In reality, Canada’s government debt is high relative to other comparable countries.
Since 2014/15, federal government debt interest costs have nearly doubled.
By the end of this fiscal year, the federal government will have racked up $591.9 billion in debt since 2015.
According to forecasts, Ottawa's annual debt interest costs will eclipse $50 billion by 2028.
According to forecasts, the federal deficit will eclipse $40 billion this year.
Rising interest rates will put additional pressure on federal finances.
Federal debt interest costs will reach a forecasted $43.9 billion in 2023/24.
Canada's gross government debt is equal to 111 per cent of the country's GDP.
By 2028, the federal government will add a projected $131.8 billion in debt.