Well, it depends on where these additional expenditures are going. If the increase in the deficit is due to higher expenditures, it depends on where they are going. One thing we can say for sure, though, is that when you have a higher deficit, other things being equal, it forces public debt charges to go up. That in good part is why we have seen public debt charges go from around $20 billion or $25 billion to $52 billion this year, expected to rise to $67 billion by 2029-30.
On December 3rd, 2024. See this statement in context.