this post was submitted on 08 Jul 2025
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The government took on debt the same as households, using low interest rates to lever themselves up. Now that rates are rising due to aging demographics we are forced to look at our debt burden.
This is why what Trudeau Sr did was stupid, and why what Trudeau Jr did was stupid, all that spending is future austerity. The only way its not is if you debase the currency further using QE, and you shift those bonds to the FX market via a depreciated currency, which ends up in even higher interest rates.
Not disagreeing the Trudeau jr years were awful financially, but not all spending is future austerity.
If spending results in higher revenue or higher income for Canadians, then that does pay a return. Infrastructure is expensive but it’s a great enabler of other commerce and economic activity.
But when the government takes on debt it does need to take that seriously for exactly the reasons you mention