Ottawa posts $1.9B surplus for fiscal 2014-2015

[petros]

Did you guys read it?

Also, more recently:

In 2013-14, $7.1 billion in approved funding went unspent across government. The figure was $10.1 billion the previous year.

Harper's Secret Budget Cuts Undermine Canada's DemocracyÂ*|Â*Colin Kenny


And this is not including selling GM shares to fake this year's surplus.

Waste cuts? Really? You want the waste back?

Keep try or start crying.

 

[Locutus]

"balances books 1 year early"

Ottawa posts surprise $1.9B surplus, balances books 1 year early - National | Globalnews.ca

Bill Curry Verified account ‏@curryb

Trudeau says balancing in 2014-15 was a CPC "political goal" that contributed to Canada slipping into recession


the derp is strong in these left ones.

 

[darkbeaver]

We might have a balanced budget every year and still be in debt. The result being you just live one more year to pay more private taxes. The argument is about the relative comfort of debt slaves.

 

[IdRatherBeSkiing]

We might have a balanced budget every year and still be in debt. The result being you just live one more year to pay more private taxes. The argument is about the relative comfort of debt slaves.

That is the difference in the term deficit vs debt. In theory we should be running up surpluses and using the surpluses to pay off the debt.

 

[petros]

Don't confuse them. Debt repayment is in the budget.

 

[AnnaG]

Yes, but surplus could add extra repayment. Or do you think extra repayment is also in the budget?

 

[petros]

Some want the money blown, others want it to go to debt.

Do you spend all your income in your budget or squirrel some away using the money to make more money in investments?

 

[AnnaG]

Hubby has an income, I have play money. lol

 

[petros]

Good answer.

 

[AnnaG]

Yeah, we live off what he brings in and use some for investing. My profits are for vacations n toys n stuff.

 

[petros]

What would be the "fun money" on the national scale?

 

[AnnaG]

hhmmm?

 

[darkbeaver]

Don't confuse them. Debt repayment is in the budget.

He's not confused you ignored the "payoff".

 

[pgs]

Surprise surprise surprise.

The people of Canada are smart enough not to fall for your con game Harpo.

This reminds me a lot of his partner in crime in British Columbia. Gordo Campbell. After the election it magically all disappeared

I think you are mistaking Gordon Campbell for Glen ( about that budget, we need a little wriggle room ) Clark .

 

[JamesBondo]

Ottawa posts $1.9B surplus for fiscal 2014-2015

The federal government posted a surplus of $1.9 billion for the 2014-2015 fiscal year, according to final numbers from Ottawa released today.

The Department of Finance said the figure is a reversal of a $5.2 billion-deficit posted for the previous fiscal year.

In its recent budget, Ottawa was forecasting a deficit of $2 billion for 2014-2015. The surplus brings an end to a six-year streak of deficits, which began in the fiscal year that ended in April 2009.

The excess financial wiggle room inched Canada's debt-to-gross domestic product ratio down to 31 per cent for the year, from 32.3 per cent the year before.

But that figure doesn't include debts owed by various local, provincial and territorial governments across Canada. Including those figures, Canada's debt-to-GDP ratio rises to 40.4 per cent, which is still the lowest among G7 nations.

According the OECD, the average debt-to-GDP ratio for all G7 countries, when all forms of government debt are included, will be 86.8 per cent for the 2014-2015 fiscal period.

http://www.cbc.ca/m/news/business/fiscal-year-ottawa-surplus-1.3226969

Harper wins again!

 

[mentalfloss]

Economists agree the budget surplus is of no economic value.


Doug Porter, chief economist with BMO Financial Group:

“First, it’s not a huge shock, as the preliminary figures were pointing to a similar outcome. Second, the size of the improvement versus initial estimates is quite modest; a surplus of 0.1 per cent of GDP versus a deficit of 0.1 per cent – that’s almost rounding error from a financial market standpoint.


Jim Stanford, economist with Canada’s largest private sector:

“While the existence or disappearance of a small deficit is economically irrelevant, the means by which the budget was balanced is important. In the Conservative government’s case, this was accomplished through a sustained, premature, and damaging fiscal tightening that began shortly after the government received its majority mandate in 2011. Real, crucial public services have been damaged by this austerity: services ranging from Coast Guard bases to veterans’ offices to Statistics Canada to food and railway safety inspections.

“This small surplus does not represent a ‘triumph.’ It represents the extent to which Canadian economic policy has been subverted to short-term political calculus.”


Craig Alexander, vice-president, economic analysis with the C.D. Howe Institute:

“From an economic point of view, it really didn’t matter whether Canada balanced in 2014 or 2015 or 2016 because the size of the projected deficit was very, very small relative to the size of the economy, so it wasn’t dramatic … It was in fiscal year 2014 and what really matters now is 2015.

Three economists on balancing the federal budget | Ottawa Citizen

 

[Locutus]

Lol.

 

[petros]

Pathetic try to spin a surplus into a bad thing.

“From an economic point of view, it really didn’t matter whether Canada balanced in 2014 or 2015 or 2016 because the size of the projected deficit was very, very small relative to the size of the economy, so it wasn’t dramatic

Wasn't dramatic? Ohhhh there was no shortage of leftie drama.

 

[mentalfloss]

You clearly can't handle the truth bombs.

 

[JamesBondo]

Economists agree the budget surplus is of no economic value.


Ha-ha you are talking like a bitch****ter.