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1. What is the accumulated surplus/deficit of the Federal government? 2. What is the accumulated surplus/deficit...

1. What is the accumulated surplus/deficit of the Federal government? 2. What is the accumulated surplus/deficit of the Ontario Provincial government? 3. What is the projected annual surplus/deficit of the Federal Government? 4. What is the projected annual surplus/deficit of the Ontario Provincial Government? 5. Calculate the per capita benefit (if surplus) or debt (if deficit), for each citizen of Ontario of the combined accumulated surpluses or deficits of both the Federal and Ontario Provincial Governments. (Show your calculation) 6. What are the implications to the citizens for the future, of the surplus or deficit? 7. If you indicated a surplus, recommend and explain a proposal you would proffer as to how each citizen in Ontario receive the benefit? If you indicated a deficit recommend and explain a proposal you would proffer as to how each citizen would pay for their personal portion. 8. Calculate the comparable per capita amount for the United States. Briefly, are Canadians in a better relative position?

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Answer #1

1) The accumulated deficit is the difference between the Government’s total liabilities and its total assets. The Accumulated surplus is the difference between the Government’s total assets and its total liability.

2) Accumulated Deficit for Ontario Provincial Government is $193.5 billion. Reference https://www.ontario.ca/page/public-accounts-2016-17-annual-report .

3) Projected annual surplus/deficit for FY 2017-18 is $19.9 billion. Refer https://www.ctvnews.ca/politics/federal-economic-outlook-improves-deficit-projected-at-19-9b-in-2017-18-1.3646888

4) The projected annual surplus deficit is $600 million. Reference https://www.fin.gov.on.ca/en/budget/finances/2017/ofin17_3.html

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