$155 million ‘all new money’: D’Entremont. So says the headline in our local paper in aid of, we are told, a “good life and prosperity for each and every Nova Scotian” which will be the result – it is supposed- from a new provincial “poverty reduction strategy“. The headline sure got our attention. New Money. What is that? Where is this “new money” coming from?
Is it growing on trees? Surely not. We weren’t born yesterday. Perhaps it is counterfeit money, that would be new money wouldn’t it? But that’s illegal and we don’t think that source could be it. Oh! Maybe the Federal Government is PRINTING money. That would be legal. But doesn’t that lead to inflation so then our money would be worth less.? OR someone [some government] somewhere is borrowing it. That MUST be it. And who are they borrowing it from? The taxpayers. Oops that’s us! Or perhaps our sons and daughters and the grandkids – if they can afford to have any. It’s okay of course if it isn’t OUR kids and grandkids but YOUR kids and grandkids we are borrowing from, if ours end up living on welfare and don’t pay any taxes at all.
Now it may be very worthwhile to borrow money for the purpose of retraining, affordable housing, etc. [there was no mention of how results would be measured to ensure value for money and we fear most will go to high end admin jobs for the elite] but puleeze don’t tell us it is all new money. We weren’t born yesterday.