When debt is talked about its usually divided on a per capita basis such as every man woman and child owes $X. But that's not how debt works in our country. The equalization is skewed east but so is the debt.
“A substantial federal deficit during a period of economic expansion is bad news for all Canadians—but it’s especially concerning in Ontario, which is also saddled with a whopping $346 billion provincial debt.
That sounds bad enough. Until you consider that Ontarians are also on the hook for approximately 40 per cent of the federal government’s net debt, which comes to about another $280 billion. Add these up, and you find that Ontarians are responsible for an aggregate net debt load of approximately $625 billion.â€
By estimates AB and SK are on track to have about $110B in debt sending $15B a year in equalization probably rising to $20B. If those two provinces separated and took there share of the federal debt with them, we could likely pay that off in a reasonable timeframe with our equalization money.
There is no chance that the East will ever pay off their debt. It can only be serviced now on the backs of the west. So would we better off separating, you bet we would. There is nothing eastern Canada does for us. Might as well be another country.
https://calgaryherald.com/news/politics/braid-worried-about-alberta-debt-pity-poor-ontario Worried about Alberta debt? Pity poor Ontario
“A substantial federal deficit during a period of economic expansion is bad news for all Canadians—but it’s especially concerning in Ontario, which is also saddled with a whopping $346 billion provincial debt.
That sounds bad enough. Until you consider that Ontarians are also on the hook for approximately 40 per cent of the federal government’s net debt, which comes to about another $280 billion. Add these up, and you find that Ontarians are responsible for an aggregate net debt load of approximately $625 billion.â€
By estimates AB and SK are on track to have about $110B in debt sending $15B a year in equalization probably rising to $20B. If those two provinces separated and took there share of the federal debt with them, we could likely pay that off in a reasonable timeframe with our equalization money.
There is no chance that the East will ever pay off their debt. It can only be serviced now on the backs of the west. So would we better off separating, you bet we would. There is nothing eastern Canada does for us. Might as well be another country.
https://calgaryherald.com/news/politics/braid-worried-about-alberta-debt-pity-poor-ontario Worried about Alberta debt? Pity poor Ontario
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