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.”
google
August 27, 2011