July 18, 2017

The Biggest Political Issue Of Our Time

There is one issue in Newfoundland and Labrador more critical than any other.

It’s not potholes. It’s not taxation. And no, it’s not even the Muskrat Falls project.

Although people have legitimate concerns about each of those issues, the biggest political issue of our time is much broader in scope. In fact, it’s so big that it encompasses the above issues — and more.

It’s our overspending problem.

The Government of Newfoundland and Labrador simply can’t go on spending the way it is spending.

If I spent more money than I earned, I would be in financial trouble. I would probably have credit card debt or a line of credit. Depending on the institution loaning me money, I might have to pay moderate to high interest rates, which would worsen my problem for years to come.

Governments can get into similar situations. If they overspend, they go into debt and agree to pay interest (with the people’s tax dollars!) down the road.

The Government of Newfoundland and Labrador has a lot of debt. I mean, a lot.

We are burdening future generations with interest charges so big they are difficult to imagine. In fact, it’s hard to think that we’ll ever be able to pay off the debt. It could be that we’ll be paying interest forever.

There is no quick fix to overspending. Unbeknownst to the Liberal government, raising taxes is not the answer. We won’t find the answer with plain old cuts, either.

Overspending is a deep-set problem that requires systemic changes. We must find creative solutions to the overspending problem if we want to realize our future prosperity and make Newfoundland and Labrador a place that attracts young people.

If you agree that we need to think outside-the-box to tackle the overspending problem in Newfoundland and Labrador, sign up to show your support.