Taxpayers not a limitless resource

Incessant deficit financing no longer has a positive impact on the economy whether it is called infrastructure spending or something else

The first half-dozen pages or so of the Nov. 11 edition deal either directly or indirectly with government policies and spending, urging the powers-that-be to “do something” about seniors housing, affordable housing, food taking up as much as half a household budget, and so on.

Beware the long-suffering taxpayer who is less and less inclined to trust what the media is pushing. It always seems remarkably one sided, as in demanding programs/benefits without considering costs.

If the idea of rising taxes doesn’t spark a revolt, the paralyzing economic effects of too much debt will.  Greece and Venezuela are prime examples. The angry Brexit vote is another.  And now there’s President-Elect Donald Trump who is seen as an indication that American voters have had enough of wage stagnation, rising taxation, onerous regulations, a non-affordable health care scheme, and of course the rapidly rising national debt.

Incessant deficit financing no longer has a positive impact on the economy whether it is called infrastructure spending or something else.  The weight of rising overhead costs and debt loads, even in this low-interest-rate era, has turned the “multiplier effect” on our North America economy negative.

Ken Lane

Saanich

 

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