Basically here are the stats:
1994: 67% of GDP
2011: 30% of GDP
Percent of GDP spent by Canadian Government:
2011 Debt Held by the Public: 62% of GDP
2011 Percent Spent by Federal Government: > 40%!
Wow! I don't know how we haven't already crashed! It's coming, and sooner than we think. I never thought I'd be envious of Canada, but after our politicians (of both stripes) have so utterly failed us, Canada is looking better and better.
As to Stossel's skepticism about Boehner and the Republicans making the change, I share that skepticism, plus some. If the politicians are going to get anything significant done, the only way it will happen is if we citizens keep their feet to the fire.