Like a silent but deadly avalanche, debt will soon wipe out the possibilities for success and security many Canadians desire.
On Canada’s national or federal scene, our government’s budgetary business faces a dark, smothering future as well.
Think back if you can.
In 1981, something happened in Canada that likely created a stir at the time but was quickly forgotten.
The Canadian national debt crept quietly past 100 billion dollars.
But 1981 Trans Am cars made a more pleasant sound to our ears so we barely noticed.
In 1985 our national debt past 200 billion dollars.
But the 1985 Corvette was hot, so our attention went elsewhere.
In 1988 Canada’s national debt pushed beyond the 300 billion barrier.
But many home buyers pushed past 3,000 sq. ft. and were too busy shopping for new furniture to care.
In 1991, just three short years later, national debt ballooned to 400 billion dollars.
But Home Improvement debuted that year, starring Tim Allen, and many viewers purchased bigger screen TVs to increase their viewing pleasure.
In 1994 national debt past 500 billion dollars.
And Dave Matthews Band released ‘Under the Table and Dreaming,’ and that’s where most people spent their summer.
In 1996, Canada’s debt hit 563 billion, its highest level in history.
But hockey was very entertaining that year so most Canadians paid more attention to the Stanley Cup win by the Colorado Avalanche.
Uncharacteristically, 1996 was followed by 11 straight years of budgetary surpluses, and in that time period our country’s national debt was reduced by approx. 100 billion dollars, and in 2007 it sat at 458 billion.
To those you think those were really great years and we made tremendous progress, and, as a country, we’ll be able to continue that path with ease, let me say two things.
First....
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O Canada, our home and mortgaged land...
Please click here to read National debt is a silent, deadly avalanche Part 2
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