The Canadian debt clock can no longer properly display the total number of Canadian debt, as it has run out of placeholders since the debt has now popped the $1 trillion mark.
The clock, designed and implemented by the Canadian Taxpayers Federation (CTF), is now basically "obsolete;" it was designed in an earlier era, back in the 1990s, in which a Canadian national debt in the trillions was simply unthinkable.
Franco Terrazzano, the director of the CTF, commented, "The Trudeau government broke our national debt clock by running the debt beyond $1 trillion"
"We made the mistake of underestimating politicians’ ability to spend other people’s money. Our national debt clock no longer has enough digits to display the size of the federal debt because nobody ever dreamed the debt would grow this big."
"Trudeau can’t blame the pandemic for the government’s debt troubles because he was already spending at all-time highs before COVID-19. Now the feds are using the pandemic to go on a debt-fueled spending spree with no plan on how to balance (its) budget."
Terrazzano went on to say that the CFT is in the process of making a new clock in order to keep tracking the national debt by the second and raising public awareness about the issue.
At the last official count, every second, Canadians owe $10,000 more in total, or $1 billion more every day, as the debt level continues to soar. This also doesn't even take into account provincial and municipal debts.
Currently, each Canadian's share of the debt totals more than $26,000.
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