Even though the age pattern in spending is presently out-of-whack, the government is showing progress in delivering concrete policies that will make lives better for young people
Even though the age pattern in spending is presently out-of-whack, the government is showing progress in delivering concrete policies that will make lives better for young people
This is the best summary I could come up with:
This trend accelerated in the new millennium when average home prices rose 60 per cent during prime minister Stephen Harper’s nine years in office (2006-2015), according to Canadian Real Estate data.
We’re starting out behind, because provincial and federal governments did not set aside enough of the boomers’ tax dollars to fully cover the cost of publicly funded income and medical benefits as that generation retires.
At $29-billion, interest payments on unpaid bills left to younger Canadians and future generations is the only part of the federal budget that rivals spending increases on boomers’ retirement.
So the near doubling of federal OAS spending over the first eight years of Mr. Trudeau’s term would have occurred regardless, and continuing increases were already baked into the fiscal framework – although not quite at the pace announced in the latest budget.
There are few realistic options to eliminate structural deficits without putting younger generations in even more jeopardy if we don’t require some additional taxation from affluent folks my age and older (I’ll turn 50 this summer).
But it is fair to say these initial steps set in motion a grand national project to renew our commitment to preserve a healthy childhood, home, retirement and planet so we all leave a legacy of which we can all be proud.
The original article contains 2,269 words, the summary contains 216 words. Saved 90%. I’m a bot and I’m open source!