Skip to content

And with the ‘Opposition’ promising not to balance the budget for a decade, Canada’s ‘leaders’ are showing they lack the will to cut spending and prevent a disastrous situation. It’s no secret that Canada has a serious debt problem. In the past year, our debt has surged, with the federal Liberal government rapidly expanding the size of government, propped up only by an historic expansion in the money supply as the Bank of Canada printed money at a stunning pace. And yet, even this massive surge in spending doesn’t capture the full depth of Canada’s debt crisis. As a recent Fraser Institute report reveals, when Canada’s ‘gross debt’ is considered, things are far worse: “The federal government continues to rationalize its debt-financed spending based on international comparisons showing Canada with the lowest level of debt in the G7. Of the two broad measures of debt, gross debt includes most forms of debt while net debt is a narrower measure that accounts for financial assets held by governments. By using net debt as a share of the economy (GDP), Canada ranks 11th lowest of 29 countries and lowest amongst the G7.

Notifications - Subscriptions
Notify of
2 Comments
Newest
Oldest Most Voted
Inline Feedbacks
View all comments

2
0
Would love your thoughts, please comment.x
()
x