Thoughts on Canadian budget? $354 B deficit in FY-20, additional $154 B deficit in FY-21, additional $60 B deficit in FY-22!! High time to stop partying using debts?

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Wannabe consultant here.
I saw you posted in consulting bowl and I’d like to help.
Have you considered holding Quebec for hostage and ask France to pay for it?

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It's not 'holding for hostage'. Should be 'holding hostage'. Plzfix

Bro have you seen the US debt??

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Have you seen US GDP? Always check debt to GDP ratio

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Debts that drive growth beyond interest growth should generally be fine. The US has shown that general beliefs of GDP to debt and resulting inflation and economic impact were incorrect. Googling will show you many studies that if US congress had allowed the proposed stimulus to pass after the housing crash, the recovery would’ve been even better - trimming stimulus stifled it (Rs “fiscal conservatism” backfired). Same is maybe happening now (without commenting on direct payment effectiveness).

We haven’t found the limit and it’s unclear if there is one without a substantial productivity(?) crash. But that’s also not a reason to not to use taxes to raise revenues when times are good.

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America checking in...

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Debt that helps people is okay

I just assumed a lot of the housing problem was a balance of payments issue. The exporter nations are flush with the importer’s currency. They don’t want to buy any of the importer’s services with that money so they just buy up real estate with it instead.

The concept of debt being a burden doesn't really apply to national debt the same way it does to your credit card debt. The headline figures you listed mean nothing on their own - it's more about how that leverage is being used to achieve growth

Don’t keep your money in cash. Problem solved.

If/when global interest rates rise back to historical norms, lots of countries will be boned. The US makes Canada look like a spendthrift miser in that regard, which hasn't come back to bite either country in the ass so far, but there will be hell to pay if interest rates go back to anything close to what they were pre-2008.

It's not if but when

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