Should the government make cuts to public spending in order to reduce the national debt?
The Liberals' inaugural budget contains a $29.4-billion deficit for 2016 which is 10.2% of government spending. Proponents of spending argue that it is a great time for the government is going to borrow money, since interest rates are at 50 year lows. Opponents argue that the spending could get out of control and the debt could easily reach $100 billion a year by 2020.
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Drastic reductions in the government's ability to extract wealth from Canadians, with the end goal of making the concept of "public spending" understood as synonymous with corruption and theft, and ultimately undermine confidence in the state. Defaulting on the national debt would be preferred, however arguments could be made for allowing the US to absorb our debt in exchange for statehood.
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@9FL7SJ93yrs3Y
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@B8PLDGL 7mos7MO
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