Requirement: Comptete the questions below I. What is the accumulated surplus/def

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Requirement: Comptete the questions below I. What is the accumulated surplus/deficit of the Federal government? What is the accumulated surplus/deficit of the Ontario Provincial government? 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 o 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 2 1 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?

Explanation / Answer

1)

What is the accumulated surplus/deficit of the Federal government? The accumulated surplus/deficit of the Federal government is based on the country’s expenditures and its revenues for a given fiscal year the result is the annual budgetary balance. It is called a surplus when it is positive, and a deficit when it is negative. The budget deficit increased from $587.4 billion in FY 2016 to $665.7 billion in FY 2017.

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