#144 Debt interest = $1 billion/week
Welcome to Canada, where you pay a federal sales tax so Prime Minister Justin Trudeau can cover the interest payments on his government’s credit card. That’s literally what’s happening. Interest charges on Canada’s debt will be $54 billion this year. GST revenues will be $54 billion. On top of soaring interest charges, the federal budget includes massive deficits, a tax hike, the doubling of the national debt, and no plan to balance the budget. We break down what you need to know about the federal government’s 2024 Budget. All that and more in this week’s Canadian Taxpayers Podcast.
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Show Notes
Welcome to Canada, where you pay a federal sales tax so Prime Minister Justin Trudeau can cover the interest payments on his government’s credit card.
That’s literally what’s happening. Interest charges on Canada’s debt will be $54 billion this year. GST revenues will be $54 billion.
On top of soaring interest charges, the federal budget includes massive deficits, a tax hike, the doubling of the national debt, and no plan to balance the budget.
We break down what you need to know about the federal government’s 2024 Budget. All that and more in this week’s Canadian Taxpayers Podcast.