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We Owe! – $60,000 in Household and Federal Debt for Every Canadian

Posted by: Jacob Abecassis  /  Tags: ,  /  Comments: 1

The combination of household debt and the federal debt adds up to nearly $60,000 for every Canadian, according to BMO Economics.

“Household debt growth has been slowing since the start of the year but, at $44,288 per Canadian, is the highest in at least four decades,” according to Jennifer Lee, Vice President and Senior Economist, BMO Capital Markets. “Meanwhile, Canada’s federal debt of $519 billion currently works out to $15,240 per Canadian. That said, the federal debt is expected to decline over the next five years.”

For more: http://www.marketwatch.com/story/repeat-owe-canada-60000-in-household-and-federal-debt-for-every-canadian-2011-06-29?reflink=MW_news_stmp

One Comment

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August 27, 2011

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