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Canadians buried in debt

By: Letter to the Editor

 | Jan 03, 2014 - 3:54 PM |
The reason our grandparents did not have more than one car and only went to restaurants a few times a year is because they knew how to handle money and credit cards were unknown back then.

Nowadays most people don’t think about money, they just put it on their card. The latest stats show 67 per cent of Canadians live week to week.

Have these people thought about what happens if they lose their job? If interest rates go up two percentage points?

Politicians do not want to come right out and say it due to causing panic, but you can see from the decisions federal Finance Minister Jim Flaherty has made that the government is concerned. And it should be.

If we thought 2008 was bad, the next downturn will make that look like boom times.

I fear for our children and grandchildren. We are leaving an unbearable debt to them while we continue to live without think what the meals, manicures and cars are really costing us.

Yvan Robert
Greater Sudbury

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