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Old 04-27-2012, 12:17 PM   #1
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Ottawa posted a small surplus of $1.5 billion in February, an encouraging sign the federal government is on track to soon eliminate its annual deficit.

The slight surplus was a reversal of the same month a year ago, when the Department of Finance says Ottawa posted a deficit of $600 million.

In any given 12-month period, government coffers can swing wildly between deficit and surplus, but Canada has been in an overall deficit position since 2008.

For the month, revenues grew by 5.2 per cent while program spending shrank by 3.6 per cent. It's the second consecutive month that Ottawa has taken in more than it spends.
http://www.cbc.ca/news/business/stor...t-surplus.html

That is with an economy that is apparently not doing as well as it could. Or maybe it is. Perhaps all the predictions are in fact wrong.

Either way, great news.
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Old 04-27-2012, 12:19 PM   #2
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Didn't even notice this from last month. Unless the numbers weren't released yet.

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The February surplus follows a $1.7-billion surplus in January. As a result, with just one month left in the current fiscal year, the 2011-12 cumulative deficit stands at $14.5-billion. That’s well below the $24.4-billion the government projected in its March 29 budget ($24.9-billion once new budget measures were factored in.)
http://www.theglobeandmail.com/news/...rticle2415852/

So we've got $3.2 billion in the bank from this year. What does the treasury actually do with the extra money?

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It is not clear why there is such a large difference between Finance Canada’s budget numbers and its monthly tracking numbers.
Promise small, deliver big? Certainly makes them look good.
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Old 04-27-2012, 12:38 PM   #3
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Well then, it's time to do like the average Canadian household - let's spend that bonus and then some! Harperbucks here we come!
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Old 04-27-2012, 01:19 PM   #4
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I am pretty sure that they only showed a surplus for two months but still have a deficit on the year. Canada's fiscal year runs from April 1st to March 31st each year so we still have a month to go, but they would have to show a surplus of 14.5 Billion more than projected on the month to end the year even. Still, hopefully the government can continue the trend and finish 2012 with a balanced account.
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Old 04-27-2012, 01:35 PM   #5
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Originally Posted by Azure View Post

So we've got $3.2 billion in the bank from this year. What does the treasury actually do with the extra money?
Fighter jets
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Old 04-27-2012, 02:26 PM   #6
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You dont really believe this do you? The Conservatives still have run the largest deficit in Canadian history!! Il believe it when I see it, they are all talk.
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Old 04-27-2012, 02:30 PM   #7
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Originally Posted by Canuck-Hater View Post
You dont really believe this do you? The Conservatives still have run the largest deficit in Canadian history!! Il believe it when I see it, they are all talk.
As a percentage of GDP not even close.
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Old 04-27-2012, 02:31 PM   #8
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Originally Posted by Canuck-Hater View Post
You dont really believe this do you? The Conservatives still have run the largest deficit in Canadian history!! Il believe it when I see it, they are all talk.
The extra ! was what really drove your point home.

How is claiming a surplus for individual 2 months a year, while still having a large deficit for the year, a claim that is totally absurd to you?


edit: The thing that really bugs me is people who turn stuff like this into a political issue. I am Canadian. I care about Canada and if there are some signs of an economic recovery that is good. I get the feeling like some people would be much happier if the country crashed and burned just so the party of their choice gets elected next time.
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Last edited by Rathji; 04-27-2012 at 02:36 PM. Reason: removed some inflammatory language
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Old 04-27-2012, 02:57 PM   #9
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What incredible is the deficit for the fiscal year could end up being half what they projected.

Could we possibly see a balanced budget, or dare I say a surplus next year?
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Old 04-27-2012, 03:04 PM   #10
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Kevin Page wrong again, big surprise.
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Old 04-27-2012, 03:05 PM   #11
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A 2 month surplus is fine and dandy, but the overall tone of the article and this thread is one of relief as if the budget is balanced and we can all get on with our happy little lives. The new crime bill hasnt been implemented yet (which will put a huge dent in the budget), and we already know that the Conservatives lied about the cost of the F35s so how can we all of the sudden trust their numbers? They are a dishonest group of over-privileged thugs. I just dont see how they can be praised for a 2 month surplus when you actually take a look at where the cuts are going. Lets wait and see before we start partying like its 2012.

http://www.huffingtonpost.ca/news/canada-budget-cuts
Do I take everything from this page as a gospel? No, but there is some valuable information.
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Old 04-27-2012, 03:09 PM   #12
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Kevin Page wrong again, big surprise.
What the hell do economists know anyhow?
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Old 04-27-2012, 03:47 PM   #13
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Originally Posted by GP_Matt View Post
I am pretty sure that they only showed a surplus for two months but still have a deficit on the year. Canada's fiscal year runs from April 1st to March 31st each year so we still have a month to go, but they would have to show a surplus of 14.5 Billion more than projected on the month to end the year even. Still, hopefully the government can continue the trend and finish 2012 with a balanced account.
Yeah, the deficit is still projected to be around $15 billion. Either way, still good news whenever you run a surplus month to month.
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Old 04-27-2012, 03:49 PM   #14
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What incredible is the deficit for the fiscal year could end up being half what they projected.

Could we possibly see a balanced budget, or dare I say a surplus next year?
The original projection was around $24 billion, what MIGHT actually be will be $14 billion, so if the numbers for next year are more or less the same, they might even have a chance of breaking even. Especially if the economy keeps getting bettter.
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