Gucbee Premier | ' Mc mday | ~ othe -appos i cprovinees = a Y destroys the last borer of tha ment, Hem Small wonder. Pierre _ sunday news north shore news NEWS oe 985-21 31 1139 Lonsdale Ave., NOM ancouver. ‘B.C. “Teoa) y 885-21 31 “ADVERTISING | CLASSIFIED’ CIRCULATION 980-0511 986-6222. 986-1337 - te a Publisher Peter Speck Associate Publisher Editor-in-Chief Advertising Director Robert Graham: Noel Wright - Eric Cardwell ‘ General Manager Creative _ Production it Administration Director Rick Stonehouse Berni Hilliard _ Tm Francis Faye McCrae Mans Ing Editor - News Editor Photography | Andy Fraser Chris Lloyd Ellsworth Dickson Accounting Supervisor Circulation Director ‘Barbara Keen . Brian A. Ellis North Shore News, founded in 1969 as an ‘Independent communi- ty newspaper and qualified under Schadule til, Part tll, Paragraph lil of the Excisa Tax Act, is published each Wednesday and Sunday, by “North Shore Free Press, Lid, and distributed to every door on the North Shore. Second Class Mail Registration Number 3685. Subscriptions $20 per year. Entire contents © 1981 North Shore Free Presa Lid. All rights reserved. No responsibility ‘accepted for unsolicited material. including |. manuscripts and pictures, which should be accompanied by | a stamped, addressed return envelope. VERIFIED CIRCULATION: 50,870 Wednesday; 49,01 3 Sunday eon wy P come -, pounds: ought and six, result 4 \ DICKENS, : a This month the federal government gets parlia- ‘ toe ow’. $14. billion- for’ ‘current housekeeping. We've come.a’long way on ° ‘the downward path since Dickens expounded his ‘recipe for carefree living in David: Copperfield. ‘And-don’t let's pretend it has: pothing, directly to do with you: and me. It has. | " That's. ‘the: basic: message “from Michael» Walker, - director of ‘the Fraser Insti- ‘tute, economic Sle “research . ‘organization, ..'/ a In a chilling. article in this. “week's: Financial, : ‘Post —_ Chilling, in, ‘particular, . “for! our children: and grand- © -children'— ‘Walker analyzes _ just what. that.. new. $14. . billion | government bor- ‘rowing means: aah For starters, it's hardly | ‘going to buy us anything at . _under Joe Clark the’ over- “spending dropped briefly to | ‘SLL: billion . ‘(and you ‘know Minister’ Trudeau ‘and his 8 pals at the till once more, it’s “back up. by, a further $3 The “polite. term for: this “fina “of national house- keeping is“ deficit financing’ estimates the present tax all. Most of it ‘will be used . meaning that’ the govern- ~ _simply to pay the interest on oarlior® |» ‘government | ‘borrowings. ‘The *. ‘personal : “parallel | ‘would be: carrying - charges ‘on your revolving. peli ‘accounts totalling such a: ‘large amount that you had to. go to a loan company for the . “money. to; pay, just - the ‘charges, ‘without, paying off any of tie bill , BUYING VOTES, - ean bn sca ae vod” ‘the government has. been — spending more than it took ment gives the citizens more services than. it asks them . (for the moment) to. pay for “in taxes. » “: The rude description ' is buying votes for your party with money the taxpayers haven’t yet earned. For, as Walker points out, “deficit . financing” should. more. accurately. be. called ilves. we gieferred -‘taxation,”’ Somewhere’ down the road. ‘the. ever-mounting debt will have to be paid.- . By you and me. Or by our heirs and . succesnors. Governments haven't a cent of ‘their. ‘Gwe, though ‘its ‘colleagues will have retired sometimes hard to believe. At current rates Walker |; deferral at 16 years. In other | words, Mr. Trudeau and his to the safety of the history books: well before we and ~ > Pierre. “Trudeau: & Co, our. children start. shelling aren't piling | ‘up any: commit out for their debt sround “ments asa result. Unless we _ That, mark | you,’ is Y! assuming the annual deficit . ora is held at today’s $14 billion: veut oil be you and I and ‘It won't be, of course. And ° Sn He end gt ota the higher the debt goes, the their kids). for the taxpayer will anive, lah beck or taxpayer will arrive. Which brings t Dickens — whe 30 PERCENT TAX MIKE What if we paid as wo go, . like any sensible © |