Our National Debt

The  Canadian Taxpayers Federation does a great service with the use of the debt clock. You can go to their website and get the debt of each province and that of the Federal Government.

Some takeaways

1. Contrary to Provincial Government spin enhanced by a gullible press each provincial clock shows their debt growing. In other words this balanced budget paraded by B C and now of late by the Quebec Government is just not valid. How can you have a balanced budget if your debt is growing?

2 . The debt of all the Provinces totals $635 billion .

3. The Federal  Debt which is also growing totals $628 billion

4. So total NATIONAL debt is over a trillion dollars at $1.2 trillion. 

5. The three most indebted provinces per capita are Quebec, Ontario and Newfoundland and Labrador , $22, 000, $21,000 and $20,000 respectively .

 

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2 thoughts on “Our National Debt

  1. Hello Brian. Should probably check when the Debt Clock was last updated. Canada’s debt is more like $1.24 Trillion subject to $28 Billion in annual interest and going to at least $1.44 Trillion within 5 years as Mr. Trudeau borrows another $150 Billion to “flood the economy with cash”. NL&LAB owes about $19 Billion, on which they pay about $1.1 Billion annually for interest. They only take in $7 Billion. After interest, at $1.1 Billion, the next biggest bill is Salaries and Benefits to staff totalling about $3.9 Billion. That’s right. The motherland has 5 of the 7 Billion it takes in committed to 2 line items. Interest and Salaries and Benefits. And they are borrowing at least another $5 Billion to keep Danny’s pride and joy, Muskrat Falls, on the rails. Like Cyprus, Ireland, Iceland, Greece, soon Spain, Portugal and Italy and now there’s Japan spending 41% of its tax revenue on Interest. Oh yes, can’t forget Puerto Rico. They’ve all gone bankrupt using the same formula. Spend more! Borrow more! Hire more! Produce less and Pay less! Cheers! Dawson ( Dudley Burt’s Nephew )

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