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All questions relate to Canada 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...

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All questions relate to Canada

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 rekative postion?

ACC-933 Budgetary Issues
Answered Same Day Dec 25, 2021

Solution

Robert answered on Dec 25 2021
130 Votes
Question 1
The accumulated deficit of federal government in 2015 -16 is $616.0 billion.
Source: https:
www.fin.gc.ca/afr-rfa/2016
eport-rapport-eng.asp
Question 2
The accumulated deficit of the Ontario Provincial government in 2015 -16 is $193,447
million.
Source: http:
www.fin.gov.on.ca/en
udget/ontariobudgets/2016/ch3b.html
Question 3
The projected annual /deficit of the Federal Government in 2015-2016 is $ 620.4 billion
Question 4
The projected annual deficit of the Ontario Provincial government in 2015 -16 is $197,753
million.
Question 5
Ontario province population (2016 census) = 13,448,494 = 0.013448494 billion
Total deficit (Ontario + Federal Government) = 616 + 193.447 = $809.477 billion
Hence, per capita debt burden = $809.477/0.013448494= $ 60,190.9 or $ 60,191
Question 6
It is apparent from the above computation that there is a high amount of deficit that...
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