Trudeau government raises federal debt to $1.45 TRILLION
The debt ceiling will be surpassed by 24 percent this year, with the debt ceiling having been set just three years ago under the Borrowing Authority Act.
The senate on Friday is consenting to Trudeau government legislation that will push Canada's federal debt over an eye-watering $1 trillion.
Among developed nations, Canada's debt levels have been some of the highest during the coronavirus pandemic, as household debt continues to rise.
According to the latest MNP Consumer Debt Index published today, 50 percent of survey respondents answered that they were within $200 of being unable to pay their bills.