It takes a special level of financial incompetence to achieve what Canadian Prime Minister Justin Trudeau did last night, on ironically the shortest day of the year. Canada’s government debt swept over the $1,000,000,000,000 mark. Of course, such a massive debt is just deferred taxation. Someone will eventually have to pay it.
But there are also those hidden costs that many are unaware of. Such as what the Canadian Taxpayers Federation (CTF), a watchdog on government spending, will have to incur. In the 1990s, the Canadian Taxpayers Federation built a giant debt clock, that they hauled around by a truck to malls and communities cross Canada exposing how fast Canada’s government debt was growing.
When it was first constructed, the CTF never thought the country’s debt would hit $1,000,000,000,000. Last night the clock hit $999,999,999,999:
Of course, Canada’s Prime Minister, Justin Trudeau, is blaming the pandemic for the crushing debt, but a recent chart demonstrates Trudeau’s special level of financial mismanagement as it reveals the growth of Canada’s debt compared to other countries since 2019.
Check out the CTF’s online debt clock at debtclock.ca.