Well thats true, but as you can see the govt spending by Trudeau as a % of GDP was not out of line with Harper, except for Covid. And its headed steeply down since.
% of GDP has become the calling card of the so called modern economic theory
it is a flawed measure as
#1. It is a ratio and will increase quickly in a recession as borrowing increase and GDP declines
#2 it does not account for the cost of borrowing money
#3 it ignores inflation
#4 it does not account for the debt of the provinces
it is a bullshit metric which has been used by the loonie left to justify irresponsible spending and borrowing
try this instead
last years federal budget deficit was $62 B
That is $1,500 per Canadian
or $6,000 for a family of 4
the moron borrowed $6K in your families name last year after taking your hard earned tax dollars
And his is over and above what they already extracted for Canadian Families via income tax, sales tax, carbon taxes and a myriad of other taxes they collected
Then there is provincial taxes and municipal taxes
Canada's total debt, or gross debt, was $3,036 billion in 2023. This is made up of the federal government's debt and the debt of provincial, territorial, and local governments (PTLG).
Canada GDP is at a current level of 3.078T,
the real debt to GDP is closer to 100% , which is insanely irresponsible
Canadians are the most taxed nation in the G7
and irresponsible govts have borrowed trillions over and above after squeezing every last dime out of Canadians via taxation
This insanity has to stop
it will crash and the crash will be devastating