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Articles on Debt

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Bank of Canada Gov. Tiff Macklem speaks during a news conference at the Bank of Canada on Sept. 10, 2020 in Ottawa. THE CANADIAN PRESS/Adrian Wyld

The throne speech: Fiscal prudes are fretting about the wrong issues

While those on the left, right and middle worry about the federal deficit, the real world that we live in is in trouble. The fiscal prudes are fretting about the wrong issues.
Prime Minister Justin Trudeau looks on as Finance Minister Chrystia Freeland responds to a question during a news conference on Parliament Hill in August 2020. THE CANADIAN PRESS/Adrian Wyld

The throne speech must blaze a bold new path — including imposing a wealth tax

The speech from the throne is just around the corner. Will the Liberal government make broad and much-needed economic and social change amid the pandemic, or will it give in to the wealthy again?
South Africa’s finance minister Tito Mboweni says the IMF loan will limit the country’s economic vulnerabilities which have been exacerbated by COVID-19. Gallo Images/Brenton Geach

The IMF’s $4bn loan for South Africa: the pros, cons and potential pitfalls

The IMF loan does not impose any conditions over and above what is in South African law on how the funds can be used; it only seems to expect the country to implement policies already announced.
Haitian President Jean-Pierre Boyer receiving Charles X’s decree recognizing Haitian independence on July 11, 1825. Bibliotheque Nationale de France

When France extorted Haiti – the greatest heist in history

After enduring decades of exploitation at the hands of the French, Haiti somehow ended up paying reparations – to the tune of nearly $30 billion in today's money.
People wearing protective masks form lines to receive free food from a food pantry run by the Council of Peoples Organization on May 8, 2020 in the Midwood neighborhood of Brooklyn, New York. Andrew Lichtenstein/Corbis via Getty Images

Coronavirus-related debt will live in digital profiles for years – hurting Americans’ ability to get jobs, apartments and credit

For economically strapped Americans, the financial fallout from the epidemic may be permanently embedded in their digital profiles, making it harder for them to regain their economic footing.
All three levels of government must prioritize reducing Canada’s level of indebtedness. (Pixabay)

Coronavirus: Can Canada fiscally handle ‘black swan’ events?

There are two key questions regarding Canada's fiscal sustainability during the pandemic. Can we afford to provide short-term financial support to Canadians? And how quickly will our economy recover?
Sens. Elizabeth Warren and Kamala Harris are among the 2020 presidential hopefuls in favor of reparations. AP Photo/David J. Phillip

Reparations are essential to eliminating the substantial wealth gap between black and white Americans

Several presidential hopefuls have offered proposals to close the racial wealth gap, from baby bonds to reparations. A simulation suggests policies short of direct aid to blacks won't do the trick.
Every state bears the burden of the opioid crisis. Digital Deliverance/Shutterstock.com

Opioid epidemic may have cost states at least $130 billion in treatment and related expenses – and that’s just the tip of the iceberg

State governments are leading the charge against opioid makers over their role in the epidemic. A team of researchers at Penn State examined just how much the crisis has cost them.

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