The Debt: An Economic Catastrophe

Few national economic issues have generated the same kind of concern as has the
federal debt problem of Canada. There is a pressing need for long-term policies
to lift Canada out of the national debt hole it is in. Eliminating the debt
will not only free up money being spent on interest and reduce taxes, but make
Canada a more feasible place for future generations to live and work.

Interest on the debt has eroded the government's ability to fund its own
operations and essential social services. Presently, thirty-five cents of every
tax dollar the federal government raises is used for interest payments alone on
the debt. Though there have been operating surpluses within the federal
government, they have been eaten up by the debt interest payments. Few people
understand the devastating effects of compound interest. The debt, at a
compound rate of 10%, doubles in seven years, quadruples in fourteen years, and
is eight times as much in......

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Title: The Debt: An Economic Catastrophe
Approximate Word Count: 830
Approximate Pages: 4 (250 words per double-spaced page)

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