Should Canada discuss the US debt with its neighbour?

[Machjo]

Considering the exploding US federal debt and its potential consequences for its neighbours, should the Canadian government not be bringint this issue up with its neighbour?

Of course I realise the risk of Canada appearing meddlesome in US internal affairs if it doesn't approach the issue with sensitivity. But I believe that talks behind closed doors (assuming this is not happening already) would be appropriate as a plan A. If that should fail to convince the US to curtail its spending, increase taxes, or take other counter-debt measures, then maybe going to the World Bank to discuss some kind of international agreement for nations to try to bring their national debts to within a percentage of their GDP (the US' is currently about 90% of tis GDP) might be an appropriate plan B. Failing that, then maybe taking up the matter at the UN General Assembly, raising the concern of nations having debt burdens beyond a percentage of their GDP affecting their neighbours too. That might be an appropriate plan C. And failing that, then Canada might need to consider measures to brace for a collapse of the US dollar. This would mean taking steps now to pay off our provincial and federal debts, keep inflation down, and keep interest rates down. The only way I can see this happening would be revenue increases, spending reductions, or a combination fo the two.

But if the US dollar suddenly cracks, we'd better hope that the Canadian economy be prepared to withstand the impact of the shockwave this would send around the world.

Another way to look at it is this:

What's the point of a military alliance without a commensurate economic alliance? What's the point of the US helping us militarily while hurting itself and us economically? Shouldn't any kind of alliance be a comprehensive alliance and not just a piecemeal alliance focussing on only a few narrow threats?

[bush_cheney2004]

Considering the exploding US federal debt and its potential consequences for its neighbours, should the Canadian government not be bringint this issue up with its neighbour?

Consequences for "neighbours" are way down on the list of concerns.....and that includes Canada.

Of course I realise the risk of Canada appearing meddlesome in US internal affairs if it doesn't approach the issue with sensitivity. But I believe that talks behind closed doors (assuming this is not happening already) would be appropriate as a plan A. If that should fail to convince the US to curtail its spending, increase taxes, or take other counter-debt measures, then maybe going to the World Bank to discuss some kind of international agreement for nations to try to bring their national debts to within a percentage of their GDP (the US' is currently about 90% of tis GDP) might be an appropriate plan B.

Did Canada do this for France or Japan? I think a better approach would be for Canada to have a Plan B.

Failing that, then maybe taking up the matter at the UN General Assembly, raising the concern of nations having debt burdens beyond a percentage of their GDP affecting their neighbours too. That might be an appropriate plan C. And failing that, then Canada might need to consider measures to brace for a collapse of the US dollar. This would mean taking steps now to pay off our provincial and federal debts, keep inflation down, and keep interest rates down. The only way I can see this happening would be revenue increases, spending reductions, or a combination fo the two.

Correct...concentrate on the things you can do yourself.

But if the US dollar suddenly cracks, we'd better hope that the Canadian economy be prepared to withstand the impact of the shockwave this would send around the world.

Yep....could happen any day now.

Another way to look at it is this:

What's the point of a military alliance without a commensurate economic alliance? What's the point of the US helping us militarily while hurting itself and us economically? Shouldn't any kind of alliance be a comprehensive alliance and not just a piecemeal alliance focussing on only a few narrow threats?

Maybe, but just which nation do you think has benefitted most from the economic "alliance" and access to the largest market in the world? Hint: Its the one with 80% of exports going to the USA.

Edited August 22, 2009 by bush_cheney2004

[Guest American Woman]

But I believe that talks behind closed doors (assuming this is not happening already) would be appropriate as a plan A.

Yeah, I'm sure that's happening already. I'm sure taxes are being raised as we speak, at the suggestion of Canada.

Why you think any other country or world organization would have the right to tell us what to do is rather incredible to my way of thinking. Even if they did, who would force us to do it? We'll handle our affairs ourselves, without outside intervention, just as we have since the Revolutionary War.

Seems to me you need a Plan D, because if you have a problem because of our actions, you have to fix that within your country, not by trying to "fix" ours.

[jdobbin]

Yeah, I'm sure that's happening already. I'm sure taxes are being raised as we speak, at the suggestion of Canada.

I can sponsor you in if things get to hairy down there. We might see a few tax refugees. heh

[Guest TrueMetis]

Why you think any other country or world organization would have the right to tell us what to do is rather incredible to my way of thinking. Even if they did, who would force us to do it? We'll handle our affairs ourselves, without outside intervention, just as we have since the Revolutionary War.

Coming from an American That's a joke.

[Guest American Woman]

Coming from an American That's a joke.

Your apparent belief that all Americans think alike is a joke.

[Guest American Woman]

I can sponsor you in if things get to hairy down there. We might see a few tax refugees. heh

[Shady]

Should Canada discuss the US debt with its neighbour?

No.