Canadians will learn Tuesday the entirety of the federal Liberal government's new spending plans, and how they intend to pay for them, when Deputy Prime Minister and Finance Minister Chrystia Freeland tables the 2024 federal budget.
That said I got the best intuition for inflation from Randall Wray’s intro to MMT. Truly insightful material. You can find several lectures of his on YouTube. Highly recommended.
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There’s always billions in new spending. It’s called inflation.
You should look at the quantity of money equation - https://www.khanacademy.org/economics-finance-domain/ap-macroeconomics/ap-long-run-consequences-of-stabilization-policies/money-growth-and-inflation/a/money-growth-and-inflation. Even the mainstream economic theory suggests that spending doesn’t necessarily mean inflation. And of course we have the humongous example of massive spending in Japan since 1990 that hasn’t triggered inflation for decades.
That said I got the best intuition for inflation from Randall Wray’s intro to MMT. Truly insightful material. You can find several lectures of his on YouTube. Highly recommended.
My dude we are literally spending 1 billion per week on interest right now. That’s more money than what goes into healthcare and education combined
About $750 million. But point taken.