Quote:
Originally Posted by skins
The Canadian government pays something like $30 billion in interest payments every year. That's money that is lining the pockets of banks (some foreign) that could be spent elsewhere or provided in tax relief.
No tax cuts until the debt is at least mostly paid off.
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I have a question and a comment for those that are more knowledged than me in this area:
- Can governments write off their interest payments based on what they are putting the money towards? I'm guessing because they are government they can't write anything off because it comes out of their own pockets anyways
- Does the Government of Canada invest its money in anything so it can try and earn additional money from the surplus?
- Jack Layton, NDP leader, doesn't want any money spent on paying down the debt. http://www.ctv.ca/servlet/ArticleNew...825?hub=Canada
Does Mr. Layton not understand simple economics? If we continue injecting money into social programs with a surplus, then what happens when we don't have a surplus? Those programs people have now relied on get removed and that government gets pissed on.