Truemors
is reporting from
Member
NP Rank:
NP Rank:
American national debt vs. Canadian national debt
Share:
by Bender_420 | December 8, 2005 at 10:27 am
95812 views | 10 Recommendations | 88 comments
OK, so i had a few minutes to kill this morning and decided to look at North American debt levels per citizen.
The Current national debt owed by the USA is well over 8 TRILLION dollars, approximatly $8,128,207,427,249 and RISING. But don't take my word for it, check out the constantly updated and award winning USA Debt Clock.
So, with the current USA population at about 295,734,134, a quick division tells me this works out to $27,484 USD for every man, woman, and child in the United States. Of course, by the time you read this it'll probably be over $27,500 per capita...
In comparison, Canada's national debt is a "mere" $805 billionish (or $690,726,990,157 USD), AND FALLING. Keep in mind that we have a much smaller population, sitting at around 32,805,041, so our per capita debt load, coverted at today's exchange rate of $1 CAD = $0.863408 USD is around $21,055 USD/Canadian, and, thankfully, falling.
Holy crap am i ever happy we Canadians decided not to throw hundreds of billions of dollars into this latest war...
What is NowPublic?
NowPublic lets people work together to cover news events around the world.
Most Recommended Comment
Mark from Canada (not verified)
Crowd Power
Most Recommended Stories in World
Recommendations (10)
Anonymous users (10)
Most RecentMost Recommended Comments (88)
at 07:28 on October 7th, 2008
Read this:
http://www.cedarcomm.com/~stevelm1/usdebt.htm
Democrats spend less than Republicans. Clinton could easily go down in history as the most fiscally responsible president ever. Bush runs it like a CEO would run ... oh, say ... an oil company. Run it into the ground, declare bankruptcy and leave with a big paycheck.
at 02:58 on November 8th, 2008
Clintons surplus was a sham. He definitly didn't spend near as much as Bush. All of the other Presidents combined don't even compete with Bush.
There are two contributors to national debt: Public debt(treasury bills, savings bonds, etc.) + intergovernmental holdings(money the government borrows from itself-like from social security) = total national debt.
During the clinton administration public debt did decrease giving the looks of a surplus, however intergovernmental holdings increased at a higher inverse rate causing the national debt to continue to steadily increase. It was a sham, there was no real surplus.
It did not increase at near the rate as bush junior is making it but it did increase.
Therefore we need to do more than simply revert to Clinton Policies.
We need to address our monetary policy and heavily cut government spending. We need to pass laws that repeal past legislation.
at 12:09 on September 24th, 2008
HAHAHHA, you morons bragging about something, but yet the SIX people above me were not smart enough to realize they were replying to a TWO YEAR OLD POST!!! Wow, glad I'm not Canadian!
at 18:25 on June 7th, 2009
Does it matter that it's an old post? The numbers may be different now, but the theory is the same. And in fact, the US debt has increased dramatically since these replies.
at 12:10 on September 24th, 2008
EDIT: Almost 3 years old.
at 21:14 on September 27th, 2008
This is for lmao@u
Please note that the american debt increases at a rate of above 1 million dollars per minute.
Anyone with half a brain would relize this bailout package being introduced is nothing more then a bandaide.After this is passed you will see the american Dollar fall by 10-15% versus most currencies.
at 19:08 on September 24th, 2008
Doesn't matter how old the post was ,WE (as in all Canadians) still sit high atop all the G8 countries with the best economy going, WE are also the only ones paying off our debt and not increasing it. I am glad you are not a Canadian as well, but more than likely when the recession hits there you will come up and be looking for a hand out and WE will give it to you cause WE are that type of a Country. WE are also doing the job over in Afghanistan. Now that is costing us a pretty penny too, but WE do it just the same, cause that is what friends do. Oh and I might add we don't complain about it either, we just get the job done. Have a good day eh!
