French flagpolish flagspanish flag

Canadian debt 1867-1992 : $423 billion

on Monday, 01 January 2001. Posted in Debts & Deficits

Statistical Source: Canadian Auditor General's report Nov. 1993

The effect of compound interest

In his November 1993 report, Canada's Auditor General calculated that of the $423 billion in net debt accumulated from Confederation to 1992, only $37 billion went to make up the shortfall in program spending. The remaining $386 billion covered what it has cost to borrow that $37 billion. In other words, 91% of the debt consisted of interest charges, the Government having spent only $37 billion (8.75% of the debt) for actual goods and services.

Leave a comment

You are commenting as guest.

Your Cart

Latest Issue

Choose your topic

Newsletter & Magazine



Go to top
JSN Boot template designed by