·S1 E197

Why Are Young People Paying for Wealthy Seniors?

August 12

17 mins

Episode Description

Canada’s growing debt isn’t just a problem for governments; it could shape the future for younger generations.

Sabrina Maddeaux and Mike Moffatt explore how government debt, Old Age Security (OAS), and spending choices shift wealth between generations. They discuss whether wealthy seniors should receive full OAS benefits and how younger Canadians may be paying more through higher taxes, housing costs, and rising debt.

While not all debt is harmful, borrowing for long-term investments like infrastructure, transit, housing, and energy can be beneficial, borrowing to sustain costly programs is more controversial and raises questions about long-term fiscal sustainability.

The key question: Is Canada placing too much of the financial burden on younger generations?

Topics covered:
• Canada’s rising public debt and interest costs
• Old Age Security (OAS) and wealthy seniors
• Intergenerational wealth transfers
• Why government debt is rarely fully “paid off”
• Infrastructure investment vs. program spending
• The Gordie Howe Bridge and public investment
• Inflation, money creation, and debt
• Housing, taxes, and affordability for younger Canadians
• OAS reform and fiscal trade-offs

Chapters:

01:28 OAS: The $100 Billion Problem Hiding in the Budget

02:09 Why Wealthy Seniors Still Get Old Age Security

03:28 When Government Debt Is Actually a Good Thing

05:29 Who Should Pay for Infrastructure That Lasts 100 Years?

06:00 The Gordie Howe Bridge and the Case for Government Debt

06:53 The Truth About How Government Debt Gets Paid Off

08:49 Why Canada’s Growing Debt Still Matters

09:16 How Government Debt Can Fuel Inflation

10:18 What Happens When Governments Can’t Borrow?

11:38 Why Deficits Are Especially Dangerous for OAS

12:08 Should Canada Cut Old Age Security?