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dani tav

Op-Ed: Canada's deflating economy - 1 views

www.digitaljournal.com/...307371

Government attempts to Bail out Canada Debt Large Defecit

shared by dani tav on 01 Jun 11 - No Cached
  • The reason for the minimal GDP growth that we had was government spending increased over this period and government debt increased by about $139 billion.
  • Government Debt
  • The government is in a dilemma now. Despite the rosy forecasts they like to create showing how well our economy is doing there are reasons for major concerns.
  • ...4 more annotations...
  • The government's attempt to continue economic growth by borrowing has failed. Canada's economy is going nowhere and we are farther behind because of government debt. The future does not look much better for Canada's economy.
  • Canada's net debt had grown to $582 billion, up from $516 billion two years earlier.
  • Government spending cannot continue to increase especially when it is financed by debt. The recession was started by economies overloaded with debt. Rather than deal with the imbalances government decided to increase spending "grow the economy" and create more debt. Now we are in a predicament that there are no tools left for governments to throw at the economic problems.
  • government borrowing huge amounts of money to bolster the economy
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