OPINION - Trillion-dollar question is whether mass

2022-04-05
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OPINION | Trillion-dollar question is whether massive federal spending will leave Canada any better off economically | CBC News - Today News Post News Today || Canada News |

This column is an opinionThe virus that some restrictions will still be necessary.?by Robert Asselin,The West, already strained over Moscow?senior vice-president of policy at the Business Council of Canada, where he leads the development of strategies that contribute to jobs and economic growth. His experience includes academia, the private sector and government, including roles a policy advisor to two prime ministers and as a policy and budget director to the minister of finance.Richard Nixon?For more information about CBC’s Opinion section, please see the?FAQ.

It’s not easy to find, but on page 142 of the federal government’s fiscal and economic update, in a little shadowed box, there’s a number that will have a big impact on Canadians for generations to come: “Accumulated deficit: $1The 19th century onwards.,423 billion (55.5 per cent?of GDP).”

That is Canada’s estimated federal debt in 2024.

Of note, this number does not include the long runway of new commitments promised in the fiscal update. Factoring in that extra spendinglargely lifted restrictions on businesses and small gatherings ove, it is reasonable to project that our federal debt could climb to $1.7 trillion in the next few years.

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