Economy 52,840 Posted April 10, 2020 Share Posted April 10, 2020 https://www.google.ca/amp/s/nationalpost.com/news/covid-19-federal-deficit-projected-to-reach-184b-as-economic-response-rolled-out/amp Canadas deficit is projected to be $180 Billion to $200 Billion or about 10X more than the usual annual $18B to $20B deficits or about 10 years worth in a single year The debt to GDP ratio of 30% is forecast to surge to 40% tho that is still very low compared to most Nations Deficits had been kept at 1% of GDP but now will run between 8.5% to 10% of GDP Link to post Share on other sites More sharing options...
Economy 52,840 Posted April 10, 2020 Author Share Posted April 10, 2020 @JustinTrudeau @Teal Ambition @juicyjuicy @OBEY @littlepotter This is insane. I never thought I'd see Canada run a deficit of almost 10% of GDP Link to post Share on other sites More sharing options...
Chromatic Lover 868 Posted April 10, 2020 Share Posted April 10, 2020 8 minutes ago, Economy said: @JustinTrudeau @Teal Ambition @juicyjuicy @OBEY @littlepotter This is insane. I never thought I'd see Canada run a deficit of almost 10% of GDP That's not a good thing though. I hope your country don't start going on a spending spree like madmen like the ones we have in the US. Link to post Share on other sites More sharing options...
Economy 52,840 Posted April 10, 2020 Author Share Posted April 10, 2020 21 minutes ago, Chromatic Lover said: That's not a good thing though. I hope your country don't start going on a spending spree like madmen like the ones we have in the US. And I did not say it was a good thing Edit: also we been in serious trouble before where by the mid 90s our debt got so high that we were forced into deep cuts (budget surpluses then lasted until 2008) Our debt went up to 70% of GDP. That may not seem crazy high now but back then it was because interest rates used to be higher so Countries couldn't hold as much debt as now Link to post Share on other sites More sharing options...
Maleficent 6 Posted April 10, 2020 Share Posted April 10, 2020 That's it. I'm moving back to Malibu. Link to post Share on other sites More sharing options...
LaLuna 12,732 Posted April 10, 2020 Share Posted April 10, 2020 I mean, it was to be expected. I'm not an expert by any stretch of the imagination, but I think the system has been deeply flawed and unsustainable for a very long time, this pandemic is just the final nail in the coffin. Link to post Share on other sites More sharing options...
Economy 52,840 Posted April 10, 2020 Author Share Posted April 10, 2020 17 minutes ago, Maleficent said: That's it. I'm moving back to Malibu. Hope it's not just cuz of debt? Malibu is in the US Canada debt right now: 30% of GDP USA: 107% of GDP By end of year... Canada: 40% of GDP USA: Well over 110% of GDP Link to post Share on other sites More sharing options...
Maleficent 6 Posted April 10, 2020 Share Posted April 10, 2020 Just now, Economy said: Hope it's not just cuz of debt? Malibu is in the US Canada debt right now: 30% of GDP USA: 107% of GDP By end of year... Canada: 40% of GDP USA: Well over 110% of GDP Nah I'd just rather watch the world go to sh*t on the Malibu beaches than in Rainy Vancouver Link to post Share on other sites More sharing options...
Economy 52,840 Posted April 10, 2020 Author Share Posted April 10, 2020 28 minutes ago, Maleficent said: Nah I'd just rather watch the world go to sh*t on the Malibu beaches than in Rainy Vancouver Omg I know what that's like. In fact I lived in a more extreme rainny climate Link to post Share on other sites More sharing options...
Chromatic Lover 868 Posted April 10, 2020 Share Posted April 10, 2020 33 minutes ago, Maleficent said: Nah I'd just rather watch the world go to sh*t on the Malibu beaches than in Rainy Vancouver You remind of this: Link to post Share on other sites More sharing options...
Blastertoyo 22,734 Posted April 10, 2020 Share Posted April 10, 2020 1 hour ago, Maleficent said: Nah I'd just rather watch the world go to sh*t on the Malibu beaches than in Rainy Vancouver If this ain’t a mood I’m in Vancouver too please enlighten me to death Link to post Share on other sites More sharing options...
Maleficent 6 Posted April 10, 2020 Share Posted April 10, 2020 1 hour ago, Blastertoyo said: If this ain’t a mood I’m in Vancouver too plus I'm on the North Shore, even more rain here than GTV... Link to post Share on other sites More sharing options...
Blastertoyo 22,734 Posted April 10, 2020 Share Posted April 10, 2020 3 hours ago, Maleficent said: plus I'm on the North Shore, even more rain here than GTV... Rain On Me.mp3 please enlighten me to death Link to post Share on other sites More sharing options...
littlepotter 76,610 Posted April 10, 2020 Share Posted April 10, 2020 11 hours ago, Economy said: @JustinTrudeau @Teal Ambition @juicyjuicy @OBEY @littlepotter This is insane. I never thought I'd see Canada run a deficit of almost 10% of GDP I guess you missed my reply in the other thread, but again no I'm not Canadian though I wish I were In any case it's really so surreal to see how much **** has hit the fan because of one little bat chaeri pls Link to post Share on other sites More sharing options...
Economy 52,840 Posted April 10, 2020 Author Share Posted April 10, 2020 4 hours ago, littlepotter said: I guess you missed my reply in the other thread, but again no I'm not Canadian though I wish I were In any case it's really so surreal to see how much **** has hit the fan because of one little bat Ah ok sorry. One of ur replies made me think u were Tell me something what about Canada is so appealing to progressive Americans? I only ask cuz realistically Canada is only extremely progressive when it comes to human rights and anti discrimination laws. That's maybe where we have a history of being among the first in the world to always accept new social progressive thinking But in terms of economy, education and even healthcare there are many European Countries that are more progressive than Canada If i were to compare our tax rates with American tax rates (especially on the rich and Corporations) and how many segments of our healthcare are actually still privatized and not part of the Universal Healthcare system u might be surprised The way Americans describe Canada's system... I think u guys have an exagerated perspective of how progressive our system actually is. Were actually closer to US Capitalism than European Centre-Left economics in many major things tbh Link to post Share on other sites More sharing options...
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