What are we doing to our kids? . . . .

[errolanderson]

When are governments going to wake-up to financial accountability and responsibility?

Apparently, Alberta debt is forecast to balloon to $96 billion by 2023. How can government have the right to do this? This is sickening . . . .

Who pays? . . . our kids

[farmaholic]

Then live like the Gov manages it's affairs. Go into debt without any intention of ever paying it back. Live large! The Social Safety Net will catch you and ensure a soft landing....and when you're old and in the old folks home...you will eat porridge out of the same pot as the guy who scrimped and saved and lived with in his means.

[WiltonRanch]

Old dogs come home to roost. Eventually this will all hit the fan. I’m afraid that because they’ve kicked the can for so long it will be a more dire consequence than if the system was left to crash in 2008. More global conflicts etc

[errolanderson]

Then live like the Gov manages it's affairs. Go into debt without any intention of ever paying it back. Live large! The Social Safety Net will catch you and ensure a soft landing....and when you're old and in the old folks home...you will eat porridge out of the same pot as the guy who scrimped and saved and lived with in his means.

farmaholic . . . I don't believe the average Cdn taxpayer has any idea of the financial consequences that lie ahead. Debt reality shock will mute economic recovery for some time (IMO).

[sumdumguy]

AND polls showing that NDP gaining in Ontario. If they win, I am out of this coo-coo nest. There”s no use busting your ass here. It’s going to the dogs.

[burnt]

farmaholic . . . I don't believe the average Cdn taxpayer has any idea of the financial consequences that lie ahead. Debt reality shock will mute economic recovery for some time (IMO).

"...some time..."

A decade?

A generation?

A culture?

[farmaholic]

"...some time..."

A decade?

A generation?

A culture?

My bet is on the "culture".

[burnt]

My bet is on the "culture".

Everyone loves an optimist...

[errolanderson]

Everyone loves an optimist...

'Change in culture' is the only way out, but voters must make this happen . . .

[farmaholic]

Everyone loves an optimist...

Thank you, I'm feelin the love.

I think cultural transition is already in place.

It's taught in school(unequivocal equity despite efforts, no one fails and participation awards) and immigration is contributing to the change.

But I guess change is constant.

[seldomseen]

It should be against the law for government to spend money they don't have.

When they spent more than they bring in they are forcing some future generation to pay for your lifestyle and that is not right.

[farmaholic]

'Change in culture' is the only way out, but voters must make this happen . . .

Part of what I described in the above post is part of the problem not the solution.

Too many people demand more than they deserve.....and don't want to pay for any of it.
Government spending on stupid useless stuff....bad decisions.

[errolanderson]

It should be against the law for government to spend money they don't have.

When they spent more than they bring in they are forcing some future generation to pay for your lifestyle and that is not right.

seldonseen . . . you are so right. Believe the cultural shift is already on. The incoming generation may be far more responsible with debt than their parents. Political strategy may change significantly to maintain power.

This is going to continue to hammer retail. Malls may turn into apartments and museums. If staying out of debt becomes hip, this is bad news for economies built on spending, greed and bank loans. The days of banker billion dollar quarterly profits might be numbered.

[biglentil]

Its a race to the bottom. Spend it while paper funny money can still purchase hard assets. Those days are numbered.

[grefer]

seldonseen . . . you are so right. Believe the cultural shift is already on. The incoming generation may be far more responsible with debt than their parents. Political strategy may change significantly to maintain power.

This is going to continue to hammer retail. Malls may turn into apartments and museums. If staying out of debt becomes hip, this is bad news for economies built on spending, greed and bank loans. The days of banker billion dollar quarterly profits might be numbered.

Sorry guys. I have never seen the younger generation be more frugal than the one before. They have been in part the beneficiary of spending beyond our means even though they dont know it. When was the last time they knew interest rates higher than 5 or 6 percent unless they didnt pay there credit card off. Not blaming them at all. The Majority of voters will do SFA until it is forced on them by something that is beyond govt control. This lets our elected officials off the hook by saying they had no choice and the Majority will believe it. The voters that do seem to understand the consequences of all this debt want it solved as long as it doesnt affect them. Ya right. Then again does it matter what we do here if our neighbors to the south go down. Probably not.