Taxpayers federation says national debt to hit $600B tomorrow, urges restraint

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OTTAWA — The Canadian Taxpayers Federation says the country is about to pass a red ink milestone.

The federation says the national debt will reach $600 billion just seconds before 11:19 p.m. ET tomorrow.

And federation director Gregory Thomas says it’ll keep climbing, so long as the Harper government keeps spending beyond its means.

The federation applauds finance minister Jim Flaherty’s commitment to balance the budget before the next election.

Still, Flaherty acknowledged last month that the fallout from the recession will prevent Ottawa from erasing the national debt by 2021.

Thomas says Canada would not have a deficit had the Conservatives not decided to spend billions of dollars to dig the country out of the recession that began in 2008.

The federation is also blasting the Tories for spending millions of dollars on advertising to boast about the money it’s been spending.

 

 

Organizations: ET tomorrow.And federation, Conservatives

Geographic location: OTTAWA, Canada

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