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Based on how he's bungled Canada's negotiations in the ongoing trade war with U.S. President Donald Trump, with his so-called "Elbows Up" approach in shambles, the premiers bickering with him and among themselves and negotiations at a standstill, there's cause for concern.
Under Carney's budget, the deficit more than doubles this year compared to 2024 to $78.3 billion, up from $36.3 billion last year.
This year, taxpayers will shell out $55.6 billion paying interest on the total federal debt of $1.35 trillion, more than Ottawa will spend on health-care transfers ($54.7 billion) to the provinces.
There's no plan to balance the budget for the foreseeable future and while the deficit is projected to shrink to $56.6 billion annually by 2029, the total federal debt in that year will be almost $1.6 trillion with interest payments on debt rising to $76.1 billion.