The federal budget ignores Canada’s debt

Canadian consumers are encouraged to keep household expenses below income, preserve savings, and invest wisely. If we fail, banks gladly sell us consumer loans, which we agree to repay, with interest. Using this analogy, Finance Minister Bill Morneau’s budget encourages Canadians to overdraw our account, and to draw irresponsibly upon Earth’s regenerative capacity to sustain life as we know it.

Using recent United Nations data, scientists at the Global Footprint Network calculate Earth’s Overshoot Day, the annual date beyond which Earth could replenish what humanity takes.

Canada ranks third, but we deserve no Bronze Medal, ranking third worst among 126 countries. For 2017, if all humanity used nature like Canadians, Earth could not regenerate after March 13. The world’s 2017 Overshoot Day was Aug. 2. Consequently, other countries buckle under the heavy debt that Canadians create.

Climate scientists explain that, assuming business as usual, humans will push Earth to a point where nature is unable to replace what is taken from its regenerative capital. Using a capitalist analogy ends here, however, because no bank can loan humanity another planet.

The Trudeau government offers an irresponsible budget, which perpetuates the illusion of limitless growth, while it simultaneously expands the fossil fuel economy by approving projects like the Kinder Morgan pipeline.

By ignoring Canada’s debt to Earth, this budget hurtles humanity towards the collapse of life within many ecosystems, here and around the world. Gail Stevens, Saskatoon