Can you write a cheque for $15,000?
Posted Oct 3, 2011 1:36 pm.
This article is more than 5 years old.
The Canadian Federation of Independent Business has issued a warning about the rising level of federal and provincial debt.
By midnight Monday, total goverment debt in Canada will surpass the $1.1 trillion mark.
“Every Albertan would have to write a cheque of almost $15,000,” CFIB Vice President Ted Mallett tells 660News, referring to how much every man, woman and child owes. “$14,690 ought to do it.”
Mallett says our debt situation is not as bad as it was back in the 1990’s, but it’s again reaching what he would call uncomfortable levels.
“Governments need to keep an eye on their ultimate goal, and that is balancing budgets eventually,” says Mallett. “This is why we put the debt clock up in this kind of form. We don’t want Canada going further down that road. We’re not there yet, but it’s important for us to realize that we’ve got to manage affairs effectively and governments spend within their means.”
If the idea of writing a cheque for close to $60,000 for a family of four makes you grimace, consider the plight of Quebecers. Mallett says each resident of Quebec is theoretically on the hook for $38,723.
