The combined federal and provincial government debt in seven provinces has surpassed the value of all goods and services produced in those provinces. This not only impairs economic growth but also directly impacts our daily lives and living standards, as revealed by a new study published by the Fraser Institute.
Author Jason Childs says, “When government debt grows so high that it is larger than the entire value of the economy, not only does additional debt offer no benefit to growth, living standards stagnate.”
