Like many other countries around the world, in Canada you don’t quite hear or see what the TOTAL national debt is unless you really look for it. On the news or in the papers, you typically hear about the current fiscal year deficit but you never fully comprehend the magnitude of the overall spending until you see it in context to the total national debt owed by the country. So we decided to check good ol’ Stats Canada to see where we are in that department and what do you know… The total central government debt as of December 2009 is a whopping $847 Billion dollars.
Now don’t get me wrong thats not not even close to the $12 Trillion debt of the US, but the debt to GDP ratio in Canada is getting up there.
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Good stuff, It might just work, although it seems easier when you have a plan.
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Awesome! I read so many blogs every single day, and I have to say that yours is number one. Please keep going, I do not want you to stop. Best Regards … Albertina Kahola