Federal deficit balloons to $61.9B as government tables economic update on chaotic day in Ottawa

US runs trillions in debt and even if for a second we assume US is 100x size of Canada, we're still better off proportionally. Everybody, exhale. 😃

The federal government says the 2023-24 spike is due to one-time costs, including $16.4 billion related to Indigenous claims playing out in court and $4.7 billion related to the COVID-19 pandemic. The deficit is projected to dip down to $48.3 billion for this current fiscal year.

The document does multiple legal changes related to money-laundering that are meant to target organized crime in Iran, China and at home.

I'm curious what changes are being planned. I didn't see any other mentions of it when googling around.