Why Are Young People Paying for Wealthy Seniors?

Canada’s growing debt isn’t just a problem for governments; it could shape the future for younger generations.Sabrina Maddeaux and Mike Moffatt explore how government debt, Old Age Security (OAS), and spending choices shift wealth between generations. They discuss whether wealthy seniors should receive full OAS benefits and how younger Canadians may be paying more through higher taxes, housing costs, and rising debt.While not all debt is harmful, borrowing for long-term investments like infrastructure, transit, housing, and energy can be beneficial, borrowing to sustain costly programs is more controversial and raises questions about long-term fiscal sustainability.The key question: Is Canada placing too much of the financial burden on younger generations?Topics covered:• Canada’s rising public debt and interest costs• Old Age Security (OAS) and wealthy seniors• Intergenerational wealth transfers• Why government debt is rarely fully “paid off”• Infrastructure investment vs. program spending• The Gordie Howe Bridge and public investment• Inflation, money creation, and debt• Housing, taxes, and affordability for younger Canadians• OAS reform and fiscal trade-offsChapters:01:28 OAS: The $100 Billion Problem Hiding in the Budget02:09 Why Wealthy Seniors Still Get Old Age Security03:28 When Government Debt Is Actually a Good Thing05:29 Who Should Pay for Infrastructure That Lasts 100 Years?06:00 The Gordie Howe Bridge and the Case for Government Debt06:53 The Truth About How Government Debt Gets Paid Off08:49 Why Canada’s Growing Debt Still Matters09:16 How Government Debt Can Fuel Inflation10:18 What Happens When Governments Can’t Borrow?11:38 Why Deficits Are Especially Dangerous for OAS12:08 Should Canada Cut Old Age Security?13:10 Are Younger Canadians Giving Up on Canada?13:58 There’s No Easy Way to Fix the Intergenerational Wealth Gap14:55 Why Younger Canadians Want Lower Taxes16:20 Why Tax Cuts Aren’t Fixing the Generational Divide16:46 When Government Debt Makes Sense—and When It Doesn’tResearch/Links:As Canada faces crippling debt, it must do the unpopular thing and cut elderly benefitshttps://www.theglobeandmail.com/business/commentary/article-canada-debt-cut-elderly-benefits/Scott Gallowy Short:https://youtube.com/shorts/PAAbLq1bJY0?si=9-Z06rW1H8tiQW-kCanadian taxpayers face up to $3,348 each in government debt interesthttps://www.wealthprofessional.ca/news/industry-news/canadian-taxpayers-face-up-to-3348-each-in-government-debt-interest/392762The Burdens of borrowing: Government debt and intergenerational fairnesshttps://www.if.org.uk/2025/01/28/the-burdens-of-borrowing-government-debt-and-intergenerational-fairness/G7 debt is now a pressure point for anxious marketshttps://www.reuters.com/world/china/g7-debt-is-now-pressure-point-anxious-markets-2025-06-03/The evolution of federal debt interest costs in Canadahttps://www.fraserinstitute.org/commentary/evolution-federal-debt-interest-costs-canadaCanada’s combined federal-provincial government debt estimated to surpass $2.4 trillion in 2025/26https://www.fraserinstitute.org/studies/growing-debt-burden-canadians-2026-editionIntergenerational Injustice in Canadian Public Financehttps://www.gensqueeze.ca/intergenerational_injustice_in_canadian_public_financeHosted by Mike Moffatt & Cara Stern & Sabrina MaddeauxProduced by Meredith MartinFunded by the Neptis Foundation https://neptis.org/