at 10:28 on September 27th, 2008
A canuck is absolutely correct. I might add that Canada is also our number one supplier of oil ( 2mbl. a day?) They also are our number one supplier of natural gas ( the US produces about 85% of it's own). As an American who greatly admires our neighbor to the north, I do not take for granted the fact that we are mutually dependent on each other.
at 08:21 on November 19th, 2008
We're also the most sanctimonious people on earth.
at 19:32 on September 24th, 2008
Our productivity is lower than the US. We are losing well-paid jobs, only being replaced by McJobs. We've been fading fast, especially over the past 3 years.
http://www.financialpost.com/story.html?id=788042
at 17:55 on October 21st, 2008
Blame the Harper government for that one! (And I'd like to point out that they maintain they're constantly producing more jobs... who cares if you can't live off of them!)
at 14:05 on October 22nd, 2008
to you ^^^ Blame Harper. I don't mind posts from people of both countries but at least have the dignity to say nothing for you cramp our Canadian style when you post idiotic comments such as that.
at 20:51 on September 28th, 2008
workers of all lands unite!
at 09:35 on October 1st, 2008
For the common good, we the people must join under one flag! Its red and has pretty stars on it too!
at 10:10 on October 1st, 2008
the americain health system actually cost MORE than the canadian one because the hospitals and the insurance companys both have to make a profit, meaning higher overall prices
at 13:38 on October 3rd, 2008
It may cost more, but it is there when you need it! The patient is treated like a paying customer, not an annoyance.
The insurance companies actually negotiate with Doctors and Hospitals to get preferred pricing. There is also the fact that a Doctor, Nurse, Radiologist etc. in the US makes more than the Canadian counter part. This is one of the reasons that there are so many Canadian healthcare professionals working in the US. Hospital Porters, Housekeeping and Kitchen staff make much more in Canada (My total comp in 1990 as a pot washer in a hospital in Toronto was $18.75/hour).
at 19:11 on October 1st, 2008
I am very discouraged in the direction that our country is heading. My biggest concern is for my two children. It does not take an accountant to understand that we are getting very close to the point of no return in regards to our national debt. $11.6 trillion! That is unbelievable.
We need to stop giving our money away to foreign countries. I.E. Free trade with China, Illegal immigration on our southern border, rebuilding Iraq, etc.
We need to approach all of foreign intanglements in a more business like manner. Maybe "lower key" and a lot stingier.
at 08:17 on October 5th, 2008
These numbers are staggering. What surprises me is the relative strength of the US dollar with the latest bailout of $700 B and the mounting debt. Normally a country carrying this amount of debt would see the currency devalue 30-50%. The future does not look bright and I am sure if the US goes down, we Canadians will be not far behind. So far our markets have been declining faster than the US so it will hit hard here once the dust settles.
at 15:56 on October 7th, 2008
To quote a great American President, Abraham Lincoln,
"You can fool some of the people all of the time, and all of the people some of the time, but you can not fool all of the people all of the time. "
The United States is a great country being diverted constantly by lobbiests. All politicians lie, but in the U.S, I think in part, they get away with it by selling well packaged B.S. 24/7.
Canada has a much smaller population, and I believe it is a hell of a lot more difficult to sell B.S. up here. The other important thing is we are less focused on lure of free market capitalism. I grew up in a business family in Canada, and really enjoy the challenge and rewards of capitalism. Fortunately however, the free market takes a back seat when it comes to the common good and welfare of the individual here in Canada - mainly through health care. While healthcare is not perfect here, it does tell everyone who lives here that their life has enough value that it is not equated to money.
With any luck, there will be a change for the better this year in the U.S. election. If I was an American I know I would send a strong message.
at 13:14 on November 1st, 2008
I read all the comments overhere....and i really think you had the best one my friend, accurate and very sensible as well; the love-hate relationship we have with our brothers from the states is mainly related to whom is in power at the white house,and it changes with the time, well it should not be so...because individually they always remain the same, not that far from what we actually are, we share the most important values as human beeings.
at 12:11 on March 25th, 2009
It is true. People on both sides seem to be very quick with the generalizations, and this is wrong. I am sure most of us know people living on the other side of the border who do not appropriately fit under the labels so casually thrown around.
at 19:20 on October 8th, 2008
wow $11 trillion you guys should wake up over there. thank god i live in canada. one day those other countrys that you guys bully will stop lending you idiots money
at 11:51 on October 27th, 2008
What do you expect from a guy name Premium Ali??
