I’ve never had enough money to really ‘get to know’ money, so I wish an accountant out there (with a conscience) would take it upon her/himself (I put female before male here from over 40 years experience ‘asking for volunteers’ by the way…they deserve first mention), because, once again, as McCoy keeps frustratingly telling Cpt. Kirk: “Damn it Jim, I’m a doctor, not a mathematician”
At any rate, without claiming I really understand or have attached what is a ‘complete’ picture with respect to the amounts borrowed by the King government within the current fiscal year, I share it with you anyways, if for no other reason than to raise questions and perhaps kick-start that yet-to-be-identified financial wizard out there willing to do a (as the CBC call their investigative missions seeking answers to such scintillating questions as, “why do squirrels only ever find 10% of the nuts they bury?”
[spoiler alert…the rest go to the CBC] a “deep dive” into this matter.
Seems the Financial Administration Act and/or Loan Act or both together…who knows?…. only allows a maximum of $450,000,000 within a fiscal year – but again, I swear-off really knowing what I’m talking about here, I’m just pointing that out to you from what it says in the attached Order in Council.
At any rate, with the 20 mil in Dec/2023 from the Royal Bank, the 100 million line of credit from last May, 2023, and the issuance of a 200 million Debenture in January, 2024 (reported in the February 14 Orders in Council) my quick search has us in the hole at least another $320 million over the past EIGHT MONTHS!