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U.S. National Debt is $11.5 trillion (updated 1 July 2009) and has continued to increase an average of $3.91 billion per day since September 28, 2007! Canadian Prime Minister Stephen Harper called the U.S. deficit "dangerous". Canada's deficit is short-term and not structural.

Canadian Prime Minister Stephen Harper called the U.S. deficit "dangerous"

"The Liberal Party cites the United States as their fiscal model ... In the United States the deficit is running at four times the size of our deficit. It is a dangerous, long-term structural deficit that existed even before the recession began, one that will require tax increases eventually." Harper said last Thursday his government is set to post a record high deficit of C$50.2 billion this year but promised to balance the books again in 2013-14.

Harper has repeatedly said Canada's deficit is short-term and not structural. The White House forecast last month the U.S. deficit for fiscal 2009 would swell to $1.84 trillion, more than four times the then-record $455 billion deficit for fiscal 2008.

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Photos courtesy of AuthenticHistory.com and federalbudget.com

Original Source: Reuters