User:TylerWilkinson/OntarioPublicDebt



The United States government debt, commonly called the "public debt" or the "national debt", is the amount of money owed by the federal government of the United States to holders of U.S. debt instruments. Debt held by the public is all federal debt held by states, corporations, individuals, and foreign governments, but does not include intragovernmental debt obligations or debt held in the Social Security Trust Fund. Types of securities held by the public include, but are not limited to, Treasury Bills, Notes, Bonds, TIPS, United States Savings Bonds, and State and Local Government Series securities.

The Ontario government bebt, commonly called public debt, is the amount of money owed by the Provincial government of Ontario to holders of Treasury Securities.

The public (or national) debt is the accumulation of deficits and surpluses from year to year. Usually, when governments run a deficit in a fiscal year, they have to borrow money in the financial markets, normally by selling bonds to citizens. In this respect, governments are similar to persons or businesses—when you spend more money than you take in, you have to find credit to cover the difference. http://www.canadianeconomy.gc.ca/English/economy/public_debt.html

Debt, Public. In 1867 the new Dominion government took over the debts of the provincial governments that came into federation. By 1914 this debt had increased to $544,391,369; though against this were assets of $208,394,519, leaving a net debt of $335,996,850. This debt, moreover, had been incurred in the main for productive purposes, such as the Intercolonial and transcontinental railways, and the canals - assets which, though not perhaps realizable, had contributed to the development of the country, and thus to its taxable capacity. Of this debt by far the greater part was held outside Canada, the principal of the Dominion funded debt payable in London, England, in 1914, being over $300,000,000, as against less than $1,000,000 payable in Canada. Since 1914 this situation has been vastly altered. The net debt of the Dominion of Canada has increased from $335,996,850 to over $11,298,000,000. Almost the entire amount of Canada's war financing was carried out through domestic operations. Of the total funded debt and treasury bills outstanding as at Mar. 31, 1945, amounting to $13,984,000,000, less than 2.5 per cent. was payable outside of Canada, representing $12,000,000 payable in London and $333,000,000 in New York. http://faculty.marianopolis.edu/c.belanger/quebechistory/encyclopedia/PublicDebtofCanada.htm

The national debt is the total accumulation of all budgetary deficits since Canada came into existence (the Confederation of 1867). Thus, the 1986 deficit of $33.8 billion is added to the debt of 1985, $190.3 billion, for a total debt of $224.1 billion in 1986. (By January, 1994, Canada’s public debt reached the $500-billion mark.)

When Canada was founded in 1867 (the union of four provinces — Ontario, Quebec, New Brunswick, and Nova Scotia), the country's debt was $93 million. The first major increase took place during World War I (1914-18), when Canada's public debt went up from $483 million in 1913 to $3 billion in 1920. The second major increase took place during World War II (1939-45), when the debt went up from $4 billion in 1942 to $13 billion in 1947. These two increases may be explained by the fact that the Government had to borrow large sums of money in order to take part in these two wars. http://www.michaeljournal.org/plenty34.htm

efinition of Debt vs Deficit http://www.davemanuel.com/investor-dictionary/debt-vs-deficit/

Good Graphs http://en.wikipedia.org/wiki/File:Oil_Prices_1861_2007.svg

CANSIM

Questions Public Debt: is the accumulation of deficits and surpluses from year to year Net Public Debt:

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http://www40.statcan.ca/l01/cst01/govt03a-eng.htm Gross federal debt Net federal debt

http://www.parl.gc.ca/information/library/PRBpubs/prb0641-e.htm

Articles where the may have info on Debt over history: Kneebone, Ronald D. and Leach, John,The Accumulation of Public Debt in Canada. Canadian Public Policy, Vol. 27, No. 3, 2001. Available at SSRN: http://ssrn.com/abstract=313289