By 2030, the Liberals are projected to have accumulated $1 trillion in debt since coming into power in 2015.This is a statistic pointed out in the House of Commons by Conservative MP for York Centre, Roman Barber.Barber's point is reflected in the debt projections recorded in the feds' 2026 Spring Economic Update (SEU) showing Canada will fall into more than approximately $1.6 trillion in debt by the 2030-2031 fiscal year.As it stands, in the recorded 2024-2025 fiscal year, Canada is already $1.26 trillion in debt, and by the end of 2026, is estimated to surpass $1.3 trillion..Back in 2015, when the Liberals took power and Justin Trudeau was first elected, the debt was reported to be over $612 billion.Since then, and projected through 2030, the Liberal government will have accumulated over $1.62 trillion — that's over $1 trillion spent in one single decade."The Liberal trillion dollars of new debt means less growth and less jobs," stated Barber at question period earlier this month."In April, Canada lost 18,000 jobs and the unemployment rate is up — in the first four months of this year Canada lost 111,000 full-time jobs."."Youth unemployment is at 14.3%, and young Canadians can't afford rent, groceries, or homes — now they can't even find a job."Speaking of unemployment, according to the SEU, the overall unemployment rate in 2025 was 7%, and by 2030 is only expected to decline to 6.4%.
