$22 Trillion and accelerating . . . .

[Guest]

I guess I was raised with the idea that debt was a bad thing and public debt was the worst.

Stealing from your children and grand children for your lifestyle today.

The Liberal's first Trudeau really got Canada's debt ramped up. Mulroney wasn't able to pull it down much but he got the GST in which Chretien and Martin used to cut running up more debt. Harper came next and he tried to keep a lid on debt. Next came the second Trudeau and he is fast and loose with public spending just like the first Trudeau.

Canada's debt isn't really a party thing. Its a TRUDEAU thing and they just happen to be in the Liberal Party Of Canada.

"stealing from your children and grandchildren for your lifestyle today" is the definition of a liberal

[samhill]

Not spending on our military helps I guess. (tic)

[jazz]

Not all GDP are the same. Canadas is made up more of commodities and real estate speculation and govt handouts. The US GDP is much more manufacturing based so it has a better quality GDP that we do.

[ajl]

Not all GDP are the same. Canadas is made up more of commodities and real estate speculation and govt handouts. The US GDP is much more manufacturing based so it has a better quality GDP that we do.

Forgot to mention tax audits. Yes I am aware that the IRS does them too but they do not make as big a component of GDP in the US as Canuckistan.

[grassfarmer]

..... Harper came next and he tried to keep a lid on debt. Next came the second Trudeau and he is fast and loose with public spending just like the first Trudeau.

Canada's debt isn't really a party thing. Its a TRUDEAU thing and they just happen to be in the Liberal Party Of Canada.

More of your fake news. A reminder of the figures posted by dmlfarmer on another thread:

From 2009 to 2011 Canada's debt increased by 88 billion
From 2010 to 2012 Canada's debt increased by 64 billion
From 2011 to 2013 Canada's debt increased by 58 billion

You're outraged by Trudeau increasing debt by 58 billion in 2 years but Harper equalled that once and did worse in two other 2 year periods - yet he "tried to keep a lid on debt" ....suuuure!

[dmlfarmer]

I guess I was raised with the idea that debt was a bad thing and public debt was the worst. Stealing from your children and grand children for your lifestyle today.

The Liberal's first Trudeau really got Canada's debt ramped up. Mulroney wasn't able to pull it down much but he got the GST in which Chretien and Martin used to cut running up more debt. Harper came next and he tried to keep a lid on debt. Next came the second Trudeau and he is fast and loose with public spending just like the first Trudeau.

Canada's debt isn't really a party thing. Its a TRUDEAU thing and they just happen to be in the Liberal Party Of Canada.

Unfortunately, facts don't support your conclusion. (Unless you think Mulroney and Harper were secretly Liberals or Trudeaus???)
Yes PET increased the national debt by roughly 300 Billion. But then Mulroney added another roughly 300 Billion. The Liberal governments of Chretien and Martin held the debt relatively constant. But then Harper added about another 300 billion to the debt. Now Trudeau is again adding debt. Here is a great graph up to JT period which shows clearly which leader/party added debt and Conservatives are definitely not better money managers.

https://pbs.twimg.com/media/CMWtxLLUEAAHqOn.png https://pbs.twimg.com/media/CMWtxLLUEAAHqOn.png

[macdon02]

https://twitter.com/HayekAndKeynes/status/998602512772059136?s=20

National debt is just the tip of the iceberg. Unfunded liabilities such as Medicare, Social security, and pensions dwarf this amount by a factor of 10

[sawfly1]

Can we finally put to bed the myth
That liberals or ndp are the big
Spenders .
Pretty obvious that conservatives
Spend at least as much if not more
And if you were to consider all the assets they sell off in the
Meantime.
They are probably the winners

I know it is a favorite talking
Point for conservatives.
But Good intentions mean $hat
You actually have to deliver.
So until that happens .
We do not need to hear it.

They are all guilty.
Move on

[errolanderson]

https://twitter.com/HayekAndKeynes/status/998602512772059136?s=20

National debt is just the tip of the iceberg. Unfunded liabilities such as Medicare, Social security, and pensions dwarf this amount by a factor of 10

Only Portugal, Italy, Greece and Japan have a worst debt load than the U.S. Japan’s massive debt has been characterized as the lost generation.

U.S, debt now totals about 80 percent of GDP. There is no way the U.S. can grow their way out of this financial mess. And this is called the good times stateside. What wil happen to unfunded liabilities, asset values and standard of living when the economy turns down?

A massive debt bomb (IMO) . . . .

[chuckChuck]

The OECD projection says the USA's % of public debt to GDP will be 109.9% in 2019 rising to 113.3% in 2020.

Trump cut taxes for the rich, but the overspending continues.

The US overspends by a wide margin on its military. The military spending is spread around the country making the jobs and economic activity that goes with it hard to cut.

While many fiscal conservatives want a much smaller government and reduced spending, there is reality that many jobs will be lost and the economy will shrink.

Errol how does the US get out of this conundrum?

The Liberals under Chretien and Martin cut a relatively much larger deficit starting in 1993.

https://www.macleans.ca/economy/economicanalysis/of-the-last-three-federal-governments-which-had-the-best-fiscal-record/