Comment 75801

By Quisp (anonymous) | Posted April 09, 2012 at 13:35:33

How might austerity programs be affected by the various trade agreements and relationships with neighbouring countries, and their fiscal health? If, for example, 80% of Ontario's exports go to the US and the US is tapped out, and the province is already constricted by the cost of servicing massive foreign debt levels, might that not put a crimp in our fiscal strategies at the provincial and federal levels? How much tighter might our options become if credit ratings become an issue? I'm not trying to defend the philosophy that informs these budgets, but it does seem to me that we as a society have been living beyond our means for quite some time now. Nobody in power wants to raise taxes, and so service and sepnding cuts are the most likely outcome of that daydream scenario.

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