$343 Billion

[Hamloc]

Oh, and the reason I brought up right and left was simply because 2 posters ahead were laying blame on Liberals, who I assume represent the left economically. And I honestly thought Trump and the Republican party is still consider right leaning economically.

I would agree that today’s iteration of the Liberal Party would certainly be considered left of center, traditionally I would have considered them more of a centrist party. As for Republican’s in the U.S. certainly traditionally right of center. Trump’s version of the party is somewhat contradictory. Lower corporate taxes is certainly a right of center policy but protectionist trade policies including tariffs is more left of center. I was specifically talking about Canada, not sure that pointing out bad policies in other countries makes me feel any better. It will be my children and grandchildren that will have to pay for the vote buying policies of today’s federal government. I think both Trudeau and Trump are poor leaders but I do get tired of Trump being brought up to try and make Justin Trudeau less incompetent!!

[jazz]

Went too long and too deep. The jobs will not be there when things normalize. Canada already has the highest G7 UE rate and ran the debt up even faster than all its peers. We have long recovery ahead of us if we can come out of it at all.

Here is RBCs take on it. ie dollar is toast

While Canada’s AAA rating was a strong talking point, Fitch’s downgrade did little to stir government debt markets. But the gargantuan financial requirement announced in the fiscal update—the government will borrow some $713 billion from markets this year—has already put some pressure on yields, especially for longer term government borrowing.

https://thoughtleadership.rbc.com/costly-covid-stimulus-loads-343-billion-onto-2020-deficit/

Canadas actual debt is closer to $3T.

[Braveheart]

Most of the people that I know that got CERB used it to buy guns. For hunting.

Just think, once they buy the prohibs from people, how much the UN's disarmament agenda is going to add to the already out of control deficit?

[Taiga]

Most of the people that I know that got CERB used it to buy guns. For hunting.

Just think, once they buy the prohibs from people, how much the UN's disarmament agenda is going to add to the already out of control deficit?

Gun grab will quietly disappear. Have got to cut costs everywhere they can now, the deficit numbers are out. This wasteful exercise will be shelved, quietly.

[jazz]

Sask is fully open now yet you can see literally dozens of storefronts, restaurants, personal services shops who arent bothering to even try. You cant make a recovery with half your place empty and having to double your staff to wipe the place down every 5 minutes. F was this stupid. Idiots in charge.

[helmsdale]

Net federal debt at the end of this budget period over $1.2 trillion.

A trillion is a retarded number... for context, you could spend just over $1.6M every day of the year since the birth of christ in money you didnt have and you'd be just shy of where we're at today!

The US could have blown $1M an HOUR since the birth of christ and still not gotten as far in debt as they are!

[Horse]

Dumb question I supose but who are we and others borrowing from,does anyone have the trillions of dollars or is it just an IOU,to be paid to whom and when.

[helmsdale]

Dumb question I supose but who are we and others borrowing from,does anyone have the trillions of dollars or is it just an IOU,to be paid to whom and when.

In alot of cases these days its money conjured out of thin air by the US fed, ECB, BOJ, and Canadian central bank.

Heres the best part... profits generated by the canadian central bank accrue back to federal government coffers. Yay?

[furrowtickler]

I would agree that today’s iteration of the Liberal Party would certainly be considered left of center, traditionally I would have considered them more of a centrist party. As for Republican’s in the U.S. certainly traditionally right of center. Trump’s version of the party is somewhat contradictory. Lower corporate taxes is certainly a right of center policy but protectionist trade policies including tariffs is more left of center. I was specifically talking about Canada, not sure that pointing out bad policies in other countries makes me feel any better. It will be my children and grandchildren that will have to pay for the vote buying policies of today’s federal government. I think both Trudeau and Trump are poor leaders but I do get tired of Trump being brought up to try and make Justin Trudeau less incompetent!!

Excellent post , this happens time and time again with a few posters here . Sad actually.
We have the most incompetent leader of any “first” world country on earth .
Almost like he is under house arrest in his cottage ....... lol