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5 Things to Know Today — June 24, 2026

  Your quick Canadian personal finance briefing — markets, rates, inflation & more. 1  |  Markets TSX Under Pressure Mid-Week as Base Metals and Tech Slide X Composite is tracking lower Tuesday, weighed down by losses in the base metals and technology sectors. The index had bounced back Monday, closing at 35,002 — up 0.4% — as investors assessed progress in U.S.-Iran peace talks and Canada's May inflation print. Oil prices eased on hopes that Strait of Hormuz shipping lanes could gradually reopen, providing some relief on the energy-inflation front. Banking stocks remain a relative bright spot after last week's regulatory capital news (see #4 below), with RBC and BMO each posting gains of more than 1% earlier in the week. 2  |  Inflation May CPI Climbs to 3.2% — But Core Inflation Stays Tame Canada's annual inflation rate rose to 3.2% in May , up from 2.8% in April and above the market consensus of 3.0% — the highest headline reading since September 2023. Ga...

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A Comprehensive Approach to Addressing the US Debt Problem

 

The US debt problem is a complex issue that requires a multi-faceted approach to solve. While closing the $688 billion tax gap is a step in the right direction, it is not a panacea for the US debt problem. According to a recent article by AOL, even if the IRS achieves a 100% collectible rate and closes the estimated $688 billion tax gap, that won’t be enough to meaningfully shrink the US debt gap. The article suggests that the US government needs to focus on other areas such as reducing spending, increasing revenue, and improving economic growth.

The US debt problem is a critical issue that requires immediate attention. The current debt-to-GDP ratio indicates that current policy under this report’s assumptions is unsustainable. If lawmakers fail to take action soon, the report projects that the federal debt could “exceed 200 percent [of GDP] by 2046 and reach 566 percent by 2097”. To stabilize the federal debt at current levels, the Financial Report estimates that the government will have to run “primary surpluses” equal to 0.6 percent of GDP, 4.9 percentage points higher than current projections, between 2023 and 2097 .

Therefore, it is imperative that the US government takes a comprehensive approach to address the debt problem. The government should focus on reducing spending, increasing revenue, and improving economic growth. A balanced approach that includes a combination of these measures is necessary to address the US debt problem.

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