Quote:
Originally Posted by Matata
Has Canada ever significantly paid down it's debt, has any modern western country?
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Well that is the dirty little secret about this. No one is actually talking about paying it back, and it won't actually happen. The US for example isn't actually going to pay about $19 Trillion in debt back. Canada isn't paying however many hundreds of billions back. We'll reduce it when the servicing costs get too high and eat into the ability to borrow, and maybe reduce it some when that kind of thing happens, but that's it. Imagine the outcry if one government actually cut enough to pay say $500 billion over 5 years? We can't even just keep it level for five years straight, so reduction is a pure pipe dream!