Here are facts on our Canadian debt (caused by big government and un-controlled government spending):
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Between fiscal years 2003-04 and 2009-10, the combined rate of inflation and population growth averaged 2.5 per cent. During this period, Liberal and Conservative governments have grown program spending by an average of 7.03 per cent annually.
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Canada currently is running its largest deficit ever – projected to be $55.9 billion for 2009-2010.
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Program spending has skyrocketed by almost 60 per cent in only six years.
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By 2014-15, another $170 billion is projected to be added to the debt. Per capita that equals a mind boggling $10,228 per taxpayer.
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National debt grows at a rate of $1,772.58 per second. (At this pace, in just two years, we will have wiped out all the debt repayment of the last eight!)
And what of our enormous $500 billion debt?!
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The first time the debt clock surpassed $500 billion was on August 2, 1994.
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On Sunday, November 22, 2009 it again churned past the $500 billion mark.
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So how much is this? The debt rolled into loonies lain on the ground, end-to-end would circle the equator 21.2 times.
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A $500 billion stack of loonies would reach from the earth to the moon, and back, and then a quarter of the way back to the moon again.
