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GOLDSTEIN: PBO says federal spending, borrowing and debt up, economic growth down
Parliamentary Budget Officer Annette Ryan released her economic and fiscal outlook for October this week, based on the spending of Prime Minister Mark Carney's government.
Heading into the feds' Nov. 5 budget, it's not pretty.
The general tone was summed up by the first sentence in her press release: "Federal spending, borrowing and debt continue to rise amid weaker economic growth" and it gets worse from there.
Among Ryan's findings:
Total federal government public debt is projected to rise from $1.3976 trillion this year to $1.6676 trillion in 2030-31.