Canada`s Debt Deficit comparisons with major countries

[GarthChapman]

The 2009 US deficit is 43x greater than that of Canada while their population is only 9x greater. That means that the average American is carrying 5x more government debt on top of their personal debt. Yet American tax rates are significantly lower than our own?

Download the attached file for some key current financialcomparisons with the USA, Germany, Japan and the UK.

*Sorry, I could not figure out how to paste the table to the body of this post.

 

[mark186]

The Canadian Taxpayer`s Federation, an institution I would put a lot more faith in than the Toronto Star, has higher numbers for Canada: http://debtclock.ca/?gclid=CIrI-IHxj5kCFRDyDAodHTHQbQ

Nearly double the total Canadian debt and consequently the per capita.

 

[billf]

QUOTE (mark186 @ Mar 6 2009, 10:36 PM) The Canadian Taxpayer`s Federation, an institution I would put a lot more faith in than the Toronto Star, has higher numbers for Canada: http://debtclock.ca/?gclid=CIrI-IHxj5kCFRDyDAodHTHQbQ

Nearly double the total Canadian debt and consequently the per capita.
We are not in that great shape.

I read an article a month ago that puts our debt (Fed/Prov/Municpal) at approx 730 billion, or 43K per person or 62% of GDP, and the US is at around 10.8 Trillion or 39K per person and at 60% of GDP. The average American taxpayer pays 30.8% in total tax, while in Canada we pay 44.8%.

The news might be screaming that the US is in trouble but they still have more room to increase the tax side than in Canada. Man we were in rough shape in the 90`s. I hope the government can keep the spending down.