Quote:
Originally Posted by Acajack
I don't think this government are good managers by any stretch but our debt to GDP ratio is still better than almost any peer country of ours.
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If one only looks at the federal debt-to-GDP, it looks middling.
When one adds in the provincial debts as well, the picture looks more bleak. Especially as we now realize the liabilities of healthcare/OAS promises made.
And no, the US is not a peer country, as it issues debt in the world’s reserve currency. Nor Japan, who funds much of its debt internally.
Comparative countries to our economic and demographic structure might include Australia, New Zealand, Scandinavia, and the UK. Aside the UK, we compare poorly to them.