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Dear John,
Before the COVID pandemic, federal spending increased faster than population and inflation, which led to a string of large budget deficits that have contributed to an estimated $941.9 billion increase in gross federal debt from 2014 to 2024.
But a new study published by the Fraser Institute today finds that the federal government could actually balance its budget in one or two years, with only modest spending restraint.
For instance, slowing the growth in nominal program spending to 0.3% would result in a balanced budget by 2026/27. And a reduction in spending of just 4.3% would balance the budget in 2025/26!
Check out the full study here, and be sure to share this news on social media.
Sincerely,
Niels Veldhuis
President
The Fraser Institute
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