Borrowing from Peter to pay Paul

I’m certainly no expert when it comes to government finances, then again nor are the politicians that spend our tax dollars. However, it’s not rocket science to figure out, when you borrow money you will have to pay interest. With that in mind let’s talk about the KM pipe line purchase. It started out at 4.5 Billion plus 7.5 billion to complete. Next the completion phase was raised to 9.5 billion. By my reckoning that is a total of approximately 14 billion dollars. What we are not being told is the actual cost. Trudeau and his government are borrowing this 14 billion dollars to build this pipe line. Nevertheless, the total cost of borrowing remains a mystery ! I doubt this will be a short term low interest loan so I can only imagine the rate of interest. Trudeau tell us this is good for Canada??? My question is this, how good will it be for future generations of Canadians long after Trudeau is gone? They will be left paying for this pipe line folly long after the world has stopped using fossil fuels?

God Bless and keep reading

About irishroverpei

Author of "Lily & Me", "The Royal Navy & Me" and Chapter XXl Armageddon. Writer, blogger and RN Submariner, antique automobile enthusiast.
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