Learn the core distinction
Separate the annual shortfall from the accumulated balance.
Five-step learning path
Understand Canada’s deficit and debt from the ground up
No economics degree is required. Follow these pages in order and most newspaper claims will become much easier to decode.
Know the reporting year
Understand why federal years run from April through March.
Follow the accounting bridge
See why the deficit and debt change are close, but not always identical.
Choose the correct debt measure
Gross, net, market and accumulated debt answer different questions.
Read the source in the right order
Distinguish forecasts, spending authority, monthly results and audited actuals.