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Budget surpluses reduced the country's borrowing needs

by JP Bill / April 7, 2006 2:48 PM PDT
Canada Scraps Two Bond Sales as Borrowing Needs Dip (Update4)

April 7 (Bloomberg) -- Canada canceled two bond sales planned for the fourth quarter of this fiscal year after eight straight budget surpluses reduced the country's borrowing needs.

Rising oil and commodity exports have led to record corporate profits and cut the unemployment rate to a 32-year low, making Canada the lone Group of Seven nation with a balanced budget. That's allowed the country to cut its annual debt sales by 44 percent in the past decade, to about C$31 billion ($27 billion) this year.

Canada's finance department in November projected a budget surplus of C$7.2 billion for this fiscal year. By contrast, the U.S. Office of Management and Budget on Feb. 6 estimated a 2007 deficit of $354 billion.

Canada's government bonds dropped, after the jobs report today pointed to faster economic growth. The benchmark two-year bond yield rose 7 basis points to 4.13 percent at 4:15 p.m. in Toronto.


Devil
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(NT) (NT) Not nice to tease the disadvantaged JP.But it is fun !
by Ziks511 / April 7, 2006 4:50 PM PDT
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Who is disadvantaged?
by Evie / April 7, 2006 9:45 PM PDT

Our economy is doing quite well too thankyouverymuch.

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Canada's GNP
by duckman / April 7, 2006 11:02 PM PDT
In reply to: Who is disadvantaged?

is about four of our largest states?

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And the deficit in the 4 largest states
by JP Bill / April 8, 2006 12:43 AM PDT
In reply to: Canada's GNP
STATE BUDGET DEFICITS
FOR FISCAL YEAR 2004 ARE HUGE AND GROWING


States are facing budget deficits in the range of $70 billion to $85 billion for state fiscal year 2004, which begins in most states July 1, 2003. The deficits represent between 14.5 percent and 18 percent of all state expenditures.

These new deficits are on top of the $50 billion in deficits that states closed when they enacted their fiscal year 2003 budgets. The new deficits for fiscal year 2004 are also on top of at least $17.5 billion in additional deficits that have opened up in 2003 budgets since those


Are these your "4 largest states"? CA, NY, FL, TX
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Regardless of whom Rob thinks is "disadvantaged"...
by EdH / April 8, 2006 11:43 PM PDT
In reply to: Who is disadvantaged?

note that he finds it fun to tease them!

Those compassionate liberals!

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Good catch there Ed!
by Evie / April 9, 2006 12:11 AM PDT

Kind of sad, actually.

Evie Happy

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He's mentioned doing that before. As I recall, he thought it
by Kiddpeat / April 9, 2006 5:40 AM PDT

was very stimulating to ridicule a customer in a music store whom he disagreed with. I guess his learning motor is in low gear.

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Yeah...Uh Huh...''disadvantaged''. That's why...
by Jack Ammann / April 8, 2006 8:18 PM PDT

...all them ''illegals'' are crossing our borders...From the south, they just scamper on through the USA and settle in Canada. And from the North, they just scamper on through and settle in Mexico. And the ones that ''scamper'' from the USA to Canada just seriously BEGS the question, ''Oh, another deserter, Huh?''

May God continue to bless the United States of America.

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And still
by Glenda / April 10, 2006 10:24 AM PDT

you claim to be a citizen of the USA! Hypocritical is my view, Rob:(

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The saame thing happened here under Clinton when Dems

at least controlled the Senate -- we just ssued our first 30-year bonds in about 8 years. Yet some here still claim that the budget surplus that allowed that to happen didn't actually exist -- revisionist history that would have made George Orwell proud!

-- Dave K, Speakeasy Moderator
click here to email semods4@yahoo.com

The opinions expressed above are my own,
and do not necessarily reflect those of CNET!

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Surplus was always projected Dave ...
by Evie / April 7, 2006 9:45 PM PDT

... so for ANYONE to claim it ever existed is PURE fantasy.

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To DK, fantasy is reality. It really does happen this way
by Kiddpeat / April 8, 2006 10:04 AM PDT

sometimes.

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Au contraire, Evie. I've already posted the link here
by Dave Konkel [Moderator] / April 8, 2006 11:35 AM PDT

to a 1999 GAO report showing a surplus for the years 1999 and 2000 -- what was PROJECTED was that the surplus would continue to grow, but Bush's ill-advised tax cuts for the rich and war of personal revenge on Iraq trashed that possibility irrevocably.

-- Dave K, Speakeasy Moderator
click here to email semods4@yahoo.com

The opinions expressed above are my own,
and do not necessarily reflect those of CNET!

