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The Canadian Taxpayers Federation’s “debt clock” rolled into Winnipeg Wednesday morning to highlight the federal government’s $1.2-trillion debt.
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The digital counter, mounted on a truck, displays the debt increase in real time, showing an increase of $1,200 every second.
“The federal debt is already more than $1 trillion and it’s going up by more than $100 million every day,” said Gage Haubrich, CTF Prairie Director said in a press release. “Every dollar the feds rack up in debt today is a dollar plus interest that taxpayers will have to pay back tomorrow.”
The federal debt now exceeds $1.2 trillion, with each Canadian’s share over $29,000. Federal debt interest charges this year will reach $54 billion, surpassing annual GST revenue.
“Every penny we pay in federal sales tax is going to pay interest on the Trudeau government credit card,” Haubrich said. “The feds are wasting too much money on debt interest charges so Trudeau needs to cut spending and balance the budget.”
By year-end, Prime Minister Justin Trudeau will have more than doubled the federal debt since assuming office.
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