Re: OT: Canada Posts Whopping 13.8 Billion Surplus

On Sep 27, 9:47 pm, Andre Lieven <andrelie...@xxxxxxxx> wrote:
On Sep 27, 9:52 pm, Jill <aske...@xxxxxxxxx> wrote:

Andre, are you by any chance having a Canada vs. USA fight without me?

No, I'm just pointing out that doing it The American Way is not
fore-destined to be The Best Way for All.

Given how Canada is often MS-characterized as being " socialist ",
I was able to show that, in matters of economic success and
efficiency, our way can work as well, or even better, than the way
down south of here.

Canada enjoys such a strong economy *because* it's a neighbor of the
US, and profits from a robust trade, especially in energy exports.
Overall, just over 80% of Canada's exports are to the US. In
addition, the US is the largest foreign investor in Canada. So "the
Canadian Way" is really just good old-fashioned trade and investment.
Also, since Canada has nowhere near the geopolitical involvements and
responsibilities that the US has, there's nothing in that area to act
as an economic drag.

Unfortunately, the news about "the Canadian Way" with regards to
health care isn't anywhere near as good as the economic news.


LOL.

" Canada, a nation that does not work in theory... Only in
practice. " <g>





On Thu, 27 Sep 2007 14:36:29 -0700, Andre Lieven

<andrelie...@xxxxxxxx> wrote:
Thu Sep 27, 12:55 PM

OTTAWA (AFP) - Canada on Thursday announced a
budgetary surplus of 13.8 billion dollars for 2006-2007,
or one percent of Canada's gross domestic product,
Finance Minister Jim Flaherty said.

Total debt, meanwhile, fell to 467.3 billion at the end
of 2006-2007, and the federal debt-to-GDP ratio is
now "at its lowest level in a quarter century," at
32.3 percent, he said.

Combined with income from government-owned
corporations, Ottawa thus made its "the largest
debt payment in Canadian history," or 14.2 billion
dollars, Flaherty said at the unveiling of his
2006-2007 financial annual report.

The government of Canada spent 700 million less
than projected in Flaherty's March 2006 budget,
and revenues spiked unexpectedly, he explained.

Nevertheless, Prime Minister Stephen Harper
warned that "recent volatility in financial markets
needs careful management," Canada's forestry and
manufacturing sectors are facing "tough times,"
and there is "weakness" in some export markets.

"At the same time, strong growth in other areas is
driving up the cost of living," such as housing prices,
beyond what many can afford, he said.

So, "we have to keep our spending prudent, keep
reducing the debt, and keep lowering taxes for
individuals, businesses and families," Harper
concluded.
-------------------------------------------------------

Looking at the various numbers, we see:

The Canadian federal government budget is in surplus
now for 10 years. The national debt is shrinking. The
debt to GDP ratio, of course, is also shrinking.
The dollar is growing stronger and stronger; its now at
parity with the US $. Thats a far cry from the winter-
spring of 2003, when the Cdn dollar was worth 63.5
cents US.

Meanwhile, the US budget deficit is $434 billion.
The US national debt is $4 billion shy of $9 trillion.
The US debt-to-GDP ratio is around 65%.

One has to bear in mind that the US population is
almost 10 times bigger than in Canada. So, were
the Canadian national debt of $467 billion to be
expanded, to match the US population, the Canadian
debt would be about 9.5 time bigger, at $4.4 trillion,
which would be just under half the current US debt.

Numbers often are clear about what works...

Andre- Hide quoted text -

- Show quoted text -


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