Dear John,

Canada is in debt.

The federal government recorded a $327.7 billion deficit in 2020-21 and a deficit of $113.8 billion in 2021-22.

This is 27.8% larger than the deficit incurred in the aftermath of the 2008-09 recession, despite a strong recovery!

While there was some justification for emergency spending and deficits during 2020 and 2021, there is little or no justification for a $52.8 billion deficit in 2022.

It is almost always politically advantageous to spend now and pay later, but doing so unfairly punishes future generations, and so governments should be restrained in how they spend other peoples’ money.

Today, the Fraser Institute released two new essays which dive further into this topic. Check them out here [[link removed]], and be sure to share them on social media!

Sincerely,

Niels Veldhuis

President

The Fraser Institute

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