The research organization, C. D. Howe Institute, is sounding alarm bells over the free-wheeling spending of the Trudeau Government. In an intelligence memo, C.D. Howe says Ottawa’s net debt is headed for the previously inconceivable level of $1 trillion. The memo says, “However necessary and welcome the federal government’s transfer payments and credit-market supports may have been on the way into the COVID-19 crisis, it is becoming clear that we cannot afford this level of spending for as long as the coronavirus maybe with us.” It says that Ottawa needs to reign in its spending and borrowing. Howe says provinces are also borrowing and by mid-decade, they will be looking for tax room to meet these demands. That is why $1 trillion in federal debt is a problem.