Wednesday, June 3, 2009

DEBT in 5 years: $630B!!!

This is unbelievable. From CBC News another report from TD Bank:

"Canada's total debt will jump more than 30 per cent by 2013-14 under current economic conditions, the Toronto-Dominion Bank said Tuesday in a new forecast.

The bank said Ottawa's auto bailout package, as well as a lagging economy, will add $167 billion in new public borrowing over the next five years.

That means government debt, estimated at $462.9 billion at the end of fiscal 2008-09, will rise by 36 per cent during the period to almost $630 billion, according to Don Drummond, TD's chief economist, and Derek Burleton, the bank's director of economic analysis."

What the heck is going on? And why are Stephen Harper & Jim Flaherty still in power? Time to throw these fools out!!!!

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