The U.S. debt was $1-trillion in 1982, and at $12.1-trillion just four years ago. It's now at $16.7-trillion and needing to be raised on Oct. 17th, or the country will be unable to pay its bills and will default on debt payments. This sends a clear message to a debt-ridden populace: that their own government doesn't even take debt that seriously.
The latest U.S. government shutdown dominated headlines this week, prompting questions as to whether a similar situation could happen here. I sat down with my colleague at Samara, Jane Hilderman, to talk about the government shutdown and why -- for better or for worse -- it can't happen in Canada. What's at the heart of a government shutdown like the sort we're seeing in the U.S.?