Budgetary Issues

Understanding and doing some critical thinking on Government Finance is important to all finance students and citizens. Accordingly, this assignment will require some research work and some critical thinking on assessing the situation and what you would do about it, if you were responsible for solutions.Please answer the questions below. Submit the assignment in Word, Times New Roman Font, 12 Pts. Do not exceed 1500 words. Remember to properly cite your references and or footnote appropriately all information found. Use proper sources and remember, websites such as Investopedia, Wikipedia etal. are not proper sources.Requirement:Complete the questions below:1. What is the accumulated surplus/deficit of the Federal government?2. What is the accumulated surplus/deficit of the Ontario Provincial government?3. What is the projected annual surplus/deficit of the Federal Government?4. What is the projected annual surplus/deficit of the Ontario Provincialgovernment?. Calculate the per capita benefit (if surplus) or debt (if deficit), for each citizen of Ontario of the combined accumulated surpluses or deficits of both the Federal and Ontario Provincial Governments. (Show your calculation)6. What are the implications to the citizens for the future, of the surplus or deficit?7. If you indicated a surplus, recommend and explain a proposal you would proffer as to how each citizen in Ontario receive the benefit? If you indicated a deficit, recommend and explain a proposal you would proffer as to how each citizen would pay for their personal portion.8. Calculate the comparable per capita amount for the United States. Briefly, areCanadians in a better relative position? Briefly explain why or why not.

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