Comment 66914

By A Smith (anonymous) | Posted July 26, 2011 at 15:14:08

From 1982 - 2000, debt charges in Canada never dropped below 7% of GDP. In that time, GDP/capita increased faster than home prices, and GDP(PPP) grew at 4.71%/year.

From 2000 - 2010, debt charges have been reduced to around 3.5%-3.75% of GDP, while GDP(PPP) has only averaged 3.02%.

If our past history shows us that our economy performed quite well with higher debt charges, why are we so concerned about deficits?

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