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.
 Over the past decade it had slowly declined to $458-billion in 2008. Now this has all changed. Our federal debt grew by $5.8-billion in 2008-09, by $53.8-billion in 2009-10 and is expected to grow by $49.2-billion in 2010-11. Further, it's expected to grow through at least 2014-15. In just three years all the debt repayment of the past eight years will be wiped out.
Canada's debt re-passed the $500-billion mark at 4:55:46 AM on December 2, 2009.
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Debt History