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Dave,
by duckman / April 8, 2006 9:36 PM PDT

for someone that is educated, how many times does it have to be shown to you, WHO pays taxes? "Tax cuts for the rich" only embarrasses you.

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And the nonsense line ...
by Evie / April 8, 2006 9:40 PM PDT
In reply to: Dave,

... about Iraq now being a war of revenge makes him look very small indeed.

Evie Happy

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Re; war of revenge
by JP Bill / April 8, 2006 11:31 PM PDT
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Baseless rhetoric ...
by Evie / April 9, 2006 12:13 AM PDT
In reply to: Re; war of revenge

... always matters and reflects on the person spouting it. DK can repeat his new "war for revenge" line as often as he likes. Doesn't make it true.

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DK, as a faithful Democrat, doesn't care about the truth of
by Kiddpeat / April 8, 2006 11:22 PM PDT
In reply to: Dave,

who pays. He/they care only about demagogueing the issue to obtain political power.

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Here's the national debt
by Evie / April 8, 2006 10:09 PM PDT
http://www.publicdebt.treas.gov/opd/opdhisto4.htm

Do you see it going DOWN any time? There WAS no surplus. Smoke and mirrors.

Don't get me wrong, I'm NOT happy with the runaway spending by this Congress and Administration. BUT, the alternatives (when offered) have all been for spending MORE, not less.

Look at the red line of social spending. Realize how many baby boomers are getting ready to retire and require more. Stop the diversion and blaming this on the war in Iraq.

Look again: RED LINE
http://mwhodges.home.att.net/fedcomp.gif
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It does save on expenses when someone else defends you,
by Kiddpeat / April 8, 2006 10:05 AM PDT

and doesn't charge for the service.

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when someone else defends you,
by JP Bill / April 8, 2006 12:47 PM PDT

And the last time Canada was attacked, was?

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The last time Canada had something worth attacking. Canada's
by Jack Ammann / April 8, 2006 8:01 PM PDT

... defense system reminds me of someone putting a car alarm on a Yugo. I mean, is there really anyone who wants to steal a Yugo???...LOL.

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So
by JP Bill / April 8, 2006 8:42 PM PDT

Do you agree with kiddpeat, that the US defends Canada?

What did Canada do to deserve that?

The last time Canada had something worth attacking. Was when?

Speaking of Yugo. You can thank a fellow American for offering you the priviledge of owning.

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The point is,
by duckman / April 8, 2006 9:16 PM PDT

YOU don?t have a fleet of nuke-you-lar boomer and attack submarines because WE do. YOU didn?t have to spend trillions of dollars to defeat the evil empire because WE did. Yes, you had a part (ever so small) but WE have paid for the world?s freedom, not YOU.

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I have to say that Canada's military...
by Edward ODaniel / April 9, 2006 5:00 AM PDT

like the French service members doesn't really reflect the attitude of the Canadian Government and many draft dodgers who moved there.

Their Army consists of many fine men and women (actually not many but most of the few are fine) and their Navy is possibly something to be emulated as unlike ours theirs is completely air mobile and even deployable from civilian aircraft.
http://www.oldsmokie2.com/graphics/canada_navy2.jpg

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While the spirit may exist in those who serve, the fact
by Kiddpeat / April 9, 2006 5:45 AM PDT

remains that the country is resting at ease, tax wise, behind the US skirts. It is highly unbecoming then, IMHO, to brag that your expenditures are low when, in fact, it is the US who is protecting your hind end.

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Your comment made me think about who has threatened Canada
by grimgraphix / April 9, 2006 7:31 AM PDT

and in doing a bit of research. The only country that I can find that has directly threatened Canada and/or brought armed conflict against it is... The U.S., during the French & Indian war (which to be fair might be considered England - rather than the U.S. - against France), the American revolution, and later during the War of 1812.

As far as I can tell, every other military conflict that Canada has been involved in has been to assist Great Britain, the U.S. or at the behest of U.N actions. Canada also provided 42 out of 63 total radar/listening posts in the U.S. DEW line during the cold war.

grim

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Then, I guess Canada had better raise an army and build a
by Kiddpeat / April 9, 2006 11:37 AM PDT

defensive wall right now! After all, there is nothing to protect them from US aggression. I'm sure the USSR, Japan, China, Germany and a few others wouldn't have dreamed of treading on undefended Canadian soil.

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Re:nothing to protect them from US aggression
by JP Bill / April 9, 2006 12:03 PM PDT

First the US was defending Canada, now it is a possible aggressor?

If they attack from the north we have Northern Rangers (Inuit with .303 rifles)

Remember 1812

You know why the White House is white don't you?

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The White House is white
by duckman / April 9, 2006 12:08 PM PDT

because that is what colour Haliburton had in stock

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