Hey, here’s an interesting stat that should make us Canadians feel good…. Our Federal govt keeps telling us to slow our personal debt levels… maybe they should start balancing their own books… I remember when, in 1997, the Feds actually balanced the budget and even made a surplus. Remember that? In fact, from 1997 to 2008, the Feds reduced our national debt from $563billion to $458billion. We seemed to be heading in the right direction.
Then the U.S. sub-prime mortgage crisis hit and the Feds starting spending in an attempt to avoid a major recession. So far, it’s worked. Our economy has performed pretty well when compared with most other countries. But our National Debt level has now surpassed the $600billion mark for the first time ever. How concerned should we really be? Is our national debt level really that high? I decided to compare out debt with a handful of other countries to see how we stacked up….
NOW FOR THE GOOD NEWS