so we're no better than them really!

Actually that statement is not quite correct. I agree we have a huge problem, however the big difference between us and them is unfunded liabilities. As much as I hated the Liberals for all of the cheap pandering they did to get votes, they did do a few things right that were unpopular at the time. As a result our old age security, unemployment insurance funds and the big one being the capital requirements maintained by banks puts us in a much better position than the US. Granted being better than them is not much condolence when we are facing huge problem down the road non the less.