Monday, March 3, 2008

Canada's Missing $69 Billion

So where did the money go?
In every budget, Canada's 14 federal, provincial and territorial governments predict how much money they're going to spend during the coming fiscal year. Much later, we learn how much they really spent.

A study suggests most of Canada's finance ministers should be in another line of work. The C.D. Howe Institute report -- Off the Mark: Canada's 2008 Fiscal Accountability Ranking -- reveals that in the past decade, spending overruns by these governments totalled a staggering $69 billion.
That's about $300 a year per taxpayer. No, that's not "less than a cup of coffee a day" as the tax-and-spend activists want us to see those numbers. That's $3000 an average taxpayer had to withdraw from his savings account (or - add to his credit card debt) during the last decade in order to make ends meet.

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