Verteidigungsausgaben, um das Defizit bis 2035 „erstaunliche“ Summe hinzuzufügen, warn
https://www.ctvnews.ca/business/article/defence-spending-to-add-staggering-sum-to-deficit-by-2035-think-tank-warns/
Verteidigungsausgaben, um das Defizit bis 2035 „erstaunliche“ Summe hinzuzufügen, warn
https://www.ctvnews.ca/business/article/defence-spending-to-add-staggering-sum-to-deficit-by-2035-think-tank-warns/
10 Kommentare
„In a new analysis released Thursday, the think tank said it expects Canada’s deficit to top $92 billion this fiscal year, given Prime Minister Mark Carney’s plan to meet NATO’s defence spending target of two per cent of GDP.“
I mean at some point you have to bite the bullet and accept some debt if you are spending on your own country. This is necessary spending. The US didn’t become the most powerful military in the world by worrying about defecit spending and exercising austere fiscal policy
With the US turning it’s back on literally everyone and the degradation of our military for ages, it’s gotta be done.
We’re no longer talking about balancing budgets. Sometimes in life you need to borrow in an emergency. This emergency was caused by decades of doing very little and world events requiring us to act now. That doesn’t make it any less an emergency. Maybe next time we can put some aside to save for the crisis but not this decade.
Anyone wondering why we never met the benchmark, look no further than the discourse of Carney announcing he’s going to.
It is political suicide any time in the past 40 years (prior to January 2025)
Funny how it’s suddenly acceptable to throw billions at defense industry money holes even if it increases the national debt and deficit, but talk about spending, for example, on healthcare for the neediest segments of our population and people start counting pennies. Worth noting that all this spending is going to do zilch protecting Canadians from the biggest threat just south of our border.
This has always been evident, but nobody actually cares about the deficit. It’s a proxy for what issues people consider a priority, and what they don’t.
When the austerity comes for basic programs that actually make Canadians‘ lives better, it will be important to remember how ready people were to hand-wave away $150B/y on military spending.
When 40% of your GDP is from bureaucracy and accounting bs, it makes spending 5% of GDP for defense really painful.
Depends how much of the money is spent on domestic industry. Every dollar spent here is *someone’s* taxable income, so the more they can support Canadian industries, the lower the net cost.
To add some perspective: A $77 billion deficit in a roughly $3 trillion GDP (which is where we will be in the next few years) is a deficit-to-GDP ratio of around 2.57%. While higher than we might like, it’s not exactly extreme and still lower than the other G7 countries (Germany is around 2.5%). Similarly, the report says that over the next five years Canada’s net debt will grow from 43.4% of GDP to 44.2%. Again, while we would rather not see an increase in that number, it’s not exactly a runaway explosion of debt relative to our economy.