LOL what??
No it isn't. The only thing debt-to-GDP measures is the ability to potentially pay back debt, as well as ability to service current debt loan/interest payments.
Think about it this way: if you're 12 and your only income comes from doing chores around the house, $200 is a big debt that will take forever to pay off. If you're a grown-up with a decent job, $200 is easily manageable. Most of us accumulate and pay off $200 or more of credit card debt every month. The size of the debt relative to our income is what's most important.
Another thing to keep in mind is that government debt is actually being repaid (and renewed) all the time. Government debt is financed by issuing bonds that are repaid after a fixed duration. Old bonds are continually being repaid, and new bonds are continually being reissued.
One danger is that people might decide that government bonds are not a good investment anymore. This could happen if:
-people are not sure your country will exist long enough to pay back their bonds. (Canada bonds should be fine, I think.)
-people don't think your government will be able to pay back their bonds when they are due.
-people decide that the interest rates you are offering are not attractive. For example, if interest rates are low, or inflation is high, people might want to invest in something else.
But we do, you know, have to come up with the money to pay back the bonds that come due every year, and in a year when we are going to have big unplanned expenses and a big unexpected drop in revenue, that is going to be a headache.
-k
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