Originally posted by Vote Quimby
No. The government does not need to borrow $200billion.
The books are balanced, the debt is being paid off. The government should continue this trend. Maybe even create a rainy day fund.
Originally posted by OTIS
I like the prudent option, buuuut if we had to spend 200 billion, I'd say begin a public space program that's not just a guise to funnel money to the development of technologies for private interests, and spy technology for the military industrial complex. We can also use it as a good excuse to prevent a US/Norad controlled missile defense system from being installed on our soil.
Originally posted by Ditto Much
200 billion I would have expected you to pick something more practical, like a massive public train system.
I understand that 200 billion seems like alott of debt, but considering we blew that in the first 4 years of Molroney its not that bad. Hell Rae burnt through almost 50 billion in ontario alone.
But with 200 billion you could half the class sizes accross Canada for decades. You could do public funded water fronts withoiut developers and make them actual public spaces. You could pretty much equip all hospitals straight across the board.
If I was looking to be practical, I wouldn't borrow 200 billion in the first place. This is frivolous, to do something significant right? I say then that significance would be to change the paradigm of space exploration from one that is primarily a guise for military, intelligence, private uses, and secondarily for scientific exploration of space, to one where we have a program that IS used only for what it's intended to be -explore space, scientific research, developing civilian transportation systems, initiating extra-terrestrial living ecosystems. And becomes world renown for that.Originally posted by Ditto Much
200 billion I would have expected you to pick something more practical, like a massive public train system
Paying off large amounts of municipal debt is not practical. Lenders and bondholders will not typically allow their debts to be retired all in one immediate payment. These credit arrangements have specific provisions with respect to when and how the principal amounts can be repaid.Originally posted by Ditto Much
I'll give you an easy example, I believe you can pay off almost half of the accumulated municiple debts and consolodate it in a single federal loan. With the reduced debt burden cities and towns would have more funds availible for various social programs.
Originally posted by whatwaytoturn
Yeah.. spend it in energy.. create an off-the-grid renewable energy infastructure.
Originally posted by AdRiaN
Paying off large amounts of municipal debt is not practical. Lenders and bondholders will not typically allow their debts to be retired all in one immediate payment. These credit arrangements have specific provisions with respect to when and how the principal amounts can be repaid.
In addition, municipalities can already apply for low-cost loans from the Ontario Municipal Economic Infrastructure Financing Authority (OMEIFA) created by the Eves government in order to allow municipalities to finance projects such as sewage treatment, roads & bridges, waste management, and public transit.
Whenever the government spends more than it collects in revenue, it needs to borrow money to cover the shortfall (i.e., deficit). The borrowed money is our accumulated "debt". The debt grows in each year the government runs a deficit, and shrinks in each year the government runs a surplus.Originally posted by judge wopner
i read about how our fed govt has a surplus, and to pay off debt.. how can we have both a surplus and a debt.
then the province had balanced books but then it didnt with a new govt... how so...