We’ve handed millennials a debt approaching $700 billion, not including provincial shortfalls, for stuff they didn’t order
The business section of a well-known Canadian newspaper warned the other day that any forecasts contained in the federal budget should be treated with extreme caution, given the fact economists have a lengthy record of getting their predictions seriously wrong.
. Whether it was the same set of deeply fallible economists surveyed for the first article wasn’t clear. It’s an important moment, for a variety of reasons. Prime Minister Justin Trudeau owes his current position to the fact large numbers of millennials turned out on his behalf in 2015. Holding their support, and adding to it — not to mention convincing the younger ones to get out of bed and bother voting — will have an enormous impact on the outcome of the federal vote in October.
There’s also an expansion of the RRSP option for home buyers, a break on student loans, talk, yet again, of pharmacare, and money for retraining people who find their skills already out of date. The details are foggy, the promises sound familiar, no one in Ottawa can even begin to explain how the mortgage deal will work, and the RRSP break only kicks in if you’ve already saved $35,000 towards retirement — yeah, fat chance.
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