CTF: Trudeau is sticking future generations with his spending bill
Canadian babies born on federal budget day 2021 had more than $28,000 of debt the moment they opened their eyes. That’s each Canadian’s share of the federal government’s $1-trillion debt. And it’s going up.
By the time those little ones blow out their candles on their fifth birthday, Ottawa projects their shares of the federal debt will be about $35,000 each.
It’s important to know why the debt is soaring. The pandemic caused federal revenues to drop by 11 per cent in 2020. But here’s the bigger part of the story: Ottawa’s spending shot up by 75 per cent.
Even worse, Prime Minister Justin Trudeau and Finance Minister Chrystia Freeland are using COVID-19 as a cover to increase government spending for years to come. By 2026, the feds are planning to hike permanent government spending by $100 billion more than it was pre-pandemic.