Juno News - November 05, 2026


Ottawa’s $162-million-a-day debt bill—Where’s the accountability？

Canadian troops sent to Russian border Carney’s budget delivers another massive debt bomb

Episode Stats


Length

2 minutes

Words per minute

171.39

Word count

379

Sentence count

22


Transcript

Transcript generated with Whisper (turbo).
00:00:00.080 162 million that's how much ottawa is projected to spend every single day just servicing canada's
00:00:06.240 federal debt that's 59.3 billion a year and here's something that should get your attention
00:00:11.760 we're now projected to spend more servicing our federal debt than ottawa transfers to the
00:00:16.400 provinces and territories through the canada health transfer think about that for a second
00:00:21.200 we're spending more on debt charges than our main federal health care transfer and while canadians
00:00:26.720 are struggling to afford groceries, housing, and everyday necessities, Ottawa just continues
00:00:31.400 accumulating debt. And here's where the story gets more concerning. Finance Canada actually
00:00:36.840 commissioned research to find out what Canadians think about the federal deficit. And what did
00:00:41.780 they find out? The people that they interviewed actually barely paid any attention to it.
00:00:46.620 Many couldn't even connect the deficit to their own everyday lives. Now, this wasn't a national
00:00:51.680 poll it was only 73 people across 10 focus groups, but it does raise a pretty serious question. How
00:00:58.200 are Canadians supposed to hold the government accountable if they don't understand what it's
00:01:02.240 doing with their money? And look, I understand why people aren't paying attention. When you're
00:01:07.260 worried about your next mortgage payment or whether you can afford groceries, you're probably
00:01:11.300 not sitting at home analyzing the federal budget. But here's the problem. That interest bill is
00:01:17.220 money Ottawa has already committed to paying. Money that can't simultaneously be spent on
00:01:21.920 healthcare infrastructure or reducing taxes. And it's projected to keep growing. Now this Thursday,
00:01:27.860 Mark Carney's Liberal government is presenting its federal budget. And we already have some
00:01:32.120 concerning projections. The Parliamentary Budget Officer expects a $63.3 billion deficit this year.
00:01:39.100 Debt charges are projected to reach $83 billion annually by 2030. And the government's current
00:01:44.380 fiscal plan isn't expected to meet its own target for a consistently declining deficit to GDP ratio.
00:01:50.520 Those are the projections from Parliament's independent budget watchdog. So when you watch
00:01:55.460 Thursday's budget, don't just pay attention to the big spending announcements, ask yourself how
00:02:00.140 they're paying for them, ask yourself how much they're borrowing, and ask yourself what it's
00:02:04.540 going to cost future Canadians down the road. Because whether you pay attention to Ottawa's
00:02:09.320 finances or not, you're still living with the consequences.