Will be nice for us to finally see an actual budget. Going to be a #### sandwich but it's going to be a long road try to fix this gongshow that's been building for so long.
How much of every dollar are we spending on just interest payments alone now?
https://www.bnnbloomberg.ca/business...e-fiscal-path/
Stupefying," “shocking” and “unsustainable” -- those were just some of the words Ottawa’s fiscal watchdog used Thursday to describe his scathing forecast for federal finances ahead of a long-anticipated fall budget.
Interim Parliamentary Budget Officer Jason Jacques published an updated economic and fiscal outlook on Thursday where he projected the federal deficit would balloon to $68.5 billion this year, up from an estimated $51.7 billion last year.
He also expects the federal debt-to-GDP ratio -- previously a major fiscal anchor for Ottawa -- will no longer decline in the coming years.
Based on public statements from federal officials, spending plans announced over recent months and a weakening economy in the U.S. trade war, he said the path for federal finances appears broadly “unsustainable.”
“I think everybody should be concerned,” Jacques told MPs on the government operations and estimates committee.