The federal government projects a $52.8 billion budget deficit for 2022/23.
Federal debt interest will cost a projected $42.9 billion in 2026/27.
Ramping up interest rates at this juncture places more of the burden of fighting inflation on consumers.
The Trudeau government plans to implement new spending programs including national childcare and pharmacare.
At $2,055 per person, the province's government debt burden is the highest in Canada.
Interest payments on the federal debt are expected to equal $20.2 billion in 2020/21.
By 2023/24, debt interest will consume 6.6 per cent of all provincial revenues.
According to budget forecasts, debt interest payments will reach $3.3 billion by 2023/24.
The federal government has seemingly ditched the debt-averse approach that largely prevailed in Ottawa since the mid-1980s.