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You are paying for our governments’ debt addiction

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From the Fraser Institute

By Jake Fuss and Grady Munro

Ottawa and the provinces will together spend $82 billion on debt interest this year—equivalent to the total amount spent on K-12 education in Canada during 2020-21.

Budget season is approaching and while government debt has been increasing rapidly for years in Canada, today’s relatively high interest rates have made it more expensive to borrow money than in the recent past.

According to our new study published by the Fraser Institute, between 2007-08 and 2023-24 federal and provincial government net debt (i.e., total debt minus financial assets) has increased by roughly $1.0 trillion in inflation-adjusted dollars. Though pandemic-induced deficits explain part of that, fully 58 per cent of the run-up in debt occurred before COVID. That deserves emphasis: our current debt problems are not mainly the result of the pandemic.

Because both federal and provincial governments borrow—municipal governments not so much—Canadians face different government debt burdens depending on where they live. Newfoundland and Labradorians currently owe the largest combined (federal and provincial) government debt in Canada at $67,471 per person. Ontarians are not far behind at $60,609 while Albertans are in the best shape at $42,293.

In terms of debt-to-GDP ratios, the four Atlantic provinces are all currently above 85 per cent, which means it would take more than four out of every five dollars generated in the economy of each Atlantic province this year to pay off their combined federal and provincial debt.

Nova Scotians are worst off, with combined debt equivalent to 97 per cent of what their economy produces in a year. The national average debt-to-GDP ratio is projected to be 76 per cent this year, up significantly from before the pandemic.

Despite a surge in revenues, few Canadian governments are forecasting surpluses for the current fiscal year. Instead, Ottawa and the majority of provinces have chosen to increase their spending and debt and, in most cases, incur deficits for years to come.

This is a worrying trend, as many governments were already on unsustainable debt trajectories that they are now making worse. Governments need to restrain spending and move towards balanced budgets in the short term, while the economy is in relatively good shape, not put off difficult decisions for someone else to take at some future date.

Debt means always having to pay interest. Because their debts have grown and interest rates are higher than they have been for some time, Ottawa and the provinces will together spend $82 billion on debt interest this year—equivalent to the total amount spent on K-12 education in Canada during 2020-21.

Money that goes to interest can’t pay for tax cuts or spending on health care or education. It drives a wedge between the taxes we pay and the services we actually receive. And it burdens, not just today’s taxpayers, but future generations, too.

Growing government debt is not just another unpleasant COVID symptom. It was a problem well before COVID and it’s getting worse even though COVID is now mainly over. This budget season, our federal and provincial governments need to get their fiscal houses in order and stop their debt binging before it spirals even further out of control.

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Carney’s European pivot could quietly reshape Canada’s sovereignty

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This article supplied by Troy Media.

Troy Media By Isidoros Karderinis

Canadians must consider how closer EU ties could erode national control and economic sovereignty

As Prime Minister Mark Carney attempts to deepen Canada’s relationship with the European Union and other supranational institutions, Canadians should be asking a hard question: how much of our national independence are we prepared to give away? If you want a glimpse of what happens when a country loses control over its currency, trade and democratic accountability, you need only look to Bulgaria.

On June 8, 2025, thousands of Bulgarians took to the streets in front of the country’s National Bank. Their message was clear: they want to keep the lev and stop the forced adoption of the euro, scheduled for Jan. 1, 2026.

Bulgaria, a southeastern European country and EU member since 2007, is preparing to join the eurozone—a bloc of 20 countries that share the euro as a common currency. The move would bind Bulgaria to the economic decisions of the European Central Bank, replacing its national currency with one managed from Brussels and Frankfurt.

The protest movement is a vivid example of the tensions that arise when national identity collides with centralized policy-making. It was organized by Vazrazdane, a nationalist, eurosceptic political party that has gained support by opposing what it sees as the erosion of Bulgarian sovereignty through European integration. Similar demonstrations took place in cities across the country.

At the heart of the unrest is a call for democratic accountability. Vazrazdane leader Konstantin Kostadinov appealed directly to EU leaders, arguing that Bulgarians should not be forced into the eurozone without a public vote. He noted that in Italy, referendums on the euro were allowed with support from less than one per cent of citizens, while in Bulgaria, more than 10 per cent calling for a referendum have been ignored.

Protesters warned that abandoning the lev without a public vote would amount to a betrayal of democracy. “If there is no lev, there is no Bulgaria,” some chanted. For them, the lev is not just a currency: it is a symbol of national independence.

Their fears are not unfounded. Across the eurozone, several countries have experienced higher prices and reduced purchasing power after adopting the euro. The loss of domestic control over monetary policy has led to economic decisions being dictated from afar. Inflation, declining living standards and external dependency are real concerns.

Canada is not Bulgaria. But it is not immune to the same dynamics. Through trade agreements, regulatory convergence and global commitments, Canada has already surrendered meaningful control over its economy and borders. Canadians rarely debate these trade-offs publicly, and almost never vote on them directly.

