babble home - news for the rest of us
today's active topics

Post New Topic  Post A Reply
FAQ | Forum Home
  next oldest topic   next newest topic
» babble   » rabble content   » rabble news features   » Two different worlds: Martin's budget

Email this thread to someone!    
Author Topic: Two different worlds: Martin's budget
Babbler # 4090

posted 24 March 2004 01:38 PM      Profile for Sharon     Send New Private Message      Edit/Delete Post  Reply With Quote 
Never is the divide in Canadian society so wide as it is on budget day. When the bankers and the business community express smug satisfaction, the rest of us better take cover. When the Conservatives cry that there aren't enough tax cuts while health, education, housing and municipal needs go wanting, the differences between “them” and “us” become very clear. Here are some of the views that won't get as much mainstream play as some others do.

Full story

From: Halifax, Nova Scotia | Registered: May 2003  |  IP: Logged
Babbler # 5271

posted 24 March 2004 04:15 PM      Profile for fjh        Edit/Delete Post  Reply With Quote 
"The federal budget increases the student loan maximum to $11,900 per year, an increase of more than $2,500 per year and more than $10,000 over the course of a four year degree. Average student debt upon graduation is currently $25,000 and could increase to $35,000 with the new loan limits."

It seems some interesting and inflamatory math was at work here. If the average student debt upon graduation was the sum of the maximum student loan over four years, then it might makes sense that raising the maximum student loan 'could' increase the average student debt but the same amount. Unfortunately, that is not the case. The average student debt is 66% of the maximum student debt. It is much more reasonable to say that the average student loan could increase by $6600. This assumes increases in the maximum student loan are on average porportional to increases in tuition.

The fact of the matter is that 1/3 of federal taxes go to paying off the interest on the national debt. The faster we pay down the principal, the more money there will be for everyone.

So I say, blame Trudeau. If it were not for his fiscal irresponsibility, we would have 50% more federal monies to toss around. Likewise, blame the aging population for the breakdown of Medicare. The problem isnt so much that Medicare's resources deminished, but more so that demand increased.

From: Vancouver, B.C. | Registered: Mar 2004  |  IP: Logged
Stephen Gordon
Babbler # 4600

posted 24 March 2004 04:27 PM      Profile for Stephen Gordon        Edit/Delete Post  Reply With Quote 
I seem to recall that the $25,000 number - or somthing in that range - was the average debt among those who had debts. Many have no debts at all, so the 'average debt' is probably quite a bit lower.
From: . | Registered: Oct 2003  |  IP: Logged
Babbler # 3052

posted 24 March 2004 04:50 PM      Profile for Albireo     Send New Private Message      Edit/Delete Post  Reply With Quote 
FYI: this piece is (at least as of now) on the main news page.

[ 24 March 2004: Message edited by: albireo ]

From: --> . <-- | Registered: Sep 2002  |  IP: Logged

All times are Pacific Time  

Post New Topic  Post A Reply Close Topic    Move Topic    Delete Topic next oldest topic   next newest topic
Hop To:

Contact Us | | Policy Statement

Copyright 2001-2008