Canadians paying $31 billion in surcharges on federal debt

[IronNoggin]

Canadians paying $31 billion in surcharges on federal debt

Canadians are paying over $31 billion in surcharges and interest payments on federal debt, a new report by the Parliamentary Budget Office (PBO) shows.

The PBO’s Economic and Fiscal Outlook for October found that the cost of debt servicing is expected to balloon to $47.6 billion as a result of “higher interest rates and the additional accumulation of federal debt.”

Canada’s federal debt reached $1.3 trillion this year following several massive pandemic budgets tabled by the Liberal government.

A recent report by the Fraser Institute found that 40% of federal deficits incurred during the pandemic “had nothing to do” with providing Canadians relief from Covid-19.

“Canadians may be surprised to learn that a significant percentage of Ottawa’s huge spending increases during COVID, which produced large deficits and much more debt, had nothing to do with the pandemic,” Fraser Institute senior fellow Livio Di Matteo said in a press release.

“As a result of Ottawa’s massive spending increase during the pandemic, the federal government will have a larger footprint in the Canadian economy now and for many years to come.”

Terrazzano said that with higher interest charges, the government will likely continue to go over budget.

https://tnc.news/2022/10/14/paying-31-billion/

[.264 Win Mag]

That’s what happens when the clown that runs this country doesn’t worry about fiscal responsibility or monetary policy

[leeaspell]

But the budget will balance itself......nothing to worry about

Sent from my SM-G781W using Tapatalk

[elkhunter11]

The government was elected , so obviously a lot of voters support this.

[traderal]

Originally Posted by elkhunter11

The government was elected , so obviously a lot of voters support this.

Yep and they will support the roll out of Digital I.D.'s, then amalgamation of everyone's bank accounts and assets, and voila, the national debt will be covered, so don't worry be happy living a minimalistic life style. The benevolent unelected WEF/UN has this covered.

[huntinstuff]

One tree -free
One rope- donated

[Zip]

Originally Posted by huntinstuff

One tree -free
One rope- donated

I got a horse you could use as well…when it’s slapped hard on rear end, the whole horse takes off at a fast run…just a thought🤷*♂️
Zip

[glen moa]

Who’s money is it?

[IronNoggin]

Originally Posted by glen moa

Who’s money is it?

It was yours, mine and every other tax paying citizen in Canada.

Then along came you know who...

Nog

[zabbo]

Originally Posted by elkhunter11

The government was elected , so obviously a lot of voters support this.

Darn right! Just hot the ones paying taxes!

[chasingtail]

Interest on money created out if thin air. Those that control the money supply control nations. 90% of the debt is interest in interest.

[lmtada]

Originally Posted by elkhunter11

The government was elected , so obviously a lot of voters support this.

Those voters are all located in Yukon, NWT, BC lower mainland, Southern Ontario, Toronto, Ottawa, Quebec City, New Brunswick, Nova Scotia, PEI, and Newfoundland. Big cities voting left. This is more rural vs Urban issue.

[elkhunter11]

Originally Posted by lmtada

Those voters are all located in Yukon, NWT, BC lower mainland, Southern Ontario, Toronto, Ottawa, Quebec City, New Brunswick, Nova Scotia, PEI, and Newfoundland. Big cities voting left. This is more rural vs Urban issue.

Some of these voters are in Alberta, both Edmonton and Calgary elected liberal MPs in the last federal election.

[Grizzly Adams1]

Originally Posted by elkhunter11

Some of these voters are in Alberta, both Edmonton and Calgary elected liberal MPs in the last federal election.

and Calgary got a cabinet minister out of that. He was just in town passing out some more of your and my money. "It will create a hundred jobs".

Grizz

[Bushrat]

Originally Posted by elkhunter11

Some of these voters are in Alberta, both Edmonton and Calgary elected liberal MPs in the last federal election.

Yes and if the left didn't split the vote between Liberals and NDP there would be few federal conservative seats anywhere but on the prairies.