Carney, a former central banker with deep ties to global finance, has made clear his intention to align more closely with the European Union on economic and security matters. While partnership is not inherently wrong, it must come with strong democratic oversight. Canadians should not allow fundamental shifts in sovereignty to be handed off quietly to international bodies or technocratic elites.

What’s happening in Bulgaria is not just about the euro—it’s about a people demanding the right to chart their own course. Canadians should take note. Sovereignty is not lost in one dramatic act. It erodes incrementally: through treaties we don’t read, agreements we don’t question, and decisions made without our consent.

If democracy and national control still matter to Canadians, they would do well to pay attention.

Isidoros Karderinis was born in Athens, Greece. He is a journalist, foreign press correspondent, economist, novelist and poet. He is accredited by the Greek Ministry of Foreign Affairs as a foreign press correspondent and has built a distinguished career in journalism and literature.

Troy Media empowers Canadian community news outlets by providing independent, insightful analysis and commentary. Our mission is to support local media in helping Canadians stay informed and engaged by delivering reliable content that strengthens community connections and deepens understanding across the country.

 

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EU investigates major pornographic site over failure to protect children

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From LifeSiteNews

By Jonathon Van Maren

Pornhub has taken down 91% of its images and videos and a huge portion of the last 9% will be gone by June 30 because it never verified the age or consent of those in the videos.

Despite an aggressive PR operation to persuade lawmakers that they have reformed, Pornhub is having a very bad year.

On May 29, it was reported that the European Commission is investigating the pornography giant and three other sites for failing to verify the ages of users.

The investigation, which comes after a letter sent to the companies last June asking what measures they have taken to protect minors, is being carried out under the Digital Services Act. The DSA came into effect in November 2022 and directs platforms to ensure “appropriate and proportionate measures to ensure a high level of privacy, safety, and security of minors, on their service” and implement “targeted measures to protect the rights of the child, including age verification and parental control tools, tools aimed at helping minors signal abuse or obtain support, as appropriate.”

According to France24: “The commission, the EU’s tech regulator, accused the platforms of not having ‘appropriate; age verification tools to prevent children from being exposed to pornography. An AFP correspondent only had to click a button on Tuesday stating they were older than 18 without any further checks to gain access to each of the four platforms.”

Indeed, Pornhub’s alleged safety mechanisms are a sick joke, and Pornhub executives have often revealed the real reason behind their opposition to safeguards: It limits their traffic.

Meanwhile, Pornhub — and other sites owned by parent company Aylo — are blocking their content in France in response to a new age verification law that came into effect on June 7. Solomon Friedman, Aylo’s point man in the Pornhub propaganda war, stated that the French law was “potentially privacy infringing” and “dangerous,” earning a scathing rebuke from France’s deputy minister for digital technology Clara Chappaz.

“We’re not stigmatizing adults who want to consume this content, but we mustn’t do so at the expense of protecting our children,” she said, adding later, “Lying when one does not want to comply with the law and holding others hostage is unacceptable. If Aylo would rather leave France than apply our law, they are free to do so.” According to the French media regulator Arcom, 2.3 million French minors visit pornographic sites every month.

Incidentally, anti-Pornhub activist Laila Mickelwait reported another major breakthrough on June 7. “P*rnhub is deleting much of what’s left of the of the site by June 30,” she wrote on X. “Together we have collectively forced this sex trafficking and rape crime scene to take down 91% of the entire site, totaling 50+ million videos and images. Now a significant portion of the remaining 9% will be GONE this month in what will be the second biggest takedown of P*rnhub content since December 2020.”

“The reason for the mass deletion is that they never verified the age or consent of the individuals depicted in the images and videos, and therefore the site is still awash with real sexual crime,” she added. “Since the fight began in 2020, 91% of P*rnhub has been taken down — over 50 million images and videos. Now a huge portion of the last 9% will be gone by June 30 because P*rnhub never verified the age or consent of those in the videos and the site is a crime scene.”

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Jonathon’s writings have been translated into more than six languages and in addition to LifeSiteNews, has been published in the National PostNational ReviewFirst Things, The Federalist, The American Conservative, The Stream, the Jewish Independent, the Hamilton SpectatorReformed Perspective Magazine, and LifeNews, among others. He is a contributing editor to The European Conservative.

His insights have been featured on CTV, Global News, and the CBC, as well as over twenty radio stations. He regularly speaks on a variety of social issues at universities, high schools, churches, and other functions in Canada, the United States, and Europe.

He is the author of The Culture WarSeeing is Believing: Why Our Culture Must Face the Victims of AbortionPatriots: The Untold Story of Ireland’s Pro-Life MovementPrairie Lion: The Life and Times of Ted Byfield, and co-author of A Guide to Discussing Assisted Suicide with Blaise Alleyne.

Jonathon serves as the communications director for the Canadian Centre for Bio-Ethical Reform.

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