Many economists warn about ballooning budget deficits and the potential for higher interest rates in the future.
Interest payments on the federal debt are expected to equal $20.2 billion in 2020/21.
This year's federal budget deficit will reach a projected $381 billion.
Ottawa annually pocketed $22 billion more in revenue from Alberta than it spent in the province.
A one percentage point increase in the effective interest rate would increase Ottawa's annual debt interest costs by $13.8 billion.
The Trudeau government will run a record budget deficit approaching $400 billion.
The Liberals ran three years of deficits totalling $51.9 billion, more than double the amount promised during the campaign.
Ottawa expects the federal deficit to reach $381.6 billion in 2020/21.
Eliminating the entire equalization program this year would reduce the federal deficit by only 5.4 per cent.