This open letter is a challenge to everyone to respond – especially to all seniors.
The facts are out: Canada is an oil-exporting nation. The price of oil has dropped by over 50 per cent, so the national government revenue will be down; so, to balance a budget, the government will have to cut expenses, and that means cutting benefits to seniors.
So, if seniors do not like this, they had better do something right now.
What can seniors do? They have to immediately tell the government what it must do. And what must the government do? It must do more of its borrowing from Canada’s public central Bank of Canada (BoC) because the BoC gives its profits to the government, while the private banks that it now does much of its borrowing from, gives their profits to their shareowners and employees.
Also, private banks and private companies must give more of their profits to their shareowners and less to their top employees.
Albert Opstad, Surrey