EN FR

Billboard campaign sounds alarm over $1,000,000,000,000 federal government debt

Author: 2021/08/10

TORONTO, ON: The Canadian Taxpayers Federation is launching a cross-country billboard and social media campaign to warn Canadians about the federal government’s $1-trillion debt.

“Deficit spending is out of control and we’re pushing politicians to be honest about how they’re going to pay back the $1-trillion debt,” said Franco Terrazzano, Federal Director with the Canadian Taxpayers Federation. “More deficits mean more debt that Canadian kids and grandkids will need to pay back. Politicians need to rein in their deficit spending so future generations aren’t weighed down by soaring government debt.”

The CTF launched a national billboard and social media ad campaign to warn Canadians about the federal government’s $1-trillion debt. The billboards will run in Vancouver, Calgary, Winnipeg, Toronto, Ottawa and Montreal and the CTF will be running social media ads in the other markets.

At $1 trillion, each Canadian’s share of federal government debt is currently about $29,000.

On its current trajectory, the federal government won’t balance its budget until 2070, according to the Parliamentary Budget Officer. Debt interest charges would cost Canadians $3.8 trillion and the federal debt would cost about $67,000 per Canadian by 2070 under the status quo.

“Politicians owe taxpayers the truth about how they are going to pay for this $1-trillion debt and the truth is taxpayers are going to get clobbered if politicians don’t tighten their belts,” said Terrazzano. “Interest charges on the debt siphon away billions that can’t go to health care or lower taxes.”


A Note for our Readers:

Is Canada Off Track?

Canada has problems. You see them at gas station. You see them at the grocery store. You see them on your taxes.

Is anyone listening to you to find out where you think Canada’s off track and what you think we could do to make things better?

You can tell us what you think by filling out the survey

Join now to get the Taxpayer newsletter

Franco Terrazzano
Federal Director at
Canadian Taxpayers
Federation

Join now to get the Taxpayer newsletter

Hey, it’s Franco.

Did you know that you can get the inside scoop right from my notebook each week? I’ll share hilarious and infuriating stories the media usually misses with you every week so you can hold politicians accountable.

You can sign up for the Taxpayer Update Newsletter now

Looks good!
Please enter a valid email address

We take data security and privacy seriously. Your information will be kept safe.

<