Canada will be bankrupt in five years, just like Madagascar, Greece, etc. Countries don’t actually go bankrupt, but there will no longer be any investors who will want to buy our worthless government debt, whatever the return on investment. The Liberals under Carney are trying to run the country into the ground with an expected budget deficit of some $92 billion this year and some $60 billion each year for the next four years. These deficits are twice those of his predecessor, the profligate Justin Trudeau, who never balanced a budget during his ten years in power. Jason Jacques of the Interim Parliamentary Budget Office recently called Carney’s budget “unsustainable”.
We are stuck in a debt spiral like Britain, France, and the US. A lot of it is debt for overly expensive welfare programs and a total lack of fiscal responsibility. We need a debt brake and to cut legislation that is killing business in this country.
The consequences of insolvency will be:
- major cuts in federal manpower;
- privatization of Canada Post;
- no more subsidies to CBC and Radio-Canada & possible privatization;
- reduced old age pension payouts;
- no federal funding for health care;
- no federal funding of equalization payments to provinces;
- no public funding for day care;
- no dental care payouts;
- cuts to major military expenditures and exit from NATO;
- make Canada a Republic and get rid of ten wasteful lieutenant governors
- Further cuts might include the merging of the smallest provinces: NB & P.E.I./N.S. & Nfld.
We have 60 months to turn it around!
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