The Canadian Taxpayer’s Federation brought its Debt Clock to Ponoka Monday

Canada’s debt $625 billion and counting

Taxpayers watchdog raises concerns over Canada's $625 billion growing debt.

Canada’s debt continues to grow at an alarming rate, so much that our debt interest payment alone was $26 billion last year, says the Canadian Taxpayer’s Federation (CTF).

The same group that highlights tax dollar waste with the infamous Teddy Awards is taking its Debt Clock on a cross country tour to highlight how much money $625 billion the federal government is borrowing, explained Aaron Wudrick, CTF federal director.

“We’re talking $1,000 a second. That’s about $80 million a day being added. That’s a lot of money,” stated Wudrick.

The clock was originally launched before the Harper government won its majority and Wudrick said that government added about $150 billion during their time in office.

“The irony though is we’ve got a new government, which was very critical of those deficits, and also ran on real change and now seems to be doing exactly the same thing,” he stated.

What he feels is worse, is that the Liberal government doesn’t seem to have a plan to get back to balanced books. What voters can do is speak with their members of parliament and voice their concern over the cost. With the national debt where it sits, every Canadian would have to pay $17,344 to ensure debt is completely paid off.

“It’s been about $1 billion added since we launched last week,” said Wudrick.

The $26 billion paid to debt interest last year was more than what Canadians spent on its military in 2015, said Wudrick.

“We didn’t get anything for it…if we want good quality programs and services, we can’t be spending billions of dollars on interest,” he said.

“Somebody has to pay the bill at the end of the day and it all comes out of our own pockets,” he added.

According to the Fraser Institute Canada’s cumulative debt is expected to rise to $1.3 trillion in 2016.

 

Just Posted

Council highlights

Council to fund Rimbey Boys and Girls Club for $15,000

CAUTION ADVISED: River valley trail systems closed – Updated with photos

High water levels, overflowing the banks in places, see Ponoka issue warning to public

Reflections: Celebrating the long history of the Ponoka Fire Department

The department served Ponoka for 112 years protecting area residents

WCPS to set meeting with Alberta Education

Wolf Creek Public Schools wants to see some clarification on student funding

UCP leader uses Ponoka fundraiser to prep party for spring election

Jason Kenney focused on policy convention and need for united front in order to win in 2019

WATCH: Central Albertan receives award for aiding RCMP officer in arrest

Lonnie Amundson, rugby player, tackled a fleeing suspect to help ailing officer

‘When everybody leaves: Counselling key to help Humboldt move on after bus crash

Dealing with life after a tragedy can be the worst part following a loss

Half-naked shooter guns down four, runs away in Nashville Waffle House shooting

Nashville police say they are looking for Travis Reinking in connection with the shooting

Child’s body found in river downstream from where boy went missing during flood

Three-year-old Kaden Young was swept out of his mother’s arms in February

Austin Powers ‘Mini-Me’, Verne Troyer, dies at 49

Facebook page confirmed his death Saturday afternoon

Alberta man dead after snowmobile collision on B.C. mountain

The incident occurred on Boulder Mountain Friday morning

Speed Skating Canada fires coach Michael Crowe after investigation

Crowe was a coach on the American team from 1983 to 1991 and again from 1999 to 2006

5 things to know about the ongoing influx of asylum seekers in Canada

Number of illegal border crossings are up this year – as RCMP, military, politicians try to combat

WATCH: ‘Battle of the Badges’ event raises money for Humboldt Broncos

Red Deerians get together at charity hockey tournament April 20th at Servus Arena

Most Read