Well, many Americans may not like to hear this, but tax cuts - for the wealthy - already enacted are partly to blame for the massive debt increase.
So many people complain about taxation levels in Canada, but it's only average amongst the OECD. And, our federal debt is about a quarter that of the US, on a per capita basis. CPP (our version of SS) is fully funded for the next 75 years.
I am wondering how our government is going to pay for the promised increase in defense expenditures, from under 2% of GDP to 5%. We'll be facing higher taxes, or higher debt. There is no free ride.
