Well, I got pretty tired of seeing Conservatives and Liberals continuously going after each other in regards to debt. The Conservatives accuse Trudeau for everything related to debt. The Liberals accuse the Conservatives of having the most debt. I decided to break it down in columns by facts and adjusted for inflation. (scroll down for the table)

Federal Debt-to-GDP ratios are approx.(gross / net should follow same curve). The number was taken at the end of the term of the prime minister in power. Although debt is a concern, what really matters is the debt-to-gdp ratio.

Method: It would be a long exercise to compile the inflation for each yearly deficit. What I did is I used the middle year of a prime minister's term for the inflation calculation on the Bank of Canada website. It's not 100% precise but give us a good idea.

DEBT - Raw Numbers Pre-Inflation Calculations (actual numbers that have to be paid)
CONS: $428.3 billion over 46 years in power.
LIBS: $178 billion over 86 years in power.

DEBT - Numbers Post-Inflation Calculations
CONS: $735.6 billion over 46 years in power or $16 billion per year.
LIBS: $624.9 billion over 86 years in power or $7.3 billion per year..

What I find interesting here, however, is that the numbers would be better for the Conservatives if it was not for Mulroney. Mulroney pummeled the economy with debt. He indebted the country more than Trudeau. Trudeau has a total debt of $456 billion (inflation adjusted) over a period of 15 years or $30.5 billion per year. Mulroney generated $487.3 billion of debt over 9 years resulting in $54 billion per year. Those are the inflation adjusted numbers. If you look at what actually needs to be paid (raw numbers), Mulroney blows Trudeau and others combined out of the water on having saddled CAnada with the most debt. Our current debt it about $612 billion. Mulroney generates $289 billion in debt. That's 47% of our entire debt since 1896. Yet, since 1896, he was in power only 7.5% of the time. In contrast to Trudeau, Trudeau generated $136 billion which amounts to 22.2% of our debt. For being in power 12.5% of the time.

My Conclustion
I am not an economist but I know how to add up deficits and adjust for inflation. It seems to me that assigning debt to a party is a futile effort. Both parties showed restraint many years in power. But both parties had big spenders: (Trudeau and Mulroney). Both parties had to spend in time of war. From what I can see, adding up to 50% of the previous term total deficit to the debt seems reasonable. based on the numbers in the chart (notwithstanding a major war or depression). As I said, I'm not an economist but hey, if Justin Trudeau is reading this (polls look favourable), try and keep it under 50%, will ya. I'm watching you. haha

Finally, the raw numbers matter as well. Because of, precisely, inflation, it is easier to pay down past debt. What we have to pay down is not the inflation calculated numbers but the raw numbers. Whe you look at that, it's not pretty in the Conservative camp - thanks Mulroney.

Prime MinisterYears in OfficeDebt when ElectedDebt when left officeDifference.. Over # YearsDebt-to-GDP ratio - end of term
Wilfrid Laurier (LIB)1896-1911$227 million
(Adj. inflation: apx. $4.3 billion)
$340 million
(Adj. Inflation: $7.2 billion)
+$113 million (50% increase)
(Adj. inflation: $2.4 billion)
16 years
Robert Borden (CON)1911-1920$320 million
(Adj. inflation: apx. $7.2 billion)
$2.3 billion
(Adj. Inflation: $25 billion)
+$2 billion (700% increase)
(Adj. Inflation: $38.5 billion)
10 years
William Mackenzie (LIB)1921-1930$2.3 billion
(Adj. Inflation: $25 billion)
-- little change --(0% increase/decrease) 10 years
R.B. Bennet (CON)1930-1935$2.3 billion
(Adj. Inflation: $40.5 billion)
$2.85 billion
(Adj. Inflation: $50 billion)
+$500 million (20% increase)
(Adj. Inflation: $8.8 billion)
6 years
William Mackenzie (LIB)1935-1948$2.85 billion
(Adj. Inflation: $50 billion)
$11 billion
(Adj. Inflation: $117.5 billion)
+$8.15 billion (285% increase)
(Adj. Inflation: $116.5 billion)
14 years
Louis St-Laurent (LIB)1948-1957 $11 billion
(Adj. Inflation: $117.5 billion)
$11.7 billion
(Adj. Inflation: $94 billion)
Decrease it today's dollars of $23 billon 10 years
John Diefenbaker (CON)1957-1963$11.7 billion
(Adj. Inflation: $94 billion)
$16.8 billion
(Adj. Inflation: $131.2 billion)
+$5.1 billion (43% increase)
(Adj. Inflation: $42 billion)
8 years35%
Lester B. Pearson (LIB)1963-1968$16.8 billion
(Adj. Inflation: $131.2 billion)
$19.4 billion
(Adj. Inflation: $130 billion)
+$2.6 billion (15% increase)
(Adj. Inflation: $18.8 billion)
6 years22%
Pierre Trudeau (LIB)1968-197919.4 billion
(Adj. Inflation: $130 billion)
$77.3 billion
(Adj. Inflation: $244 billion)
+$58 billion (300% increase)
(Adj. inflation: $277.6 billion)
12 years30%
Joe Clark (CON)1979-198077.3 billion
(Adj. Inflation: $244 billion)
$92 billion
(Adj. Inflation: $262 billion)
+$14.7 billion (20% increase)
(Adj. Inflation: $42 billion)
1 year31%
Pierre Trudeau (LIB)1980-1984$92 billion
(Adj. Inflation: $262 billion)
$170 billion
(Adj. Inflation: $356 billion)
+78 billion (85% increase)
(Adj. Inflation: $178.6 billion)
4 years42%
Brian Mulroney (CON)1984-1993$170.4 billion
(Adj. Inflation: $356 billion)
$460 billion
(Adj. Inflation: $683 billion)
+$289 billion (170% increase)
(Adj. Inflation: $487.3 billion)
9 years68%
Jean Chretien (LIB)1993-2003$460 billion
(Adj. Inflation: $683 billion)
$500 billion
(Adj. Inflation: $624.7 billion)
+40 billion (8.6% increase)
(Adj. Inflation: $65 billion)
10 years41%
Paul Martin (LIB)2003-2006$505 billion
(Adj. Inflation: $618.5 billion)
$496 billion
(Adj. Inflation: $575 billion)
-$9 billion (1.7% decrease)
(Adj. Inflation: -$11 billion)
4 years31%
Stephen Harper (CON)2006-2015$496 billion
(Adj. Inflation: $505 billion)
$613 billion$117 billion (24% increase)
(Adj. Inflation: Did not include)
8 years35%

Data pulled from Taxpayer.com and BankofCanada.ca for inflation rates.
This is not a witchhunt. These numbers are approx numbers obviously. It is quite obvious that Liberals have seemingly better managed debt over the course of the last 120 years. You could argue that I did not go back all the way to Confederation. But the numbers back then mean much less, are very small and the party in power for many years back then were the Liberal-Conservatives.