To Prime Minister Justin Trudeau and Finance Minister Chrystia Freeland:
The federal government has run deficits in 37 of the last 50 years, this has left Canada unprepared for the COVID-19 pandemic which has resulted in a federal debt of over $884 billion dollars.
The last Generational Accounting report from the C.D. Howe Institute warns us of unsustainable fiscal policies from governments of all stripes yet the federal government is on track to run deficits until 2040.
This costs the current generation of Canadians over $19.5 billion dollars per year in interest payments, but the tax burden of future Canadians will be even bigger.
We call on your government to put a stop to intergenerational theft, come up with a plan to rein in spending, and put forward a concrete plan to begin paying off our federal debt.