Can everyone rely on the government
for their pay cheque, rent etc.?
Currently nine million Canadians and 500 thousand businesses
need a cheque from government just to exist
That is on top of the army of people already working for the government in one form or another. Before this recent crisis over 22% of salaried people in Canada were being paid directly from government in one form or another.
There is an old saying that governments have no money of their own. Given the state of the Canadian economy and the millions of people unemployed combined with falling revenues in the resource sector one has to wonder how long the 'government' can afford to pay everyone's bills.
This government has consistently run annual deficits in the order of $20 billion. The covid-crisis bailout packages combined with falling revenues is expected to add another $252 billion to the deficit this year alone.
That $253 Billion puts an enormous burden on Canadian taxpayers who somehow have to now pay the interest on all that borrowed debt.
In addition to trying to keep Canadian households solvent this government is pledging substantial funding to help the 'world' solve the covid-crisis.