Abuse of funds has led to Canada’s economic decline

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To the Editor:

On Sept. 25, two economists at the University of Alberta announced that Canada’s economy has been on the decline for the past two decades. They did not give a reason why except for the government having something to do with it.

I would say that the reasons are obvious: the abuse and mismanagement of public funds in all three government levels; out-of-control executive salaries and benefits, and costly non-productive long distance trips; and the digital compounding interest rate used by our banks, landlords, credit card companies and utility companies, all in the rate increases. All three of the above have been undermining our economy for years, and it may be coming to a brink.

Our monetary system is at risk of collapse. It is my opinion that compounding interest rates are a blatant act of theft. Of course, you couldn’t tell that to Prime Minister Stephen Harper, who now has got Canada in a $60 billion deficit, nor Premier Christy Clark, who has our province in a $6.1 billion deficit. How does a population of six million people, with only 3.5 million employed, pay down a compounding $6.1 billion? Even with the added business, it seems doubtful. The passing of the government’s budget is a joke. What’s to prevent the inevitable from happening when our government leaders are in denial of their financial problems?

Michael Bunn

Creston