is first and foremost to ensure that my French compatriots in Canada feel with deep conviction, as I do, that this is their country and that it reflects their image”. “I too had some difficult years as a politician; I’m still having them, in fact, because everything we undertake and everything we are doing to make Canada a French state is part of a venture I have shared for many years with a number of people”.
“You know the idea, the challenge, the ambition of making Canada a French country both inside and outside Quebec — an idea some people consider a bit crazy, is something a little beyond the ordinary imagination”. – Serge Joyal, Secretary of State – Page 2 ‘ENOUGH’ by J.V. Andrew. – Serge Joyal – Now in the Senate.
Wake up people!!!