Type17
Well-known member
My house and car are investments - buying a house 25 years ago saves me money today, and I need my car for work -- also makes money. I have credit cards, I've never spent next years salary today -- especially on wants not needs.
Finally, I can't double my debt load every 10 years.
On your infrastructure spend... yes of course there is spending. We're spending about 9% of revenue on Infrastructure -- remember that's a glom of new and maintain, not an infrastructure spending spree. By the way, when I say glom, Liberals roll up deferred maintenance and repairs, cost of rehabbing neglected infrastructure into their 'Infrastructure' numbers. Those are funds stolen from prior years to expand social spending... but that an argument for another day.
News to me that infrastructure isn't an investment, and in fact that top driver of economic development. News to me that historic large scale investments in capital projects aren't done with debt in literally every OECD country. It's only obvious that deferred maintenance and repairs need capital spend so of course that spend would be counted. Is a pothole not worth fixing because it wasn't fixed the year before? What kind of stupid argument is that?
It's also beyond obvious that you've leveraged yourself with the house on a want, not a need. A need for housing could have been filled with a rented apartment and it would've been within your monthly budget. You leveraged up on debt so you could buy a house, not because it was a need, but because it was a want and it coincided with an investment opportunity. By your logic and that of a couple of other posters in here, you should've lived in rented apartments until you had the amount to buy your house all out, so you wouldn't find yourself in 500k worth of debt on a 50k income (assumed figures but w/e...). That's not to say it was a bad investment, but the "debt is bad but my house is an need/investment so it's fine" argument doesn't hold water; the overwhelming majority of the federal provincial budgets meets that criteria.
The implication that the provincial government has been spending on wants rather than under pressure from various economic/political/social factors is asinine.
Your post should have just said "Yes, Type17, we are indeed in a period of historic infrastructure spend as indicated at the top of the first link you provided, in size 32 font. I indeed did not know this and was instead parroting conservative talking points without having done the googling myself."
But hey, I know. It takes a big man to admit they were wrong, it's easier to move the goal posts.
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