National Debt at Record $9 Trillion

[ssiguy]

Remember debts in Canada are paid in C$ NOT US$.
Our current federal debt is 28% of GDP and total federal and provincial debt is now about 46% of GDP.
Remember that US figure of 9.2 $trillion does not include the current state debts totally 2.2$ trillion.
That is a high rate by any measure but it's made worse by several factors. First, these debts are rising faster now than ever. Second, yours does not include your massive medicare bills that are unfunded unlike Canada and most of the Western world. By 2014 your medicare bill will be 16% of GDP compared to Canada's 9% which in of itself is high by Western standards.
Third, you are only now taking your debt seriously but due to waiting your baby-boomers are going into retirement as opposed to in the 90s when they were at their prime working/income age.

Interset payments on your debt are rising fast and backed up by the fact that your federal government refuses to cut your military budget, which is already as large as the the next 5 largest in the world, you have very little room to manouver.

Bush has done your nation {and the world} in a predicament and if neither Obama nor McCain decide to treduce military spending then your debt will continue to climb at unsustainable levels.