Is it debt or just printing more money?

How encouraging I find it that Finance Minister Jim Flaherty is projecting a budget of only a $2.9-billion deficit for this year and the government will easily post a surplus of $6.4 billion in 2015. Zounds! The man is a miracle worker of the first water.

How encouraging I find it that Finance Minister Jim Flaherty is projecting a budget of only a $2.9-billion deficit for this year and the government will easily post a surplus of $6.4 billion in 2015.

Zounds! The man is a miracle worker of the first water.

This is astounding considering the bungling bunch we have had over the last 50 years. When I look at the Canadian Debt Clock, it shows we have a national debt of something like $679,419,195,500. If we pay eight per cent interest on $680 billion, doesn’t that come out to $54 billion for this year? If we end up with a deficit of $2.9 billion, doesn’t that mean that we haven’t even paid the interest, so in actual fact every cent we pay in taxes does not go to pay down the debt but only goes to the money exchangers as interest?

When questioning people, not one can explain what the deficit is nor the amount of interest nor the national debt. Thank heaven for Flaherty because he must know what’s going on.

The simple fact of finance is that any country that prints its own money can never go in debt so where does the $679,419,195,500 come from?

At one time in Saskatchewan, there was a young Baptist minister by the name of Tommy Douglas who joined the Co-operative Commonwealth Federation of Saskatchewan. Douglas was probably the finest Canadian to come out of Western Canada! There are people at this time who still remember wheat of a grade 3 which sold for as low as 19 cents a bushel and cattle going to market and being sold for less than the freight bill.

Well, Douglas asked the Finance minister of Canada if the government of Canada would give Saskatchewan $5 million to alleviate the depression. This was about 1935!

The Finance minister replied to Douglas that the young man from Saskatchewan must think that money grows on gooseberry bushes.

In 1939, when the Liberals decided to go to war, the government created $1.2 billion toward the war effort. I believe that Douglas then stood in Parliament and said that the minister must have found that gooseberry bush.

So it seems the government may print debt-free money if it wishes.

Douglas was instrumental in the formation of the Canadian Wheat Board; Government Auto Insurance; Unemployment Insurance; crop insurance; formation of the Bank of Canada; the Canada pension plan; and family allowance. These represent the difference between a man who works for the people and one who works for …?

At this time when our province and our country are wallowing in debt while producing hundreds of times what we can consume, I think of H.L. Mencken, who said, “Elections are nothing but the futures market for stolen goods,” and Johann Von Goethe, who said, “The best slave is the man who doesn’t know he is a slave.”

From recent polls and conversation at coffee row, I would say Prime Minister Stephen Harper, if he might win the next election, will definitely be the leader of a minority party as our Eastern buddies will get more welfare from Liberal Leader Justin Trudeau.

Should Harper wish to be remembered fondly in the West, while he still has a majority government and if he works for the people, he should bring in the triple E Senate so the West will at long last have some equality. It’s now or never!

Dennis Combs

Olds

Just Posted

WATCH: Red Deer’s noxious weeds are a goat’s dietary delight

Piper Creek Community Garden gets chemical-free weed control

Get your guilty pleasures: Westerner Days food

Traditional sugary treats were served up by the plate, bowl and bucket… Continue reading

Centrefest brings feats of daring to Red Deer’s downtown

Fundraising was a tough slog, but it came together in the end

Count shows slight decrease in Red Deer’s homeless

In two years, the number of homeless in Red Deer has decreased… Continue reading

Redoing hip surgeries are costly, says new study

Redoing hip and knee replacements costs Canada’s health system $130 million a… Continue reading

WATCH: Cirque ZUMA ZUMA puts on a show at Westerner Days

ZUMA ZUMA performs three times a day during Westerner Days

Zuckerberg’s Holocaust comment puts Facebook on the spot

NEW YORK — Denying the Holocaust happened is probably OK on Facebook.… Continue reading

Brazilian police arrest ‘Dr. Bumbum’ after patient dies

RIO DE JANEIRO — Brazilian police have arrested celebrated plastic surgeon Denis… Continue reading

Canadian marijuana company Tilray has first US pot IPO

SEATTLE — A Canadian company is the first marijuana business to complete… Continue reading

Dolphins anthem punishment includes suspensions

Miami Dolphins players who protest on the field during the national anthem… Continue reading

Soy “milk” makers may need to find alternative description

NEW YORK — Soy and almond drinks that bill themselves as “milk”… Continue reading

Calgary woman convicted in son’s strep death granted day parole

CALGARY — A woman whose son died after she failed to take… Continue reading

Greenpeace members arrested for climbing Olympic Stadium tower in Montreal

MONTREAL — Several Greenpeace members climbed the outside of the Olympic Stadium… Continue reading

B.C.’s Site C dam project behind schedule, plagued by problems: expert

British Columbia’s mammoth Site C hydro-electric project is seriously behind schedule, plagued… Continue reading

Most Read


Five-day delivery plus unlimited digital access for $185 for 260 issues (must live in delivery area to qualify) Unlimited Digital Access 99 cents for the first four weeks and then only $15 per month Five-day delivery plus unlimited digital access for $15 a month