Quote:
Originally Posted by CliffFletcher
Given the demographic trajectory we’re on, we’re not going to be able to maintain our current levels of public spending on things like health care and seniors facilities, let alone take on the enormous costs of buying up private facilities.
I’m not sure people really understand the oncoming demographic crisis every developed nation is facing. The worsening dependency ratio means governments are going to have to impose some combination of substantially increased taxes on younger workers, and measures like increasing the age of pension eligibility, means-testing for OAS, etc. to avoid a debt crisis. And since this is a problem electorates around the world remain in denial about, the rest of us are probably going to have to watch a major country like France suffer humiliating concessions imposed by a EU or IMF bailout before we willingly adopt painful measures to head off our own debt crisis.
This is why I shake my head at proposals to substantially expand public spending on things like seniors’ care. It’s like a ship’s passengers calling on the captain to increase speed while the lower decks are flooding under their feet.
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We've already ballooned the public sector under Trudeau by like 50% and at double the rate of population growth (which even he said was out of control).
It's almost like the budget doesn't balance itself lol. Even Carney knows it was stupid and hopefully follows his promise to cut year after year.