Per capita debt has reached a historic high in Justin Trudeau's Canada, according to Blacklock's Reporter.
An individual Canadian's share of the federal debt is as high as $24 thousand. This means, as soon as a Canadian is born, they owe over 20 thousand to the government.
This is the first time in history that per capita debt has reached this high. It represents a 43 percent increase from the pre-pandemic rate.
"The federal net debt per capita was $24,074 at March 31," said a statistics Canada spokesperson. In 1997, this rate was much, much lower, and it triggered an austerity program.
"Fighting Covid has required extraordinary government spending," said Trudeau's finance minister. And yet, the Liberals continue to spend at pandemic levels.
The Trudeau government has pledged $78 billion in new spending over the course of the next five years. This is in addition to the $101 billion that the prime minister has already committed in his previous budget.
The poorest Canadians have also felt squeezed by inflation. Canada's inflation rate is expected to reach 5 percent.
On top of this, Canadians in a family of four are looking at a hefty increase in food prices for 2022, Canada's Food Price Report said on Thursday.
According to the report, those in a family of four will pay an extra $966 in food in 2022.
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