The debt of Canada's Federal government hit $1.34T, up 87% in 5 years! 📈
Even acknowledging that COVID-19 significantly drove this increase, five points stand out:
• Post-COVID, the debt continues to surge, increasing by over $100B in the last two years.
• The rapid rise of government debt, much faster than GDP growth, is alarming!
• Taxpayers will inevitably bear the burden of this debt interest, despite arguments that government debt differs from personal debt.
• Government deficits have contributed to the inflation.
• It's likely that most of these bonds and notes will be refinanced at higher rates.
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