The Financial Post reports in its Wednesday, Sept. 11, edition that the New Democratic Party splitting from its coalition with the Liberals is a reminder of the current state of the national economy. The Post's David Rosenberg writes that Canada is facing a debt crisis, with the household sector heavily leveraged. The total debt-to-income ratio is at 177 per cent, double the government sector's debt load and significantly higher than historical norms. Coupled with the Bank of Canada's previous aggressive tightening cycle, Canadians are spending 15 cents on debt service for every after-tax dollar earned, a level that has preceded past recessions. The government has neglected capital formation and productivity, masking the economy's weakness by promoting a record-breaking aggressive immigration policy, leading to a 3.5-per-cent annual population growth rate. The economy's multiplier effect has been minimal, resulting in less than 1-per-cent GDP growth annually. Real per capita GDP has decreased by 2.4-per-cent year over year for the past five quarters. Productivity in Canada is in secular decline -- down 0.8 per cent from a year ago versus the 2.7-per-cent uptrend south of the border.