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Canadian Budget

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February 26, 2008 – Comments (5)

I just saw it and with what I saw, I am relieved...

It does look like they are planning for a slow down and there are not perks except the one to encourage savings.

Canada has paid back over $100 million of debt in the past 10 years and it simply makes us much stronger to weather the coming slow down.

With roughly 1/10th the population, that's like America paying back a trillion of debt.  I think instead America doubled its debt... 

 

5 Comments – Post Your Own

#1) On February 26, 2008 at 9:51 PM, Tastylunch (29.41) wrote:

I guess Canada isn't run by supply siders.

Yeah eventually our debts is going to comeback to bite us down here in States.

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#2) On February 26, 2008 at 9:52 PM, Bupp (28.62) wrote:

I like the $250 million for cleaner auto tech.  Canada should definitely seek to be a leader in the global warming game.  Some huge money to be made updating everyone's gear up to more eco-friendly standards.

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#3) On February 26, 2008 at 10:22 PM, Tastylunch (29.41) wrote:

I guess Canada isn't run by supply siders.

Yeah eventually our debts is going to comeback to bite us down here in States.

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#4) On February 27, 2008 at 12:39 AM, dwot (45.58) wrote:

Tasty, Canada made a lot of sacrifices to get debt under control before we had a boom in commodities.  I think Brian Mulroney's legacy and teachings still live with us.

I have lived through having to deal with government struggling to control debt and high housing costs.  I go on about my former debt, but I kept it extremely conservative in comparison to what banks would have allowed and I know that level of debt was a struggle and endless burden... 

Ok, so it was a struggle because we also got hit with under employment and wage cuts.  Think those things are going to be avoided in this mess?  I think more people will also be sharing those kinds of experiences.

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#5) On February 27, 2008 at 12:57 AM, Tastylunch (29.41) wrote:

I agree with you. I've always been a balanced budget, fiscal responsibility kinda guy and so has my state of Ohio.

for the record I don't think employment/ wage cuts issues are going to be avoided successfully down here. The banks has ve laid off a lot of folks already. 

Sooner or later debts have to be repaid, even a government's . You Canadians hopefully will reap the benefit of dealing with your country's debt.

Maybe if things get really bad down here I'll have a place to move :-)

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