The report concluded that Canada’s rapidly accumulating debt is posing “serious fiscal challenges” and warned that today’s deficits and debt will lead to higher taxes and reduced social benefits in the years ahead. It also noted that there are no long-term plans to “meaningfully address the growing debt problem in Canada.”The NP Comment newsletter from columnist Colby Cosh and NP Comment editors tackles the important topics with boldness, verve and wit.
Then, in early 1990, in the middle of one of the worst automotive-industry downturns in decades, the company defaulted on certain debt-to-equity requirements laid out by the banks as a condition of the money they had lent us. We had walked a very thin line between recovery and ruin. I had come close to losing the entire business. Trying to keep the company afloat while paying down the debt was like swimming with a big cement block tied around our ankles, but we persevered and succeeded in slashing our debt much faster than anyone thought possible.
I’ve always maintained that when it comes to business, there is no such thing as bad workers, only bad managers. The same principle holds true for governments and their citizens. When countries sink deeper and deeper into debt, it’s usually the fault of poorly managed governments.
Thanks National Post great story and good research by Fraser Institute! Personally speaking thought debt was closer to 2 Trillion and could still be but hiding some I think! As a Senior we can't continue with Trudeau as Liberal Government spend our money like a drunken sailor!
You're laying off staff cause no one reads it.
'I was the chairman' .... 'Before we knew it the debt was $1B' .... Uhhh and we should take your advice why? Lol
Canadians need to realize that there is ‘no free lunch.’ Spending above your means and borrowing in order to continue massive spending is doomed to fail. Canada must get its financial house in order. Governments must be fiscally responsible in order to prevent future pain.
Belinda will not be happy with Frank for calling out Justin’s profligate spending…
I told ya! He's just not ready
The financial risk in Canada is from PRIVATE SECTOR debt. And for households & firms to meaningfully deleverage without crashing the economy, we're going to need large deficits indefinitely. Frank Srtonarch should get back to making that electric tricycle thing.
Canadians are too lethargic to care.
Pretty simple math and there's still to many people think it's some conservative conspiracy. Debt is a national crisis and someday sooner then later our federal government of the day will be forced to deal with it !
When Canadians are reminded of the Skyrocketing national debt, inflation carried by every CDN 18+ not incl personal debt This day of reckoning is not far down the ROAD as there is no Running or Hiding from this Reality and there is only one person at the Helm JustinTrudeau
Corporate owned CONservative propaganda machine full of CONservative cheerleaders alert! Just more supermarket tabloid trash talk!
Yup, all you young people supporting Trudeau, you wont be collecting your CPP until your 70 at least.
ScottHennig Is this like japan? The country with the highest debt per GDP of Any Nation on the planet. And now totally in turmoil? Or maybe it's not.
JustinTrudeau & cafreeland are driving the Cdn economy towards a fiscal cliff.
Let's get Trudope,his regime and all his liberal voters to pay for the mismanagement of money.
To accelerate the day of reckoning, Vote Liberal. Vote for Justin.
Going to be interesting to see how nations of people who never experienced true suffering and poverty before. We are heading for third world status and there's no turning back. Far too late for that. May the odds be ever in your favour.
Modern monetary theory. The government budget is nothing like a household budget, get it through your thick skull, Frank.
It is true. Canadians taxpayers cannot afford servicing this debt. JustinTrudeau cafreeland will be long gone but still inflict pain for generations. All that $$ spent and we are in shambles. liberal_party TrudeauIsDestroyingCanada TrudeauMustGo
It’s as if Trudeau is spending money like he knows a secret about the future