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RE:RE:RE:Youngins - Something to Think About

[Torontojay]

Hi Jx7000, Ottawa spent $11.3 billion in interest payments alone in the third quarter of 2023. 
 

According to StatsCan, the net deficit from the Federal Government is $1.19 trillion. They have $1.69 trillion in interest bearing debt as of October 2023. 

“Over the quarter, federal government devoted 10.1 cents for every dollar of revenue to the payment of interest,” the Statistics Canada report said. The provinces and territories on average paid 7.7 cents out of every revenue dollar toward debt interest.
 

The ratio of interest expense to federal government revenue rose “significantly” over the year, from 7.9 per cent to 10.1 per cent, it said.

 

Former Bank of Canada governor David Dodge had proposed a 10 per cent ratio as a fiscal guardrail which would keep debt service charges below one-tenth of revenue, but this report from Statistics Canada means the government has already blown through the hypothetical guardrail.

https://nationalpost.com/news/politics/interest-costs-for-federal-debt-soar-to-new-highs/wcm/656b2166-69da-4a54-8cf3-7177dbcac097/amp/