Canada's Run Away Covid Spending

Canada's Covid spending is out of control. Already reported at world leading 12% of GDP (see: Huffington Post ) further information is either unsettling or non-existent.

The Parliamentary Budget Office has basically given up costing programs claiming they lack budget from Trudeau Liberal Government. PBO last updated Program spending estimates on April 30th.

The Canada Emergency Response Benefit (CERB) program - $500 / week - has millions more claimants than predicted and has already reached expected budget of $35B as of May 14th.

Programs continue to expand. For example, the Canada Emergency Business Account - $40,000 loans to small business - has expanded to include unincorporated businesses. The Canada Emergency Wage Subsidy (CEWS) - pays 75% of wages with 30% Revenue drop - has been extended through the summer.

Runaway Federal spending is especially disconcerting as Canada has the most indebted Sub-Nationals in the world.

Update! Canada's Covid measures approaching 20% of GDP - behind only Japan.