This commentary, written by Dalhousie University economics graduate student Ali Nadeem, asserts that the growing public debt in Nova Scotia is eroding the capacity for government to fund programs we consider essential. The province is undergoing a major demographic shift and a rise in service demand will follow.
In a growing economy with expected income increases, it is sometimes argued that there is less need to retire debt. Nova Scotia’s economy, however, is a slow growing economy. Citing examples of the economies of many countries in and outside of Europe, Nadeem suggests that Nova Scotia should further evaluate its public debt situation, or younger generations will carry the burden.
In The Real Costs of Public Debt, Nadeem writes that painful but necessary steps need to be taken to reduce Nova Scotia’s public debt immediately.
Click here to read the full commentary.
