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Simple answers to Complex Questions and Complex Answers to Simple Questions. In real life, I'm a Greater-Toronto (Canada) Realtor with RE/MAX Hallmark Realty Ltd, Brokerage. I first joined RE/MAX in 1983 and was first Registered to Trade in Real Estate in Ontario in 1974. Formerly known as "Two-Finger Ramblings of a Forensic Acuitant turned Community Synthesizer"

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Wednesday, August 29, 2007

Official Tally - Dominion Assets and Liabilities

Your Excellency, Mr Prime Minister & National Post Editors,

I just looked through my June2007 copy of the Fiscal Monitor - Canada'a monthly report card on the Dominion's Operating Statement and Balance Sheet.

My attention was drawn to the fact that the Finance Dept had excluded the Statement of Assets and Liabilities page in this year's first quarter report, so I looked up the Fiscal Reference Tables and did my own calculations to see how the Stewards of the Crown's Treasury were doing at apportioning the land's plenty.

Since March 31 2000 when the Total Interest-bearing debt hit its high-water mark of $629.747 Billion Table 14), the Dominion gov't has collected ~$1,423.585 Billion (Table 3 - allowing $222.0 billion for '06-07) and reduced the Interest-bearing Debt to $598.396 Billion (March 31,2007 Table 6, Fiscal Monitor).

So notwithstanding the sharp-pencil, accounting offsets from the newly-counted Non-Financial class of Crown Assets (used to calculated the much-reported Net Debt aka Accumulated Deficit figure), the bottom line on outstanding debt has moved down $31.351 Billion (about 4.98% less in 7 years) while ~$208.318 Billion have trickled out the door in Net Public Debt Charges ( Table 13 - ~$257.472 Billion in Gross PDC's).

All those surpluses that we've heard so much about ... all that twaddle about "the Budgetary surpluses going to pay off the Debt" ... all that posturing about prudent fiscal management ... and the gals & guys in Finance have knocked off 5% of the Crown's Interest-bearing Debt load in 7 years!!

Why isn't "the Crown" supervising the activities of Her/It's Stewards more closely? AND demanding more transparent accounting?

By the way, exactly Who/What IS the Crown? the entity whose treasury and assets are being husbanded so haphazardly and reported so obscurely?

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