second take
GLOBE AND MAIL: Canada’s low rates will keep debt in check
Country will not pay off the debt, it will just watch as a growing economy dwarfs it
30 July 2020 - 15:38
This year the Canadian federal government will run a deficit guesstimated at $343bn. But interest rates are so low that, even though the national debt is increasing by nearly half to more than $1-trillion, Ottawa expects to spend $5bn less than last year on debt service.
Canada is borrowing more than ever and it is costing Canadians less than ever. In the worst recession since the Great Depression, that has been the silver lining...
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