Thu Sep 19, 2024 – 12:28 pm EDT
OTTAWA, Ontario (LifeSiteNews) — Prime Minister Justin Trudeau has more than doubled Canada’s national debt, but Canadian’s quality of life has only decreased.
According to calculations from the Canadian Taxpayers Federation (CTF), Canada’s national debt has more than doubled since Prime Minister Justin Trudeau took power in 2015, reaching a total of $1.239 trillion.
“Canadians can’t afford another decade-and-a-half debt binge,” Franco Terrazzano, CTF Federal Director, said in a press release. “Trudeau needs to stop wasting so much money and balance the books, because it’s wrong to waste billions on debt interest payments.”
When Trudeau took office in November 2015, Canada’s federal debt was just $616 billion.
Despite this doubling of the national debt, the Trudeau government does not plan to balance the budget until 2040, according to supplementary data from the Parliamentary Budget Office (PBO).
Currently, every Canadian owes $31,000 of the debt, however, interest charges between now and the time the budget is balanced in 2040 will mean that the number is much higher. By 2040, interest charges on the federal debt will have cost taxpayers a whopping $847 billion, meaning each Canadian will owe an
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