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Originally Posted by chemgear
The federal government is defending the fact that it overshot last fiscal year's deficit target by roughly $20 billion by suggesting our economy is the envy of the G7. Andrew Chang explains why that argument is misleading, and what $1.2 trillion in federal debt actually means.
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Additionally, the federal government claims about our financial well being so great compared to the G7 is their unreasonable usage of so called
"net" debt. They avoid referring to gross debt. Net debt is including the assets of our CPP and QPP to artificially lower the number that they've accumulated. Unless they plan on illegally seizing those funds to pay down the debt, it's nonsensical.
They might as well include the savings and RRSP accounts of all the individual Canadians as well. I mean, I guess they could change the laws so that they could start stealing those funds to pay off their spending.