A very important piece on the birth and growth of the Canadian Debt.

As much as the die hard liberal voter want to deny the truth, the history books won't let them. It always concerns me when people remember historic events but only go back so far in history. Where do you think the debt came from before Mulroney? Our past debt was left by My Charisma himself, Trudeau, inflated by 16-20%+ interest rates in the Mulroney era. That is why I had to save this following comment from A Catherine:   "I am a retired federal government employee who worked under the Trudeau government, who took Canada from a $18 billion debt left over from WW11, when he took office in 1967, & turned into a $271 billion dollar debt, created by massive out of control spending, & lack of balanced budgets the full 16 years he was in power. He grew the National Debt by 1100%.   The Interest owing on that debt after he left office and Mulroney took power in 1984, was $30 billion per year which ate into the Mulroney budgets the full 8 years he was in office. Mulroney managed to pay down $42 billion down on the Trudeau debt, and balanced his budgets every year, however, the interest owing on the Trudeau debt caused him to declare deficits most of his time in power.   Chretien came to power in 1993, the Trudeau debt had grown to $471 billion because of the massive interest charges on the debt. Chretien began his own spending spree in 1993 that grew the debt by another 200% by 1996, bringing the National Debt to $521 billion, before he was forced to take notice by the Bonding Agents who downgraded Canada's  Read more:

http://www.cbc.ca/world/story/2010/09/23/united-nations-canada-security-council.html#socialcomments#ixzz10NQ3jsbI