Startup Ecosystems USA vs. Canada in the Innovation Race

The federal government's 2023 budget was based on a 10-year interest rate of roughly 3%. That may now have to grow by half a point, which may raise borrowing costs by several billion dollars every year for the foreseeable future. And if interest rates remain high for an extended period of time, as many (including the Bank of Canada) anticipate, the government's debt levels may become unsustainable. Consider the following scenario: federal borrowing costs average 3.5 percent, government revenue and economic growth decrease to an average of 3%, and government spending grows at 3.5 percent. I expect that federal debt GDP will reach 47 percent by 2028, roughly where it was at its peak after COVID-19. This is significantly greater than the government's plan of 40% that year. Federal debt that grows faster than the economy is unsustainable. If the fiscal update confirms this, alarm bells should sound.What can Canada do? As previously said, sticking to the government's earlier goals would be a solid start. Ratcheting up spending plans with every budget is a major reason we're in this scenario. Looking ahead, anyone aspiring to succeed the present prime minister, whether inside the Liberal Party or Pierre Poilievre of the Conservatives, should begin to evaluate choices.

The longer we wait, the more significant and difficult our financial issues will become.

On a frigid Sunday morning, eight family members of Jewish hostages held captive by the Hamas terrorist group in the Gaza Strip arrived in Ottawa to relate their tale and appeal for Canadian solidarity.They traveled to Canada from October 29 to 31, just weeks after Hamas militants murdered 1,200 Jews in a kill-and-capture raid against Israel on October 7. They spoke with legislators, addressed the media, and appealed to regular residents with a single message: "Do not forget our stories. "Bring our families home." Those of us who spent time with the hostages' families found their experiences more vivid and authentic. Not social media abstractions, but real-life tragedies narrated by people wishing to hug their mothers, nephews, nieces, uncles, and aunts again. Alexandra, a family member, told Sapir's experience. Sapir had flown to Kibbutz Nir Oz to spend the Sabbath with her husband Alexander and his family. Alexander's father, Vitaly, 50, was slain, and his mother, Elena, 50, and grandmother, Irina Tati, 73, were taken as hostages to Gaza. Aviv and Alexandra learnt of Sapir's incarceration after viewing a TikTok video of her being paraded around the streets of Gaza, spit on, beaten, and humiliated.  Then there's Aharon, who spoke so sweetly about his sister-in-law, Hagit, and her generosity, as well as the summer he spent in Toronto 

with her and her three children, Ofri, 10, Yuval, 8, and Uriah, 4. 

On October 7th, the four were kidnapped from their house on Kibbutz Kfar Aza and transported to Gaza. Itay and his mother Merav traveled to Ottawa to represent her uncle and aunt, Avraham and Rute Munder, both 78 years old, who were kidnapped by Hamas terrorists along with their daughter Keren Munder, 54, and her son Ohad Munder Zichri. Ohad turned nine while in captivity, and instead of celebrating with his friends and family over a birthday cake, he is held in brutal captivity.Harel came to tell the story of his niece, Tiferet Lapidot. Tiferet attended the Nova music festival on October 7th, just like any other 22-year-old, before it became a place of terror and mass slaughter. Tiferet was assassinated by Hamas terrorists at the Nova music festival, where over 260 innocent people were killed.Finally, there was Chen. Chen came to bring awareness about his mother, Vivian Silver. Vivian was a Canadian who migrated to Kibbutz Be'eri and made a wonderful life for herself. She led the peace movement and was dedicated to bringing Israelis and Palestinians together. On November 13th, 

Vivian was officially confirmed dead, rather than missing. 

Listening to her son speak about her during the news conference revealed a woman full of brightness and kindness. Vivian devoted her life to the peace movement, developing genuine and long-lasting ties with Palestinians in Gaza. It took five weeks to identify her body among the wreckage of Kibbutz Be'eri, representing Hamas' massive devastation.Despite the anguish, while listening to these stories, I felt engulfed by two emotions that seemed to be shared by everyone present, Jew or non-Jew. Love: the kind of love we forget to feel most of the time, but which flows powerfully from our hearts when our innermost sense of humanity is challenged. And will: Israel's unwavering determination to survive. Fight, win, and flourish. Every spring, Jews around the world gather around the Passover table for Seder supper to recount the tale of the Israelites' departure from Egypt. Through joy and music, we recall that we were slaves once, without rights or land, but now we are free, with our ancestral lands permanently in our own.