this post was submitted on 08 Jul 2025
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The government took on debt the same as households, using low interest rates to lever themselves up. Now that rates are rising due to aging demographics we are forced to look at our debt burden.
This is why what Trudeau Sr did was stupid, and why what Trudeau Jr did was stupid, all that spending is future austerity. The only way its not is if you debase the currency further using QE, and you shift those bonds to the FX market via a depreciated currency, which ends up in even higher interest rates.
Taking on debt is normal in a government budget. In fact you have to take on debt to be able to develop your country. As long as it remains below a certain percentage of the IGP, we're fine.
What this government fails to do, as all previous government failed to do for the past 40 years, is to tax the super wealthy and close tax loopholes.
That sounds like Keynesian ideology, which means investing in infrastructure. Which is not what we spent all that debt on.
What? Taxing the super wealthy?How does that sound like keynisean ideology???
I didn't even mention infrastructure in my comment so how did you get to that conclusion ???
Well spending money to grow requires the money be spent on infrastructure, if you're simply giving away money using borrowing then its obviously not going to have a yield greater than the input, and you'll be paying interest in perpetuity.
I still. don't see the link with having some normal debt levels and taking the super wealthy as a new source of revenue.