About
The vast majority of the electorate have no or little interest in, knowledge of or understanding for government debt and deficit. Only about 3% have more than a cursory understanding. But when the average voter is explicitly informed of both the size of the current accumulated public debt and its unrelenting growth (largely a result of overwhelmingly funding for generous entitlement programs rather than for public capital works), learns of the proportion of government revenue required to carry the interest on the debt and internalizes their kids and grandkids will inherit these obligations, a sea change in voter perspective results in about 75% of the electorate. They will demand governments balance their budgets and pay down debt, even knowing that it will require their sacrifice and austerity.
The target group of governments that run deficits is the average voter. The strategy of such governments is to keep the average voter uninformed of the debt and deficit, thereby unmotivated to demand tackling the problem, while showering them with new or enhanced social programs to retain or attain votes. Therefore, new spending is always paid for by rich taxpayers, future efficiencies or a foggy debt-to-GDP ratio. Rhetoric on behalf of social victims used by those governments and associated interest groups play a major role in justifying deficit spending.
The fruitlessness of deficit hawks stems from their targeting of governments that run deficits, all the while preaching to the converted and hopelessly unconvertible. They come across as a would-be Prime Minister or Premier, not conceding that implementing their advice will throw the government out of office and ruin many political careers. The absence of any strategy of deficit hawks to persuade governments to platform balanced budgets over fear of losing votes by changing public opinion regarding deficits results from underestimating the intelligence and character of the average voter.
Canada's Debt Legacy Clock uses the latest numbers reported by governments.
From start date of 2026-04-01, start debt at $2,393,485,100,000 (all of it accumulated since 1970) and increase
by $115,444,800,000 for the fiscal year and start interest at $0 and increase by $102,714,100,000 for the fiscal year.
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