Quote:
Originally Posted by Hack&Lube
I didn't realize that while the national debt is only $56 Billion (miraculuously about 10% of what it used to be in 1998!!!), Ontario's provincial debt is almost $15 billion and most of the provinces aside from Alberta are doing badly in that department and that is hiding a major weakness in the Canadian economy when you only look at the national debt.
|
No, you are reading that all wrong.
http://www.debtclock.ca/
The $56B is the 2009 deficit. What we added to the debt in 2009. Which was 10%(!!!) of our total debt.
The Liberals did a good job of getting it from $563B to $458B, but much of that was just offloading the debt to the provinces, which is why so many of the provinces are struggling with their books right now.