Canada’s debt hits over 65 per cent of GDP under Trudeau — If you spent $1,000,000 per day paying back Canada’s current deficit it would take thousands of years to pay it all back! Canada’s debt currently sits at $873,418,334,018 (873 billion) at the time of writing this article. This all comes on the heels of Trudeau’s announcement that he would be giving away over 200 million to “black entrepreneurs.”
Recently, I found myself calling around to various gold refineries. I was shocked at what I was hearing from various owners. I couldn’t find physical gold or silver anywhere! I was told at three different places that they were out of stock and waiting for more to come in. This isn’t exactly comforting if you understand why gold and silver have picked up in demand.
When governments print money (debt), they are devaluing the value of the rest of the currency already in circulation. This means that the purchasing power of our hard earned money goes down every time Trudeau decides to go on a spending spree in an attempt to buy votes and hope voters forget all of his past unethical behaviours — many which merit RCMP criminal investigations (SNC-Lavalin, WE charity and Aga Khan scandals).
Right now the Canadian dollar’s value is only really based on our ability as citizens to pay taxes on our nations debt. What do I mean by that? Right now the value of our money or our purchasing power as Canadians is directly tied to our countries Gross Domestic Product (GDP). In essence, the value of our currency is almost directly determined by our ability to make payments on our debt.
How large the GDP is as a percentage of the entire economy is a very important figure and under Trudeau that number has ballooned to 65 per cent of the economy. It’s worth noting at this time that Canada has a higher debt as a percentage of GDP than Mexico or the communist nation of Vietnam according to The Economist.
Canada’s public debt sits at 85 per cent of GDP. Do you really think there is a lot of extra room for more spending Prime Minister Trudeau? Of course not, it’s never been about whats best for Canadians — only about what’s best for you. Hot off the tail end of another scandal as you prorogue parliament? Dish out 200 million dollars of the taxpayers hard earned money in an attempt to shift focus!
As a comparison, Vietnam has a lower public debt as a percentage of GDP sitting at 45.6 per cent compared to Canada’s 85 per cent. Not exactly something to be proud of is it? Holding double the amount of public debt as a percentage of GDP, not to mention Vietnam is also lower in debt overall as their percentage of GDP sits around 54.3 per cent this year. This means not only is the populace less in debt in Vietnam, so is their government.
Canada sits on the edge of a slippery slope. It is time we as Canadians demand accountability out of our government. It is child abuse to pass on debts to the next generation for services they will never receive — and it’s about time we start acting like it.
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