Federal debt is down (in real dollars, but more so in terms of per cent of GDP) and seems headed in the right direction. And Canada is the only G7 country to not be running a deficit! I hadn't really paid much attention to this stuff since I remember people saying Canada was going bankrupt back in the late 1980s or so.
I think the real thing to take from this is we should all buy more Toyota's and Valpolicella (Italian red wine) as the Japanese and Italians need some help!
More "exciting" reading and loads more graphs at:
http://www.fin.gc.ca/ec2005/ec/ecc3e.html
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