tjhorton@csri.toronto.edu (Tim Horton) (11/24/88)
trivia@watcsc.UUCP (Dave Nuttall) writes: >One thing that people should look at, in my opinion, is that Canada has an >annual deficit of about 30 million ... 36 billion (1987) 33 billion (1988 projected) >while the States pick up over 1 billion dollars of additional debt last year. 155 billion (1988 projected) >Canada has around 25 million people while the USA comes up with 250 million >people. Therefore, the states with 10 times the people, has over 30 times the >annual debt. Per person, we'd be going into debt at a little more than twice the rate the Americans are. My figures are likely off on the second decimal place, ie. give or take 5 per cent, but quite a bit closer I think -- they certainly contain a little less than 100000% error. The accumulated deficit at the federal level (alone) should be somewhere in the neighborhood of $250 Billion in Canada (growing all the time), consuming somewhere between 30% and 35% of the annual budget in debt service costs. The largest slices of the remaining pie go to each of health, education, and social security sorts of expenditures, in that order. For instance, UIC "contributions" were only covering about half of the 11 Billion dollar UIC outlay a few years ago. (It's interesting to note that personal income tax accounts for only 44% of federal income, whereas sales and excise taxes generate an impressive 21%.)
36_5130@uwovax.uwo.ca (Kinch) (11/25/88)
In article <8811240727.AA18395@bloor.csri.toronto.edu>, tjhorton@csri.toronto.edu (Tim Horton) writes: > trivia@watcsc.UUCP (Dave Nuttall) writes: >>annual deficit of about 30 million ... > The accumulated deficit at the federal level (alone) should be somewhere in > the neighborhood of $250 Billion in Canada (growing all the time), consuming > somewhere between 30% and 35% of the annual budget in debt service costs. > The largest slices of the remaining pie go to each of health, education, and > social security sorts of expenditures, in that order. For instance, UIC > "contributions" were only covering about half of the 11 Billion dollar UIC > outlay a few years ago. > > (It's interesting to note that personal income tax accounts for only 44% of > federal income, whereas sales and excise taxes generate an impressive 21%.) Well at least this response (of what seemed to be several hundred) had something other to say than that the original poster was in error. I mean is it really necessary for every person who reads an inaccurate statement to post something? Mistakes can happen but I think that only one person need inform that person of the mistake. Lets save the bandwidth for CONSTRUCTIVE postings shall we? Kinch ( the man who does not know when to shutup! )