Comment 75030

By A Smith (anonymous) | Posted March 05, 2012 at 15:13:13 in reply to Comment 75029

Perhaps the feds could pay for it, either directly, or through tax cuts to persons, which could then be transferred to the city.

Current federal debt charges are only 1.80% of GDP, a level not seen since 1967.

In fact, from 1980-2002, federal debt charges never fell below 3% of GDP. From 1982-2000, they never fell below 4% of GDP. From 1985-96, they remained above 5% of GDP.

Our current federal debt is $580 billion. If we doubled it, that would amount to $16,714 for each Canadian. For a city like Hamilton, that amounts to an extra $8.69 billion.

Even after doubling the debt, debt charges would still be less than 4% of GDP, less than we paid in 2000.

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