this post was submitted on 01 Nov 2025
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I’m all for reducing the deficit responsibly but what’s with the neoliberal obsession of balancing budgets? This isn’t a business, you’re caring for a nation.
Um, because NOT balancing a budget means massive amounts spent on the national debt. Currently Canada has to pay 1 BILLION A WEEK on interest alone. Thats your and my hard earned tax money being spent just to pay interest, not even paying down the actual debt.
Now imagine if we had a balanced budge AND we could pay off our debt, like the way any financially responsible, prudent person runs their household. What could 1 BILLION dollars a week buy Canada? Imagine spending that on building roads, hospitals, schools, and properly funding all our social programs. We could offer free university tuition to any Canadian who wants it. Hell, we could actually build up a decent Heritage Fund like Norway has, and provide security for the entire country even with a maniacal partner threatening us.
When AB paid off its provincial debt years ago under Klein, we still funded our programs and every AB citizen got a $400 cheque because we were in a surplus. Yes, it took austerity, but we weren't wasting money on interest.
But instead our federal gov blows our tax money on interest payments. Just not logical.
And now please stop imagining such nonsense and remember that a national budget is in no way comparable to that of a household.
Not directly comparable, but there are shared principles. The main one being "If you put everything on a credit card and just keep making those minimum payments, it eventually catches up with you and something catastrophic happens. If you don't deal with it your kids will"
When we're near the bottom of the barrel for GDP in such a resource rich country, there's obviously something very wrong.