Dear John,

A new Fraser Institute study out today measures Ottawa's spending in the years leading up to the COVID pandemic.

It turns out that Canada was in far worse fiscal shape than necessary when COVID first hit!

Between 2015 and 2020 the government ran five consecutive deficits, adding over $112 billion to the federal debt.

During that period, federal program spending grew by 36%! Had that growth been restrained to match inflation and population growth, the government would have instead recorded surpluses nearly every year and avoided taking on all this new debt before COVID.

Dig into more numbers by checking out the full study here [[link removed]], and be sure to spread the word on social media.

Sincerely,

Niels Veldhuis

President

The Fraser Institute

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