Wednesday, May 21, 2008

Canada's Debt Actually in Trillions

According to a Fraser Institute news release, almost $800 billion of direct debt is compounded by another $1.3 trillion in programs the government has committed itself to. At $75,942 debt per citizen, Canada is 13th out of 20 high income nations of the world.

VANCOUVER, BC— Each Canadian taxpayer owes $150,211 in federal, provincial, and local liabilities, according to a new study released today by independent research organization the Fraser Institute.

The study, Canadian Government Debt 2008, shows that federal, provincial, and local governments have accumulated $791.2 billion in direct debt and more than $2.4 trillion in total government liabilities. Total liabilities include direct debt and programs that the government has committed to provide such as Old Age Security and Medicare (Canada’s public health care system).

Although net direct debt (liabilities minus assets) of all three levels of government fell from $800.4 billion to $791.2 billion between 2000/2001 and 2004/2005, this is a small drop compared to the growth of Canada’s debt since 1990/1991 when our net debt stood at $533 billion, said Niels Veldhuis, Fraser Institute director of fiscal studies and co-author of the study.

3 comments:

robertsv said...

Well that's true that since 1990 the graph of canada's debt rates is hiking up. I too am living in canada and i am also attending some Anti-debt programmes in order to get relief from all my debts.
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robert
Credit Card Debt

alizia said...

There is a fact that the graph of Canada’s debt rates is hiking up since 1990. So there is a message for all Canadians that they should always attend Anti Debt Programs.
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alizia
http://www.mydebtconsolidation.name

Imagine said...

And what was it in 85?

$160,000,000,000

What about in the 70s?

$35,800,000,000

Seems something has shifted in the economics of Canadas monetary system.

http://www.britannica.com/EBchecked/topic/240155/government-budget/26359/Evolution-of-government-borrowing

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