Wednesday, November 11, 2009

Parliamentary Budget Officer to Prepare Report on the Impact of an Aging Population

Back in January when the budget first came out, I remember being on a discussion board, where I raised concerns about more tax cuts. I questioned whether or not this government had taken into account the fact that we were an aging population and that the Baby Boomers would soon be tapping into the services they once propped up. Why were we further reducing our revenue?

I was shouted down and my concerns dismissed. However, I was pleased to learn today that our parliamentary budget officer will be preparing a report on that very subject, because it needs to be addressed and taken seriously.

We can't simply start cutting services for those who have earned the right to those services, but we need to be realistic. Our economy is stagnating.

Canadian economic growth potential half of historic average: TD Bank

OTTAWA - The Canadian economy is headed for a decade of stagnant growth that will test the budgets of governments and ordinary Canadians, says a new TD Bank report.

The bank (TSX:TD) says a combination of post-recession adjustments, the aging population and low productivity will limit Canada's potential growth to about two per cent over the next 10 years. That is two-thirds the level of growth experienced the previous two decades, the report says ....

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