John,
Gigantic deficits, as far as the eye can see!
That’s what we can expect from Mark Carney’s recent announcement that Canada will follow other NATO countries and raise military spending to 3.5% of GDP in the coming ten years.
Add to that another 1.5% on defence-related infrastructure.
That’s an enormous increase – up from only 1.3% of GDP last year, almost four times more!
In a report published this week, the C.D. Howe Institute warned that this massive increase in military spending will cost an additional $72 billion every year.
That’s about what Ottawa spends on the Old Age Security and Guaranteed Income Supplement programs for seniors.
The Institute calculated that it will fuel huge budget deficits in the coming years.
Because of course, don’t expect the Liberal government to come up with substantial savings to pay for all this. They will just borrow the money and add it to the debt!
This is so irresponsible!
The main reason NATO has agreed to this increase is to continue to fund the war in Ukraine and to prepare for war with Russia.
As I have been repeating for three years, the war in Ukraine is a pointless war that should not be happening, that could be ended quickly, and in which Canada should never have been involved.
John, we shouldn’t bankrupt ourselves even more in order to side with the warmongers in Europe.
Our national debt doubled during the covid years.
Our population is aging and needs more health care, while there are fewer young workers paying taxes.
Our infrastructures are crumbling.
And we already pay half of our salaries in various taxes.
We can’t afford getting involved in foreign wars that don’t concern us.
And yet, both major parties, the Liberals and Conservatives, agree with this unsustainable military spending increase.
John, what about investing $25 today in OUR security and prosperity with a donation to the only party proposing a CANADA FIRST foreign and defence policy?
Thank you for supporting the only sensible alternative,
-Max