Making Money Minute with Ron Hiebert - Federal Debt
Last year Canada enjoyed hitting a number of financial records. The stock market, residential real estate and household wealth reached all time highs. The one crown we shouldn’t be proud of, is our Federal Debt. That wall of red ink, according to the Fraser Institute, climbed to an inflation adjusted 2.35 trillion dollars last year.
This is the highest level of Federal debt in our history, increasing 4.2% over the previous year. In dollar terms, this works out to $56,432 of Federal debt per person
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Next time you talk to someone younger, thank them in advance for paying for something they didn’t create or benefit from. For more information listen to my Making Money podcast with Ron Hiebert and Graham Hicks at letsmakemoney.ca or CFCW.com