Author Topic: Government Day-to-Day  (Read 7080 times)

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Offline waldo

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Re: Government Day-to-Day
« Reply #30 on: December 17, 2019, 04:23:48 am »
How much was that revised deficit again? Oh, 26.6 billion.

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Online wilber

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Re: Government Day-to-Day
« Reply #31 on: December 17, 2019, 08:48:31 am »


economist/UBC econ prof Kevin Milligan... has a graph for that! => Federal debt service as a percent of GDP back to the 1960s - lowest in at least 55 years.



 But it has been rising in the past three years, in spite of a supposedly strong economy.
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Online wilber

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Re: Government Day-to-Day
« Reply #32 on: December 17, 2019, 09:25:58 am »
The deficit is now 34% higher than projected just 8 months ago, supposedly in a healthy economy. Why would anyone believe their projections six months from now, let alone five years.
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Offline ?Impact

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Re: Government Day-to-Day
« Reply #33 on: December 17, 2019, 11:47:34 am »
Debt to GDP declined between 2012 and 2015. Since then it has gone up 2.8%.

Canada government DEBT:GDP hit a high in 1995, a low in 2007 and increased until 2016 when it started to go down again. There was also a small drop between 2013-14 and a small increase between 2000-01.


Offline waldo

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Re: Government Day-to-Day
« Reply #34 on: December 17, 2019, 11:56:38 am »
But it has been rising in the past three years, in spite of a supposedly strong economy.

no - again, federal debt service as a percent of GDP is at its lowest point... in at least 55 years; again, economist/UBC econ prof Kevin Milligan... has a graph for that! => Federal debt service as a percent of GDP back to the 1960s - lowest in at least 55 years.


Online wilber

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Re: Government Day-to-Day
« Reply #35 on: December 17, 2019, 12:00:27 pm »
Canada government DEBT:GDP hit a high in 1995, a low in 2007 and increased until 2016 when it started to go down again. There was also a small drop between 2013-14 and a small increase between 2000-01.



Those numbers are for federal and provincial debt combined, not federal debt. Federal debt to GDP declined from 2012 to 2016 and has since gone up slightly.

Instead of modest 10 billion deficits declining to zero in four years, by his own estimates Trudeau is no track to add 175 billon to the debt, but only if the economy stays strong. I think that number will turn out to be highly optimistic.
« Last Edit: December 17, 2019, 12:02:20 pm by wilber »
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Offline waldo

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Re: Government Day-to-Day
« Reply #36 on: December 17, 2019, 12:01:24 pm »
The deficit is now 34% higher than projected just 8 months ago, supposedly in a healthy economy. Why would anyone believe their projections six months from now, let alone five years.

already answered: again, your highlighted 34% increase (from $19.8 billion for the 12-month period that ends in March... now slated to hit $26.6 billion) is principally driven by changes to how employee pensions and benefits are calculated:



Offline waldo

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Re: Government Day-to-Day
« Reply #37 on: December 17, 2019, 12:04:46 pm »
Federal debt to GDP has gone up slightly since 2016.

why are you ignoring the fact that servicing of that debt is quite manageable... as a percentage of GDP, at its lowest point in at least 55 years.

I think that number will turn out to be highly optimistic.

more wilberMath, hey!  ;D

Online wilber

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Re: Government Day-to-Day
« Reply #38 on: December 17, 2019, 12:05:43 pm »
already answered: again, your highlighted 34% increase (from $19.8 billion for the 12-month period that ends in March... now slated to hit $26.6 billion) is principally driven by changes to how employee pensions and benefits are calculated:



So what, that was there when the 19.8 billion estimate was made. Was the 19.8 just BS in the first place.
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Online wilber

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Re: Government Day-to-Day
« Reply #39 on: December 17, 2019, 12:07:45 pm »
why are you ignoring the fact that servicing of that debt is quite manageable... as a percentage of GDP, at its lowest point in at least 55 years.

more wilberMath, hey!  ;D

Next time you buy a car, just pay interest on the loan and pass the debt on to your kids when you die. I'm sure they will understand about your debt being manageable.
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Offline waldo

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Re: Government Day-to-Day
« Reply #40 on: December 17, 2019, 12:17:44 pm »
Next time you buy a car, just pay interest on the loan and pass the debt on to your kids when you die. I'm sure they will understand about your debt being manageable.




Online wilber

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Re: Government Day-to-Day
« Reply #41 on: December 17, 2019, 12:21:42 pm »


So obviously you don't care about sticking other people with your debts.

Now I understand why 46% of Canadians are $200 or less away from not being able to meet their monthly financial obligations.
« Last Edit: December 17, 2019, 12:24:16 pm by wilber »
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Offline waldo

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Re: Government Day-to-Day
« Reply #42 on: December 17, 2019, 12:23:34 pm »
So obviously you don't care about sticking other people with your debts.

protip: as you've been shown, debt servicing is quite manageable today

Online wilber

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Re: Government Day-to-Day
« Reply #43 on: December 17, 2019, 12:26:06 pm »
protip: as you've been shown, debt servicing is quite manageable today
s

Yup, who gives a **** about actually paying for anything as long as you can pay the interest.

I repeat.
Now I understand why 46% of Canadians are $200 or less away from not being able to meet their monthly financial obligations.
"Never trust a man without a single redeeming vice" WSC

Offline waldo

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Re: Government Day-to-Day
« Reply #44 on: December 17, 2019, 12:38:13 pm »
hey chickenLittle, Canada's debt-to-GDP ratio is the lowest among the G7 countries!