Canada to be debt free by 2021?

Its a nice proposition for the Conservative government. But with the federal portion of Canada's looming national debt being $480 billion that's 32 billion dollars a year.

There appears to be a misconception about the debt reduction. Evidently the debt will not include amounts owed against the Canadian Pension or Quebec Pension Plans. Which in the words of Liberal leader Billy Graham "is manageable". The calculation involves calculating net debt. Which means taking all liabilities and subtracting the governments assets. The value of the CPP is around 98 billion. I'm not sure what the value of the QPP is. But as you can see the overall debt reduction strategy is marginalized with the offset of net pension assets. This makes the debt reduction payments just undo 20 billion versus 32 billion. Its still a significant portion of the taxpayer's coin... But in the long run it will save your great, great, great, great, great, great, great, great, great, great, great, great, great, great, great, great, great, great, great, great, great, great, great, grandchildren money a few years into the future. :)