by Ottawa_Chap » Wed Mar 03, 2010 04:32:33 PM
"The U.S. has a total debt of US$53 trillion, or 370% of its GDP. The U.K. is at 470%, Japan is at 460% and Canada is at 245%"
$53 Trillion dollars... That's just an absolutely disgusting number. I'm willing to bet that they don't have anything close to a viable plan on hand to pay that off. Given Gov't mentality, they'll (if they ever can) pay that part way down, then, find some excuse to rack it back up; citing that they 'were able' to pay it down once, so doing it again won't be a problem.
In my mind Canada is no better off, unfortunately. Even if we get some serious right-sided people in power who are interested in paying our debt down, the left wing population will raise a stink and claim more money should be spent here, or, there... It's going to hard to find a balance that keeps everyone happy.
Infuriating one C/A at a time..