Canada’s 2025 federal budget just changed the rules—and your bill. Mike Wixson and Paul Micucci unpack how a record $78.3B deficit, a higher $2.54T debt ceiling, and a shift to accrual accounting actually work, using a simple “two buckets” model you’d use at home or in a small business. Clear, plain-English breakdown—no spin.

What you’ll learn:

• The “Bucket 1 vs. Bucket 2” model: operating deficit vs. capital spending

• Why the accounting switch (cash → accrual) changes how numbers appear

• Where revenue growth comes from (personal, corporate, GST/excise, EI)

• The biggest expense drivers (health transfers, seniors’ benefits, debt interest)

• How much new financing is required and why project ROI now matters

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• (00:00:00) - Federal Budget 2021
• (00:01:46) - Going Through the 2025 Budget
• (00:07:01) - The Gross Profit and Loss Statement
• (00:07:26) - Canadians Pay More Income Tax in 2019-2027
• (00:09:32) - Canada's Budget 2021: Non-resident Taxation
• (00:14:15) - GST and other revenue projections in the Budget
• (00:18:37) - Ontario budget: Spending on seniors, unemployment insurance
• (00:22:22) - Canada's spending on children is increasing
• (00:27:40) - Government Spending in the 2024 Budget
• (00:32:35) - Government Pension Spending vs. US
• (00:34:31) - Canada's Budget 2018
• (00:41:19) - Economy's budget deficit
• (00:42:05) - Canada's Budget: Spending and Accountability