A new study by the Parliamentary Budget Officer says that Trudeau's decision to lower the age of eligibility for Old Age Security back to 65 from 67 will cost Canadians tax payers an extra $11 billion. That's per year.
The Harper Conservatives raised the age from 65 to 67, with a gradual shift in that direction starting in 2023, meaning that it wouldn’t hurt people about to retire but would be a change for people like me, a 44 year-old man many years away from retirement. I’d have time to plan.
This is something other countries are already doing, to account for changing demographics. It's just common sense.
But Justin Trudeau and the Liberals campaigned against this idea, using scaremongering, not hard facts.
Did you know that when OAS was instituted in 1952, it was means tested, and you had to be 70 years old to qualify? And that back then, life expectancy was UNDER 70? Now life expectancy is 81 and climbing.
Unlike the Canada Pension Plan, which we pay into and which we then draw from our own account, OAS is not tied to what you paid in, it simply comes out of general revenues. Where will this annual $11 billion come from?
We can reform the system now or just keep passing the bill on to our kids and grandkids.
My first guest is talk Conservative MP Gerard Deltell. We'll get his thoughts on Trudeau’s decision.
Then the Rebel's own Gavin McInnes talks about the legalization of marijuana next year. Is this a good idea or is Trudeau just pandering again, this time to the youth vote.