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meaning that they are taking in A LOT more money that they were 5 years ago.
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1> Lower interest rates made the cost of debt servicing lower.
2> Economic growth has been pretty good over the last few years. Canada has averaged 3.5% since 1995.
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Originally Posted by wolfpack0102:
Personally I would cut all civil servants wages by 5 per cent or next time their contract is up offer them a 5 per cent cut or get new workers. Why should a friggin secretary get 75000 a year when in the normal world they might get 30 000.
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Did you make up that 75 000 salary?
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you know how our governemnt got in debt in the first place? too many free trips for the politicans and far too outrageous wages.
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Well, actually, they got into debt by spending more money than they got in taxes.
Last I checked, the 'free trips for politicians' category wasn't a huge part of any year's budget. It is part of the propoganda gristmill of various special interests, but more of a symbolic problem than a real one.
In any case, I'd munch up a bunch of debt. We have a huge trade surplus, our economy doesn't need a huge stimulus, and interest rates are low and rising. A good time to clean up your debt. Because if not now, when? If not us, who?