net direct debt

2:00AM
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Imagine receiving a credit card bill that totaled $243,476. This would no doubt be a shock for most Canadians. But if you add up all the liabilities of every Canadian government—federal, provincial, and local—that is in fact how much each taxpayer would owe of the $4.1 trillion total in direct debt and unfunded liabilities.

This admittedly is a very large number and much bigger than what is usually talked about by both politicians and pundits alike. So let’s deconstruct it to gain a better understanding.