Canada’s national debt passes $600 billion mark, interest hits $31 billion per year

$600 billion and counting…

Canada’s national debt officially hit the $600 billion mark for a fraction of a second on Saturday, Nov. 24 at 11:19 p.m.  Of course, it then continued on and is now at $600,122,785,305.01 (at the time of this writing).

The nation’s debt load is rising $74.6 million per day, $3.1 million an hour, $52,000 each minute and $863.27 a second.  That’s a lot of money, especially considering how Canada paid down the debt by more than $100 billion between 1997 and 2008.

In 2012 alone, the federal government is paying $31 billion in just the interest on the debt.

“Australia and New Zealand, the Netherlands, Korea, Switzerland and the Scandinavian countries all have a lower debt load than Canada,” said Canadian Taxpayers Federation Federal Director Gregory Thomas in a statement. “With Canada’s abundant natural resources, we should be balancing the budget and paying down the national debt.”

The full press release can be found here.

Canadians don’t really seem to care about debt.  A new poll found that Canadians are indifferent to being in debt.  Watch the video below.

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