We are in debt

We are deeply in debt and it isn’t getting any better.

Take a look at the debt clock at the Canadian Taxpayers Federation.

Can you imagine what the US debt clock looks like?

It is enough to give one nightmares.

The worst of it is, we didn’t ask for it, we spoke against it but we get it anyway, and so will our children.

“He who has not the spirit of this age, has all the misery of it.”  Voltaire may not have had wasteful federal spending in mind when he penned this aphorism, but he could have.  The spirit of the age today is ‘spend, spend, spend.’  Sadly, it is taxpayers of tomorrow who will suffer the misery of increasing taxes that were driven by today’s outrageous spending on wasteful programs like corporate welfare. [link]

That includes wind turbine companies and other alternate energy programs that have to be heavily subsidised.  How can we fix it?  Start where we are, in Wolfville.

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5 responses to “We are in debt

  1. Presently about 10% of NS provincial revenue goes to servicing debt. Almost as much as is spent on primary and secondary education!

    If this 10% drain on governmental productivity translates (conservatively) to a 1% drain on the economy of the province — then over time this will compound to a point where we achieve third-world status (although some might argue we’re already there).

    The basic problem is that we don’t elect people based on their problem-solving ability — instead we elect nincompoops, who’s sole ability is to deceive a very mediocre electorate into voting for them.

    It gets worse. Having elected these fools to high positions, they then set about over-populating a bureaucracy that is equally limited.

    As for those lame-brained economists, politicians, and self-interested SIG’s who advise to “spend spend spend”…. they never saw the problem coming, and they don’t justify their advice with logical argument. Instead, they rely on the sad tendency of sheep to follow oft-repeated bleating.

    I don’t hold out much hope of saving the nation/province/Wolfville. The best we can do is try to avoid jumping off the cliff with the rest of the fools.

  2. It’s enough to give one nightmares –

    http://directorblue.blogspot.com/2009/01/scariest-chart-ever.html

    and that was January-

    the thing is – the US is jumping off the cliff and guess who is tied to them?

  3. Either our “leaders” had better start thinking straight and let the market do it’s job, or the market is going to hit the reset button like we have never seen before.

  4. That debt clock has a bug.

    There has to be a crash when “your share” hits $999,999.99

  5. And at this rate it won’t be that long!