PRESIDENT GEORGE W. BUSH Message Board

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Politics : PRESIDENT GEORGE W. BUSH

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To: MKTBUZZ who started this subject	7/17/2002 5:26:31 PM
From: Kenneth E. Phillipps	Read Replies (3) of 769670

Canada posts another budget surplus. Meanwhile, because of the Bush tax cuts for the rich, the US surplus of $3 trillion has vanished and we have budget deficits "as far as the eye can see". Canada Posts April Budget Surplus of C$872 Mln OTTAWA (Reuters) - Canada posted a monthly budget surplus of C$872 million in April, sharply down from the C$3.5 billion surplus recorded in April 2001 thanks to lower revenues and higher spending, the finance ministry said on Wednesday. The ministry said in its monthly fiscal monitor that income tax cuts meant budgetary revenues had fallen by C$2.4 billion from April 2001 while program spending had increased by C$803 million. Public debt charges were C$514 million lower. Canada's fiscal year begins on April 1. The original figure for the April 2001 surplus was put at C$4.6 billion but the ministry said systems problems meant it had been overstated. © 2002 Reuters Limited. All Rights Reserved. Reproduction or redistribution of Reuters content, including framing or similar means, is expressly prohibited without the prior written consent of Reuters. Reuters shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

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