I hate these terrorist. Why are you here in Canada? Go back to where ever you came from! USA is our brothers and always will be our best friends from thick thru thin. US economy will be back in full swing. As a Canuck myself, I have a lot of fate with our American cousins. They are the greatest country on Earth! (well after Canada of course..lol) I wish them all the best!
at 18:29 on October 9th, 2008
'premium ali', as a fellow Canuck I must say don't be such an A$$.
We are in this new economic reality together. Canada enjoyed benefit from the last years of economic boom in the US and now will share in the hangover. I do hope that people's civility will prevail because it will be very tough times ahead. The only option the US govt. has left is to print money going into this crisis with an existing mountain of debt, which may end up with the Great Depression being referenced to as 'kinda tough times'. Lets all hope not!
at 18:53 on October 10th, 2008
well doom you may have a point but no one told those yankees to go spend a trillion dollars on a war that does not exist and give a bunch of welfares a $200 000 morgage when they dont have a job and pay ceo millions oh sorry hundred of millions of money for nothing so bro tell me if we middle class deserve this
at 00:58 on October 12th, 2008
The economic crisis is much smaller compared to fact that Armegedon is eventullay going to happen soon. Any one who can read should know this its all over the worlds media. And if you have ever read a bible it mentions things like in Revelations. I swear i read about a natrual disaster every day and theyll only get worse because of gloabal warming. Not to metion america has got the middle east all pissed off now and united nations cant get them to quit building weapoms of mass destuction. And the only thing i can think about is joining the military becuase its my only option their are no jobs where i live.
at 02:39 on October 12th, 2008
why worry about debt?. all countries have debt no matter what they tell you.
http://ran-the-monkey.livejournal.com/3805.html
go here and enjoy some interesting sites.
also at the top left--previous entry-button for some older sites.
at 03:26 on October 13th, 2008
The only reason that Canada is so low is because we DON'T have to protest ourselves. We let the USA do it for us. If we had to invest in arming ourself like the USA we would be BROKE! One more thing if we had the same population as the USA we would be basicly in the same boat. Why??? Because WE ARE THE SAME PEOPLE!!
I for one I'm very glad that we have a great brother like the USA.
at 22:38 on October 31st, 2008
what are you including in the us national debt???
at 20:38 on November 9th, 2008
Of the G20 countries, Canada has the best shot at avoiding recession - depression. The U. S. is our biggest trading partner, but most of what we export is in demand world wide, ergo we can export to China, Japan, India, Pakistan etc. the goods we don't sell stateside.
Our income tax level is higher than the U.S.'s, but if you factor in hidden fees and taxes, the levels change. Add to that, in Canada, the poor have first rate health care and a shot at post-secondary education that would be unheard of south of the line.
N.B. Canada enjoys greater longevity and a higher live birth rate than the U. S. Canada's health care ranking has slipped to an abysmal 30th place world wide because the Feds have worked diligently to reduce the Fed debt, and this meant cuts to health care. That said, the U. S. is rated # 37. http://www.photius.com/rankings/healthranks.html
Professional people may do better than their Canadian counter parts, but the inverse is true at lower levels of pay and in both countries, there's a damned sight more low level wage earners than high level earners.
And, while upper level workers pay a lower level of tax than their Canadian counterpart, someday soon, America will have to pay the piper. Communist China and Japan hold a vast chunk of U. S. debt, but the world cannot keep America afloat forever.
I wish Americans every success, and hope your new prezzie can sort out your financial woes asap. I don't think he'll be a tax and spend pres nor a tax and bill the grandkids pres. I figure he's going to be a tax and invest in America kinda guy.