Canadian Taxpayers Federation’s Debt Clock -- LNN

By Connor Gunn

National Debt Clock comes through Lethbridge

Mar 19, 2022 | 6:00 AM

LETHBRIDGE, AB – The Canadian Taxpayers Federation’s (CTF) National Debt Clock is touring Canada increasing awareness of the federal government’s $1-trillion debt.

Stopping in Lethbridge on Friday, the truck with the debt clock on its side represents how much The Canadian government is in debt.

The digital counter is being taken across Canada to show the debt increasing in real-time.

Starting in Victoria, BC, and going to Ottawa, ON, Federal Director of the CTF, Franco Terrazzano, hopes to show Canadians how impactful debt can be.

“It’s hard for most of us to imagine a trillion-dollar debt, but we know what it’s like to watch a bill going up in real-time and that’s exactly what the Debt Clock shows Canadians.”

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“Canada’s national debt is already more than $1 trillion and it’s going up by almost $400 million every day,” Terrazzano adds.

For reference, he says “If a Canadian makes a two-minute YouTube video in front of the Debt Clock, that video will show the national debt go up by more than $500,000.”

The CTF says the clock shows:

• Canada’s federal debt is more than $1.1 trillion.
• The debt is increasing by $391.5 million every day or $4,531 every second.
• Each Canadian’s individual share of the federal government’s debt is about $30,800.

Stated in the CTF release, “the federal government isn’t projected to balance its budget until 2070, according to data published by the Parliamentary Budget Officer. The federal government was spending all-time highs before the pandemic.”

Terrazzano finished off by asking for a balanced budget in the future.

“It’s time for Prime Minister Justin Trudeau to rein in his massive borrowing and give taxpayers a plan to balance the budget.”

“A balanced budget means less debt for Canadian kids and grandkids to pay back, less money wasted on interest charges, and fewer tax hikes.”

For more information on the initiative, go to debtclock.ca.

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