Under the rule of the Trudeau Liberals the national debt has doubled to $1.2 trillion from the $612 billion from when they first took power in 2015 and is growing by almost $4 billion per month and $10 million a day. This is more real than talking about deficits, which not only don't tell the whole story, they don't tell any of it.
Pierre Trudeau ran up massive debts that were 10 times what they were when he took office which nearly bankrupted the country and took 30 years for the economy to recover. Like father, like son, the present debt that the government of Justin Trudeau has accumulated will be borne by future generations far into the future. And there is no plan to reduce it.
In the 2023 the federal government will spend $44 billion just on the interest charges on the debt, which is 9% of total expenditures. The real uses that this money could be spent on for health care, improvements in infrastructure like highways, airports and bridges, or reduction in taxes is mind-boggling. And the jobs and prosperity that this would generate in the economy would also be the result of money spent on actual real things rather than just servicing the debt. Can you say out of control?
One area of money going down the drain is the federal public service that has increased by 40% and almost 100,000 employees during Trudeau's time in office. The payments for salaries, bonuses and pensions went from $40 billion in 2015 to $60.7 billion in 2022. The settlement of the recent strike will cost $1.3 billion per year largely paid for by everyone else, most of whom don't enjoy the benefits and perks of government employees.
Federal government executives were paid $1.3 billion in bonuses between 2015 and 2022 even though many of the performance targets, which the bonuses are supposedly based on, were not met. Lower lever employees were also paid bonuses totaling millions of dollars. The annual cost to taxpayers for these bonuses increased by 46% since 2015 when Justin's reign began.
See what the national debt is in real time on the Canadian Taxpayers Federation website.