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Originally Posted by acottawa
That’s 46 billion dollars a year (half directly attributable to Trudeau). That’s 30 “National Plarmacare” plans we are pissing away every year.
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That's 46 billion dollars a year that the government are paying back. They spent a lot of money in 2020 and 2021 because there was a world-wide pandemic and an economic melt down. Canada didn't have unique immunity, and it responded like pretty much every other country. "Debt increases are particularly striking in advanced economies, where public debt rose from around 70 percent of GDP, in 2007, to 124 percent of GDP, in 2020." [
IMF]. Canada's debt to GDP ratio rose too, from 53.9% to 73.7% in one year - so not as much as many countries. It's back down to 66.3% in 2023 [CEIC].
Assuming interest rates continue to fall, and the economy doesn't significantly falter, the government debt as both a % of revenue, and as a % of GDP, should be on a downward trend over the next year.