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THE CANADIAN PRESS/Fred Chartrand

Liberals' 2016 Budget Opts For Big Spending Over Restraint

We've seen this story before in the mid-1990s, when out-of-control deficits and an impending sovereign debt crisis led to painful spending cuts and tax increases. The government is wrong to make the return to budget balance conditional on strong economic growth. Population aging is already taking its toll on long-term projections, and too many unforeseen events can derail the fiscal path. Only tight fiscal discipline can balance the budget within a reasonable timeframe, protecting Canadians' standards of living from future large tax increases and cuts to government services.
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When it Comes to Finances, Gen Y Should Be Called 'Gen Screwed'

Nine-million baby boomers will retire from the workforce over the next two decades, and when they do, they will start to consume the most expensive forms of government programs. This is great news for seniors, but terrible news for our public finances and for young Canadians forced to foot the bill. Generation Y has been dubbed the "Millennial" generation because we came of age at the turn of the new millennium. A more fitting name for this cohort is Generation Screwed.
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Every Taxpaying Canadian Has a $243,000 Bill, Courtesy of Our Government

Put simply, the aging of Canada's population has resulted in large and growing unfunded liabilities. The funding shortfall is estimated at $792.3 billion for the CPP, $494.4 billion for OAS, and $894.7 billion for medicare. Together the unfunded liabilities in Canada's public pensions and health care programs total $2.2 trillion or $134,841 for each income taxpayer. These unfunded program obligations make up more than half of total government liabilities. And their sheer size calls into question the structure of taxing current workers to provide benefits for retirees. Ultimately, to maintain current levels of spending in the future, taxes will have to increase or benefits for other programs will have to be cut -- or both.
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How Tony Clement Is Trying to Ruin My Retirement

Recently, Treasury Board President Tony Clement reportedly floated a trial balloon which would see federal government retirees' annual health insurance premiums double. For my family, that would mean an extra $500 expense -- an amount which will add up to thousands of dollars over my lifetime. I deliberately chose to leave the private sector and join the government based on what was on offer.

What's Buried in the Tories' Omnibus Bill

The Conservative government recently introduced C-45, an omnibus bill containing provisions to create a two-tier public sector workforce in this country. Buried in the bill is a provision to raise the age of retirement for all public employees hired after January 1, 2013