So much debt. So little to show for it.
Justin Trudeau’s time in office will be remembered as a ‘lost decade’ for Canada’s economy.
Despite an immense increase in our national debt, Canada has no economic growth to show for it on a per capita basis.
If not for unsustainable increases, we would be in a recession right now. And we are certainly in a per capita recession.
The average Canadian has been getting poorer for years now, which has brought our per capita GDP back down to 2014 levels:
Canada approaches a lost decade:
Real GDP per capita is now at 2014/2017 levels.
No economic growth on a per person basis in almost 8 years. No improvement in standard of living in the same time. pic.twitter.com/rjrTjNNswM
— Daniel Foch (@daniel_foch) August 30, 2024
And now – as noted by Daniel Foch (I encourage you to follow him if you have Twitter) – there is a record gap between Canadian and American per capita GDP:
Record spread between US and Canadian GDP per capita
Great chart from @phfloor pic.twitter.com/nhDtKfn8Km
— Daniel Foch (@daniel_foch) August 31, 2024
That’s what a lost decade looks like. And that will be Justin Trudeau’s ‘legacy.’
Spencer Fernando