The two mortgage lenders actually have capital surpluses--it's just that investors seem to think they need more.

FORBES: Rescuing Fannie And Freddie

Mr Chretien, on the other hand, insisted the time was right for a new mandate, following nearly seven years of austerity budgets, so Canadians could decide how to spend the budget surpluses of the past two years.

BBC: Jean Chretien: Veteran fighter

Gone are the large projected budget surpluses that Mr Bush inherited a little over two years ago.

ECONOMIST: Taxing times | The