🚀 go-pugleaf

Karl Pollak wrote:
> 
> x-no-archive: yes
> Mark Doldon wrote:
> 
> >No, for government purposes, any debt service charges are part of what
> >is generally considered the budget.  We have had a surplus OPERATING
> >budget for quite a few years, but only this year has the government
> >balanced the total budget, including debt service charges.
> 
> Careful Mark.  State first which budget are you talking about. It looks like
> you are talking about the federal one here. Just one correction we've had a
> slight surplus in the "program spending" part of the budget, since the last
> two Tory budgets.  However, there are many other items there , incl. as you
> say debt payments, which were throwing it out of whack.

The originator of this thread had complained about the government
claiming a balanced budget when there was still a huge debt.  Obviously
he was referring to the federal budget, since there isn't a hope in hell
of the provincial government doing that. 

> 
> >Yeah, okay, technically you are right, but when we are speaking about
> >balanced budgets, we are generally referring to the government reaching
> >those targets.
> 
> Not to nitpick, but, what we are really talking about is the government not
> _planning_ to spend more than it expects to receive. It's rather ironic that
> oppositions will scream bloody murder about a proposed budget, but very
> seldom bother to take the government to task for close or far they came in
> from last year's budget.


Actually, since the most recent news on 'balanced budgets' was Mr.
Martin's announcement of the final figures for the last fiscal year, I
would assume that the original post referred to the actual amounts
rather than the true budget, which is of course a future projection.> 
> >> 3.) We could have a balanced budget and still have to borrow billions of
> >> dollars.  That is because the budget we are talking about is the current
> >> budget.
> >
> >No, I am referring to the total budget, again including debt services.
> >Refer to my comment above concerning operating budgets.
> 
> Since debt service charg are being paid out of the Consolidated evenue Fund,
> these payments _must_ be stated in the opreating budget.  Darren is dead
> wrong on this one.

My thoughts exactly.  As I said, what most people mean when they speak
of a balanced budget is not the operating or program spending budget,
but the whole enchilada, including debt service payments. 

 Darren is right about actual principle payments not being included in
that, but hey, that's only a theoretical point anyway!