Canada’s federal debt grew steadily between 5% and 10% per year until 1975 when it began to explode; growing for the next 12 years at more than 20% per year. It broke the $100 billion mark in 1981 and the $200 billion mark in 1985. While the growth slowed in 1988, our federal debt continued to climb, breaking $300 billion in 1988, $400 billion 1992, and $500 billion in 1994. It peaked in 1997 at $563 billion.
 Between 1997 and 2008, it slowly declined to $458 billion. After that, it all changed. Our federal debt grew by $5.8 billion in 2008-09, by $55.4 billion in 2009-10, $34 billion in 2010-11, $31 billion in 2011-12. It's expected to grow by $21.1 billion in 2012-13. Further, it's expected to grow until 2015-16. In just three years from 2008 to 2011 all the debt repayment ($105 billion) of the previous eight years was completely wiped out.
Canada's debt re-passed the $500 billion mark at 3:37:16 AM on November 25, 2009.
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Debt History
