OTTAWA, ON: The Canadian Taxpayers Federation (CTF) revealed today that Canada’s federal debt will cross the $600 billion mark tomorrow, Saturday, November 24th, at three seconds before 11:19 pm. Canadians can log on to www.debtclock.ca Saturday night to witness the event live on the Internet.
“After a decade of Canadians paying down our debt, reducing it by more than $100 billion dollars between 1997 and 2008, the Harper government has borrowed back every penny and more,” said CTF Federal Director Gregory Thomas. “As of tomorrow, the Harper government will have added $142.4 billion to our national debt, taking it past the $600 billion mark.”
Canada’s national debt is now rising at a rate of $74.6 million a day, $3.1 million an hour, $52,000 a minute, and $863.27 a second.Canada’s federal debt could cover the $3.2 billion annual revenue of the National Hockey League for 187 years. Sydney Crosby’s 12-year $104.4 million contract could be extended for additional 68,964 years with the money Canadians owe on the federal debt. Canada’s federal debt could also cover the budget of the World Health Organization for 303 years, or cover the budget of the Global Polio Eradication Initiative for 275 years, matching the $700 million raised over the past 27 years by Rotary International members 857 times over.