Tegan Hill and Jason Clemens: Trudeau policies—an economically dangerous déjà vu | National Newswatch
per-person in 2014 to an estimated $11,361 per-person in 2021 —the second highest level on record. Notably, Justin Trudeau recorded the highest levels of per-person spending to-date in 2018, 2019 and 2020. Similar to his father’s tenure, borrowing financed much of Justin Trudeau’s new spending. Indeed, Justin Trudeau has recorded a deficit every year since taking office while total federal debt has grown from $1.2 trillion in 2014 to $1.9 trillion in 2021—an increase of 51 per cent.
In both cases, higher spending by Ottawa accompanied by an expanded money supply led to increasing rates of inflation. For Pierre Trudeau, inflation reached more than 12 per cent by 1981. It took double-digit interest rates—which triggered a recession—to eventually break the Pierre Trudeau-era inflation and begin returning to price stability., the largest year-over-year increase since the early 1980s under his father’s government.
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