April 19th, 2024

CTF Debt Clock tour stops in city

By Justin Seward - Lethbridge Herald on March 19, 2022.

Herald photo by Justin Seward Canadian Taxpayers Federation federal director Franco Terrazzano made a stop with the Debt Clock at Dave Elton Park on Friday to remind Canadians of the $1 trillion and rising debt the country is in.

The Canadian Taxpayers Federation’s Debt Clock tour stopped in Lethbridge on Friday afternoon.
The mobile truck shows a digital real time of the $ 1 trillion debt increase that Canada is facing due to the Trudeau government.
“This is a brand-new Debt Clock and we needed a brand new one because the Trudeau government broke the last one,” said Franco Terrazzano, CTF federal director, during the stop in Lethbridge.
“The last clock didn’t have enough digits to display the $1 trillion debt. So we underestimated how good a politician is at spending other people’s money. So, we’re taking this coast-to-coast, all over Canada, to sound the alarm over the government’s $1 trillion debt and that $1 trillion debt is going up by $4,500 every single second and that means that each Canadian is already on the hook for more than $30,000 in federal government debt – which is a huge amount.”
Terrazzano says this year alone taxpayers are going to lose out on about $25 billion just to pay the federal government’s interest charges.
“That’s $25 billion that can’t be used to hire more nurses or it’s money that can’t stay in our pockets because it going to the Bond Fund managers on Bay Street,” he said.
“So that’s why we’re pushing the federal government to stop this deep dive into debt.”
CTF has been doing a Debt Clock tour since the early 1990s and the 2022 tour began on Monday in Victoria and is expected to take a month.

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