Questions for PM
#32
Account Closed
Joined: Jan 2006
Posts: 0
Re: Questions for PM
Congress is just as guilty if not more so when it comes to budget issues and debt in the US. It's not solely the presidents issue/decision.
compare that to the UK national debt in 1968 ~£ 33 billion to today's £1.8 trillion or ~£28.989/person.
Now, compare the UK debt to Canada 1968 $78 billion to 2017 $636 billion or ~$17,000/person.
Canada is a good place to be eh!
US national debt today is huge, yet in 1968 it was $348 billion, but is it really all that bad living in debt?
US national debt (changing fast by the second) is ~$20 trillion or $64,000/person & you cannot blame that or any of the historical debt on Trump, maybe the last 8 years Obama really screwed things up.
https://www.thebalance.com/national-...events-3306287
Australia national debt
$519 billion or $21,848/person
.
Now, compare the UK debt to Canada 1968 $78 billion to 2017 $636 billion or ~$17,000/person.
Canada is a good place to be eh!
US national debt today is huge, yet in 1968 it was $348 billion, but is it really all that bad living in debt?
US national debt (changing fast by the second) is ~$20 trillion or $64,000/person & you cannot blame that or any of the historical debt on Trump, maybe the last 8 years Obama really screwed things up.
https://www.thebalance.com/national-...events-3306287
Australia national debt
$519 billion or $21,848/person
.
#33
Re: Questions for PM
You have an odd fixation with this Wynne person. Tomorrow I shall ask people around me in the office "did you vote for Wynne?". I'm close to certain that no one will recognize the name. I'd do better to ask "what about that Harry Kane?". Three or four percent of people will know who Harry Kane is and be interested in what he does.
#34
Re: Questions for PM
Of course I don't think America will have eight years of Trump. The question for me is "will America have eight years after electing Trump?".
#35
Re: Questions for PM
You have an odd fixation with this Wynne person. Tomorrow I shall ask people around me in the office "did you vote for Wynne?". I'm close to certain that no one will recognize the name. I'd do better to ask "what about that Harry Kane?". Three or four percent of people will know who Harry Kane is and be interested in what he does.
#37
Re: Questions for PM
I think it depends on what he can do for jobs. If by tearing up the rule book he can improve that aspect of the US economy, I think Americans will overlook his numerous other faults. Indeed, they already have.
#38
Re: Questions for PM
Seeing so much moaning from foreign immigrants towards a PM of a political party that kept the laws so laxed for them to immigrate to Canada in the first place is so hilarious. I bet Canada's national debt wasn't on your mind back then, nor would most of you qualify to be here under that Harper guy's profound immigration laws. Just saying
Last edited by Edo; Jan 16th 2017 at 4:14 am.
#39
Lost in BE Cyberspace
Joined: Nov 2011
Location: Somewhere between Vancouver & St Johns
Posts: 19,840
Re: Questions for PM
Seeing so much moaning from foreign immigrants towards a PM of a political party that kept the laws so laxed for them to immigrate to Canada in the first place is so hilarious. I bet Canada's national debt wasn't on your mind back then, nor would most of you qualify to be here under that Harper guy's profound immigration laws. Just saying
FYI I was sponsored by a Canadian wife in 1988 and her parents were immigrants.
#40
Re: Questions for PM
Seeing so much moaning from foreign immigrants towards a PM of a political party that kept the laws so laxed for them to immigrate to Canada in the first place is so hilarious.
I bet Canada's national debt wasn't on your mind back then, nor would most of you qualify to be here under that Harper guy's profound immigration laws. Just saying
I bet Canada's national debt wasn't on your mind back then, nor would most of you qualify to be here under that Harper guy's profound immigration laws. Just saying
Even Canadians moan about their PM, as do immigrants in the UK as well as Brits born in the UK moaning constantly about the 'state of affairs'
Edo, are you an immigrant to Canada?
#42
Forum Regular
Joined: Jan 2011
Posts: 181
Re: Questions for PM
Looking at the current debt financing cost for Canada, and it becomes evident that those costs are behind the call from finance ministers for austerity.
"Canadian governments (including local governments) collectively spent an estimated $60.8 billion on interest payments in 2014/15. That works out to 8.1% of their total revenue that year. To further put the amount spent on interest payments in perspective, it is more than what is spent on pension benefits through the Canada and Quebec Pension Plans ($50.9 billion), and approximately equal to Canada’s total public spending on primary and secondary education ($62.2 billion, as of 2012/13, the last year for which we have finalized data)."
For the UK, the current financing costs for its national debt is £43 billion.
This intergenerational debt transfer is behind the justified "can't pay" cry of younger generations-why hospitals, schools and infrastructure are neglected, pensions squeezed, and investment compromised. Someone does have to pay however.
Anybody remember Paul Martin, often described as the best Prime Minister Canada never had? In the late '90s, the Chretien government made a determined effort to curtail spending, and real reductions were made not only in the growth of public spending, but total debt. It was the only time that I can remember when national debt appeared to be taken seriously.
In the UK, George Osborne took a similar course, but he got tossed, and now T. May seems set to open the spigot again with the usual "money is cheap."
"Canadian governments (including local governments) collectively spent an estimated $60.8 billion on interest payments in 2014/15. That works out to 8.1% of their total revenue that year. To further put the amount spent on interest payments in perspective, it is more than what is spent on pension benefits through the Canada and Quebec Pension Plans ($50.9 billion), and approximately equal to Canada’s total public spending on primary and secondary education ($62.2 billion, as of 2012/13, the last year for which we have finalized data)."
For the UK, the current financing costs for its national debt is £43 billion.
This intergenerational debt transfer is behind the justified "can't pay" cry of younger generations-why hospitals, schools and infrastructure are neglected, pensions squeezed, and investment compromised. Someone does have to pay however.
Anybody remember Paul Martin, often described as the best Prime Minister Canada never had? In the late '90s, the Chretien government made a determined effort to curtail spending, and real reductions were made not only in the growth of public spending, but total debt. It was the only time that I can remember when national debt appeared to be taken seriously.
In the UK, George Osborne took a similar course, but he got tossed, and now T. May seems set to open the spigot again with the usual "money is cheap."
#43
Re: Questions for PM
There are only five people besides me here this morning. One knew that it was a woman and the position she holds but didn't vote. I don't know if the others are eligible to vote, they don't seem to have done so and they didn't know the name.