Guest Column: We Just Keep Falling Behind…

By on September 13, 2011

By Mel Hurtig. Next time you hear Stephen Harper boast about what a great job he and his friends have done managing the Canadian economy, consider this: Canada’s government debt (84.2%) as a percentage of GDP in 2010 was far higher than the OECD average of 74.2%, and our gross national savings as a percentage of GDP put us down in 80th place! 80th!

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As to those right-wing never-ending promoters of lower business taxes, note that yet once again as Harper at al. have chopped business taxes, Canada’s business competitiveness has continued to fall, this time from 10th place last year down to 12th place. So much for the Jack Mintzes and National Post columnists and editorial writers.

Sam Pizzigate, quoting Credit Suisse, points out that median wealth of a typical Canadian family

was $94,700 in 2010, about double the $47,771 U.S. median net worth.

Meanwhile, half the people on earth who are 20 and older own less than 2 percent of global wealth while the world’s richest one percent of adults own 43% of the world’s wealth!!!

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Paul Krugman, who is no longer an Obama fan, says that “At the start of Obama’s administration he had a far too weak economic plan and since then has compounded the original sin by pretending everything was on track while “adopting the rhetoric of his enemies.” What a sad failure. What a terrible disappointment. It’s as if the man simply doesn’t understand he’s very much in danger of being a failed one-term president.

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In the last mid-term U.S. elections, increased spending, mostly by Republicans, amounted to a huge $4 billion. Thanks to the totally stupid recent decisions by the U.S. Supreme Court, there is zero accountability re the sources of all the money. Some democracy!!!

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The CCPA, in a recent paper, calculates that with a universal public Pharmacare plan we could SAVE a huge$10.7 billion a year. The current system is “inequitable, inefficient and very costly.”

Mel Hurtig

Mel Hurtig is a Canadian publisher, author, political activist and former political candidate. He established Hurtig Publishers. In 1980, he started the $12 million dollar, comprehensive The Canadian Encyclopedia, published in 1985. In September 1990, Hurtig published the five-volume Junior Encyclopedia of Canada, the first encyclopedia for young Canadians.

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