Pay no attention to the broken windows. All the right people are still getting rich.
… Parliamentary Budget Officer Annette Ryan warned that federal debt is growing twice as fast as deficits. That’s because loans to Crown corporations are booked as assets, and military purchases are expensed slowly over time.
“This obscures the realities of cash debt and raises questions about whether the current fiscal framework provides a complete and transparent picture of Canada’s fiscal sustainability,” Ryan said, according to The Globe and Mail.
The Globe reports the PBO now sees federal debt rising to $1.67 trillion in 2030-31 from $1.3 trillion in 2025-26. It points to Build Canada Homes, the Canada Strong Fund and the proposed defence investment Crown as examples of the Crown corporation model.
The PBO’s Economic and Fiscal Outlook projects cumulative deficits of $333.3 billion over the next five years, while federal borrowing rises by $732.9 billion. It projects public debt charges, the budget’s fastest-growing expense, at $59.3 billion in 2026-27, up from $24.5 billion in 2021-22, and at $83.0 billion by 2030-31. The National Post also reported the debt-charge figures.
The PBO also says new spending has already used up the oil-price windfall.
So here’s the question nobody in Ottawa wants to answer. Why? Why book hundreds of billions in borrowing as “assets”? Why spread military purchases out so they barely show up on the books? Why does the government’s own budget watchdog have to tell you the real numbers? If the finances were fine, they wouldn’t need to hide them. And yet they keep hiding the numbers.
Not related, but it rhymes: “He had people inside financial institutions”
Why book hundreds of billions in borrowing as “assets”?
So you can borrow more.
2+2 =5
I still do old school math because if my debts were assets I’d be flat broke.
Can Ahh Duh is broke.
Every thing our Parasitic Overload says is a lie.
Liberals and the Never Done Payers have 65% support from Canadians who vote.
Albertan’s are apparently too stupid to see the ways they are being ripped off.
Interest on borrowed money now exceeds the cost of our traditional money pit,Healthcare.
Healthcare has usually cost 50% of government expenditures.
So now healthcare and debt servicing exceed 100% of public spending.
And,to top off the insult,Eastern Canadians and freeloading parasites like Fat stalin..call us “Traitors”.
The incurious grazers under the influence of one of the planet’s least free (most state-dependent) press, believe that a former central bankster who built a career around pretending to manage the monetary tinkering of Keynesian nonsense by “gradually” transitioning the ultimate achievement of the intrinsic value of (all) fiat currencies while perfecting the art of obfuscation for morons – to be a brilliant PM. The Carney personifies the arrival of end-stage democracy both as doubling down on bankruptcy of the treasury along with the conversion to a one man parliament (dictator).
We’re still in Phase 1 of the Bankster Plan!
Borrowing our way to Prosperity. ALL ABOARD!!!
Phase 2 coming soon.
TAXING our way to Prosperity.
Don’t worry. Mr PhD Banksterman is in charge and knows what he’s doing, right?
Those people in Alberta who voted to stay within Canada, believe the federal gov’t will take care of them.
And if they can’t, the EU will…
If it makes you feel any better, one of my husband’s employees was talking very loudly at work about his girlfriend from Nova Scotia, and how he might move up to Canada because “everything is free up there! I could go to school for free! and get free healthcare and all of it!).
Since this particular underling is a particularly lazy and complaining sot, my dear spouse is encouraging him to do just that. FYI: a production line job may be coming available in the U.S. soon; granted, it’s a bottom rung job (as said employee has never, ever been motivated to advance) but the cost of living is still rather low in this area, so a single man or woman can get comfortably by on it.
From the related link at the end
“So it’s that rapid pace that we have to have and we have to cut the bureaucracy in Canada.”
Oh oh, he just touched the Ottawa third rail that upsets the bureaucracy the dependency and it’s political arm(aka the progressive left wing).
He just made anyone working that file an existential threat to how Ottawa works.
In all fairness, when you incur debt, the other side of that transaction expects it to be repaid. Unless your name is Solyndra.
sometimes things take decades to happen overnight.
like the collapse of a nation. insurmountable debt will do that.
the stage player CanaDUH so far got their performance spot on,
the exalted prettyboy hero who is actually a dilatant mesmerizing them for a decade,
DOUBLING the debt. thats important.
etc etc.
its coming all you skcufbmud out there, but true to form my warnings get ignored because
lm not a *charismatic prettyboy*.
and when they come for me?
its called ‘lm gonna take as many of them with me as l can’
L – One of the specious arguments by the “Forever Canada” Psy-Op squad; one that Danielle Smith seems to fall for, was that Alberta could not afford independence. This supposedly due to being financially subsidized by Ottawa, via federally administered services. If this was true, then Alberta(and Sask.) would be recipients of equalization payments, rather than the reverse to the tune of $10-30 billion/yr.
The fact that the rest of Canada, too, has a wealth of natural resources, enough to avoid biblical levels of debt slavery. Levels designed make Carney into our Canadian Pharaoh. That fact must be kept below the awareness of a critical mass of Canadians; who would otherwise rise from their knees and confidentially shoulder the responsibilities of a self governing people.
This is why the cabal of globalist oligarchs use social media to print maps in our heads labelling
Independence as “Here Be Dragons”.
And how much will the Total Gross Federal Debt end up at? Because it’s currently $2,182.3 Billion
Carney = What would have happened if Michael Ignatieff (sp?) had actually been elected. I can only hope and pray that the DNC comes nowhere near the fake polls of a blue wave for both the House and Senate in the mid terms. The US is the last holdout for total globalism. The EU is literally creaming themselves for a Yankee Trudeau/Macron in the White House.
” … loans to Crown corporations are booked as assets …”
So Canada’s most corrupt institution (the federal government) loans (mostly) borrowed money to entities that are the corporate equivalent of town drunks and calls these deals “assets”.
(Geez, I’m getting tired of writing Pee-pee’s speeches.)