I’m surprised to see, looking at the Ministry of Finance’s website, that we’re still paying down the federal debt. I would have thought Harper’s GST cut and rising expenditures would have put the brakes on that. It’s an interesting picture. Most of the figures are projections, of course…
2004-2005
Revenues: $211.9B
Expenses: $210.5B
Debt reduction: $1.5B
Federal debt: $494.4B
GDP: $1,290B
Debt as % of GDP: 38.3
2005-2006
Revenues: $220.9B
Expenses: $212.9B
Debt reduction: $8B
Federal debt: $486.4B
GDP: $1,369B
Debt as % of GDP: 35.5
2006-2007
Revenues: $227.1B
Expenses: $223.6B
Debt reduction: $3B
Federal debt: $483.4B
GDP: $1,451B
Debt as % of GDP: 33.3
2007-2008
Revenues: $235.8B
Expenses: $231.4B
Debt reduction: $3B
Federal debt: $480.4B
GDP: $1,517B
Debt as % of GDP: 31.7
Some of this, like the annual GDP figures, may be wishful thinking. But still, what’s important to me is that we keep chipping away at the federal debt. Not to be smug, merely watchful, I have to remark that I find it a refreshing change from the Canada I knew growing up, and the alarming tendency in the United States right now; may Harper have the good sense not to jump on that bandwagon.
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Ah, yet another reason to like Canada. I see you're a native, not an expat. I'd like to get your perspective on Canada, since I'm wanting to immigrate there at some point (gotta save up lots of money first). My e-mail is on my profile information on my blog.
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