The federal deficit is now about $19 billion.
federal government debt
Federal program spending will reach a projected $321.5 billion next year—up 22.2 per cent since 2015.
According to recent estimates, the government won’t achieve a balanced budget until 2045.
The annual deficit from a recession could increase from its current level of $19 billion to almost $50 billion.
Over a ten-year period, Canada’s general government gross debt rose from 69 per cent to 87 per cent.
Trudeau expected to increase per-person federal debt by 5 per cent by 2019.