The risks of a recession this year or next are real.
federal government spending
Per-person spending last year was only $72 short of the all-time high reached during the 2009 recession.
Program spending this fiscal year will reach $320.2 billion.
Federal program spending will reach a projected $321.5 billion next year—up 22.2 per cent since 2015.
The annual deficit from a recession could increase from its current level of $19 billion to almost $50 billion.
Only 10.6 per cent of the nearly $100 billion in new infrastructure spending is for trade and transportation.
The ratio of household net worth-to-GDP has risen over time.
Canada’s federal net debt will climb to $831.5 billion by 2022-23.
The budget proposes cumulative deficits totalling $72.8 billion over the government’s first mandate.