Recently, we published a primer about INFLATION. The Fraser Institute, a Canadian think tank, writes in depth analysis about Canada’s economy.
It has stated that the growth of government debt in Canada since the 2008/09 recession and the fiscal challenges it poses for the federal and provincial governments. The author explains the purpose of the article, which is to examine the debt levels across Canada, compare the differences among the provinces, and quantify the burden of debt for Canadian citizens. The author also provides a summary of the main findings, such as the doubling of net debt in 15 years, the variation in debt-to-GDP ratios and debt per person among the provinces, and the consequences of interest payments on public finances.
A site visitor has added their perspective:
Canada’s national debt has doubled in past 15 yrs.
Debt in Ontario is almost $60K per living person.
(Factor that by the fact that abt 60% of the population is working and paying taxes and the debt per taxpayer is closer to $100K per person.)
Debt continues to increase as all levels of government continue to run annual deficits.
(Consider the cost to finance the debt will increase with the higher interest rates.)