Actually, Debt IS a Problem!

Consolidated Credit responds to the Fraser Institute

The headlines and statistics continually warn about Canadians over-extending themselves with household debt.  The Bank of Canada and other international bodies seem to agree: we are in over our heads.

But a recent report from the Fraser Institute suggests that the media is merely fanning the flames of a problem that is much smaller than we think.  Debt fears are overblown.  They argue that assets are on the rise and we may be taking a view of debt that is far too simplistic.

But Jeff Schwartz, executive director of Consolidated Credit Counseling Services of Canada, feels there needs to be further clarification.  In an interview with Ottawa’s 1310 News, Schwartz tells host Ed Hand that not all debts, and not all assets, are created equally.

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