Quote:
Originally posted by Claeren@May 19 2005, 07:21 PM
Canadian debt is well under control these days though. The liberals (regardles of whether you are a fan) have made subtantial porgress in making payments and have cut debt as a % of GDP by a HUGE amount.
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I wouldn't agree with that at all, though admittedly its a matter of perspective.
We've grown our way out of the debt to GDP ratio. And certainly the Libs deserve some credit for running balanced budgets for 7 years to allow that to happen.
Actual debt paydown has been relatively small.
And though the ratio looks better, the feds still spend more on debt servicing than they do on any social prgram - 40 odd billion dollars.