This is Vanese Ferguson with Coffee Talk. The Canadian Taxpayers Federation brought its Debt Clock to Ottawa Sunday – the point of which was to show the federal government’s $1.3-trillion debt going up in real time ahead of the budget which comes down on Thursday. The CTF says the debt is increasing by 179 million every day or $2,000 every second and every person’s individual share of the federal government’s debt is $32,700. Of course, the other side of incurring that kind of debt is the interest that is paid on it. Debt interest charges will cost taxpayers $58.7 billion this year -more than the federal government will send to the provinces in health transfers at $57.4 billion or collect through its GST at $53.4 billion. The government is also borrowing $65 billion this year. Maybe the Trump administration’s ploy regarding tariffs is to bankrupt Canada in light of the amount of money that is being sunk into making Canada resilient from reliance on the U.S. in the name of economic health. I just know that when I was a much much younger me and got my first credit card which I in fairly short order ran up a significant balance on, I quickly realized paying payments that I could afford wasn’t sustainable in light of the interest rate and the time it would take to pay it off. So, I bit the bullet, took out a loan at much lower interest rate and paid it off. And I’ve never done that again. Too bad our government’s both provincial and federal aren’t thinking about what they are bequeathing future generations of Canadians.
We need to slow down the money train
By Vanese M. Ferguson
Nov 2, 2026 | 8:08 AM
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