The Debt: An Economic Catastrophe Few national economic issues have generated the same kind of concern as has the federal debt problem of Canada. There is a pressing need for long-term policies to lift Canada out of the national debt hole it is in. Eliminating the debt will not only free up money being spent on interest and reduce taxes, but make Canada a more feasible place for future generations to live and work. Interest on the debt has eroded the government's ability to fund its own operations and essential social services. Presently, thirty-five cents of every tax dollar the federal government raises is used for interest payments alone on the debt. Though there have been operating surpluses within the federal government, they have been eaten up by the debt interest payments. Few people understand the devastating effects of compound interest. The debt, a....

Number Of Pages: 4

Number Of Words: 891

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