According to projections, Ontario will spend more on debt interest than on post-secondary education this fiscal year.
According to projections, federal net debt will jump by more than $142 billion over the next five years.
Residents in all provinces already pay more than $550 per person annually on government debt interest.
B.C.'s net debt will reach a forecasted $88.8 billion by 2024/25.
Canadians aged 65 or older will comprise nearly 24 per cent of the population by 2040.
The province's massive budget deficit continues a trend that started well before the pandemic.
This year's combined projected federal and provincial government deficits total $234 billion.
This year, the 10 provinces are projected to run cumulative deficits of nearly $80 billion.
In Canada, government net debt has doubled from $1 trillion to $2 trillion.
Forecasts project a -5.1 per cent decline in the province's GDP.