With Federal deficits now forecasted (well a Liberal forecast, based in Liberal math) out to 2050 and with such bloated payouts within the province of Ontario (a proxy for other provinces), why are Canadians not in a panic over future benefits, oh say, CPP!
(The following "Sunshine list", those making over $100,000 working for the Provincial government was released. Some select positions as outlined. I do not know how the IPO of Ontario Hydro affects some of these positions being reported now, but I will have to investigate)
Sunshine List: http://news.nationalpost.com/news/canada/ontarios-sunshine-list-2017-all-the-ways-you-never-thought-you-could-make-100000-a-year
Although interest rates are low today, the Liberals at both Provincial and Federal levels are spending like proverbial drunken sailors (and on the flip side were receiving payments at a fire hose rate for that little issue called "cash for access", remember that one? As Liberals are also good at using media techniques of distraction which is their proverbial " broom" to sleep things under the rug).
Enough of the clichés, what does this all mean? Sadly, as the Liberals have a high chance of regaining power in the next Provincial (Ontario cannot help themselves, despite record low rates of approval for "the Kathleen", Ontario voters only see Liberal red and will likely vote this gaffe induced party in again) and Federal elections (no clear leader for ANY of the opposition parties), Canadians had better beef up on their personal finance skills and mind their savings, RRSPs, TFSAs, company pensions, real estate holdings and how they can minimize their tax situation over the coming decades.
I'm 46 now, deficits are " forecasted" to be eliminated when I'm 80, I'm not depending on a CPP and review my RRSP every day.
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