Xref: utzoo can.general:1038 can.politics:1910 Path: utzoo!utgpu!watmath!atbowler From: atbowler@watmath.waterloo.edu (Alan T. Bowler [SDG]) Newsgroups: can.general,can.politics Subject: Re: Free Trade: Why is there no 'Plan B'? Keywords: debt, deficit Message-ID: <22455@watmath.waterloo.edu> Date: 28 Nov 88 23:51:13 GMT References: <410@telly.UUCP> <1826@pembina.UUCP> <6761@watcgl.waterloo.edu> <1988Nov22.163030.8480@watcsc.uucp> <4228@hcr.UUCP> Reply-To: atbowler@watmath.waterloo.edu (Alan T. Bowler [SDG]) Distribution: can Organization: U. of Waterloo, Ontario Lines: 22 In article <4228@hcr.UUCP> jimr@hcrvx2.UUCP (Jim Robinson) writes: >The above firgures are *way* off. Canada's deficit is ~ 29 *billion*. The >US's deficit is (and I could be wrong by severeral ten's of billions) >~ 150 billion (US). Hmm... Actually, according to the guest editorials on the Nightly Business Report the figure is actually about 250 billion. The difference is that between current collected and paid out for social security is being counted as a "surplus" and subtracted from the rest of the budget deficit. The "surplus" is actually supposed to be put aside and used to pay pensions of the people currently contributing when they eventually retire. Apparently, at some time in the next decade the accounting rules for reporting the US deficit are going to change to separate out social security. Does anyone know how the Canadian government handles the Canada Pension Plan in relation to the rest of the Federal budget? In the past I have seen criticisms of the way the CPP funds have been handled that implied that Canada already reports this separately (i.e. the 29 billion should be compared to the 250 billion), but I have no hard evidence.