Juggling Dynamite

How has the Supreme Court’s Citizens United decision changed campaigns in America?
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It is by now widely reported that Canadian household debt levels are perilously high at a record 163.4% in the second quarter. Less acknowledged however, is that total government debt has actually been growing at a higher rate than households since 2008 . A new report from BMO Capital Markets points out that rather than just chastising Canadian consumers for living beyond their means, the various levels of Canadian government should also be focusing on surging debt levels since the last recession. This trend is only likely to worsen over the next few quarters, as Canadian tax revenues weaken amid the incoming economic downturn. See: Canadian government debt has risen much faster than household debt since 2008

This week on Here’s the Thing, Alec talks about the financial crisis with Joseph Stiglitz, a Nobel Prize-winning economist. Stiglitz shows no restraint when unleashing criticism of presidential policies — on both sides. Of President Barack Obama’s financial-industry rescue plan, Stiglitz said that whomever designed it was “either in the pocket of the banks or … incompetent.” Stiglitz talks to Alec about growing up in Gary, Indiana and how that impacted his decision to become an economist.