Canada's 2002-03 Surplus Close to C$7 Billion-Source

[2pac Shakur]

OTTAWA (Reuters) - Canada's budget surplus for the fiscal year ended March 31 was almost C$7 billion ($5.3 billion), more than double previous government forecasts, a federal official said on Tuesday.



"It's close to C$7 billion," the official said when asked what the 2002-03 fiscal year's surplus would be.


Finance Minister John Manley told reporters he plans to issue last year's audited annual financial report Wednesday.


In February's budget, Ottawa forecast a 2002-03 surplus of C$3 billion and because that year is over, the surplus must be used to pay down the C$507.7 billion federal debt.


Last year's larger-than-forecast surplus is likely to renew calls by provincial finance ministers for more health-care money this year. They met with Manley earlier this month to press their case for extra health funds.


Ottawa has promised up to C$2 billion more to help shore up the provinces' cash-strapped public health systems if the surplus exceeds its C$3 billion contingency fund but Manley last week said that there was "some risk" it may not.

http://story.news.yahoo.com/news?tmp..._surplus_col_3

U.S. Deficit Hits $374.2B, Setting Record
Mon Oct 20,10:46 PM ET Add White House - AP to My Yahoo!


By ALAN FRAM, Associated Press Writer

WASHINGTON - The federal deficit soared to $374.2 billion in 2003, the White House said Monday, a record total that more than doubled last year's red ink and looked like a prelude to even gloomier numbers.



Because the shortfall marked an improvement from a $455 billion projection the White House made in July, Bush administration officials cited it as evidence that their attempts to fortify the weak economy were working.

http://story.news.yahoo.com/news?tmp...dget_deficit_9

[MountainHawk]

Pretty easy to meet a budget when another nation pays for your defense...

[Basso]

Originally Posted by 2Pac Shakur

What a surprise...we collected too much money last year, so lets spend MORE money this year, not...lets not collect as much this year....

Typical.

[2pac Shakur]

Originally Posted by MountainHawk

Pretty easy to meet a budget when another nation pays for your defense...

And no terrorist attacks on Canada.
Maybe we should use that strategy.
Oh wait, the goal isn't to keep citizens safe. It's to make money. That's right.

[The Diabolical Biz Markie]

Oh no...people are going to start flocking towards the Canadian socialist utopia in droves...what will we do?

We'll have to put up a wall pretty soon, to keep all our people from fleeing to the workers paradise of Canada.

[The Diabolical Biz Markie]

Originally Posted by 2Pac Shakur

And no terrorist attacks on Canada.
Maybe we should use that strategy.

Come to think of it...I don't think that Samoa had any terrorist attacks last year. Or New Zealand.

Clearly they are doing something right.

[Pseudolus]

Originally Posted by MountainHawk

Pretty easy to meet a budget when another nation pays for your defense...

...and pharmeceutical R&D.

[2pac Shakur]

Originally Posted by Shekky Tree

Come to think of it...I don't think that Samoa had any terrorist attacks last year. Or New Zealand.

Clearly they are doing something right.

Or we are doing something wrong.
But we only look at results when they mean closing down a social program, right?
Like education?

[2pac Shakur]

Originally Posted by Pseudolus

...and pharmeceutical R&D.

.... and pharmaceutical advertising (twice as much as R&D)

[The Diabolical Biz Markie]

Originally Posted by 2Pac Shakur

Or we are doing something wrong.
But we only look at results when they mean closing down a social program, right?
Like education?

We are closing down education?

No...I think you mean you are closing down "gummint education"...or at least, we'd like to.

Believe it or not, the technology to teach children is not a gummint patent.
Children will be taught...just not by bureaucrat automata. They will be taught by good God-fearing Christians who will indoctrinate all your children into the correct way of thinking....mwaaa haaa haaa