Quote:
Originally Posted by CliffFletcher
Austerity is just a pejorative term for ensuring there's some correlation between government revenue and government spending. If it's a bogus argument, then why not simply cut taxes in half and double spending?
But I could very well be out of step with popular sentiment. I just read an article in the Globe and Mail revealing that three-quarters of car loans in Canada today are for terms of 7 years or longer, and that almost a third of Canadians who trade in vehicles today have negative equity in them, and add that debt to their loan for the new vehicle. |
My whole point being that family fiances vs state finances are two totally separate things. You can't manage family finances in the same method and principles that you would manage state finances. To do so would be ludicrous. There are times when a government has to run deficit budgets for the good of the long term of the state......Family finances don't have that sort of luxury to do so.
This is a very basic and simple argument. I can make it exponentially more complex but we don't need to go there.
Austerity hasn't worked anywhere.....I would recommend everyone giving a read to the article I linked above.....it's very long but it's very informative.
As for the Olympics, we don't have the luxury to hold them if they are not going to pay for themselves.....so they should only be considered if they are an economic benefit to Alberta's economy. Btw, the economic benefit goes way beyond the profit/loss of the olympics themselves....for those not thinking that way.