With all the forcasts of "balanced budgets"  coming thick and fast from governments faceing elections please could we have a definative explanation for what is meant by "operating budget", capital budget'.. overall budget... Lets have some clarity here about what we really owe and to whom and how its forcast to play out. Pretty well all these budget deficits could be wiped out with a carbon tax, a tax on financial transactions and adding more layers to the top marginal tax rates so that billionaires are not paying the same rates of tax as those earning about $150,000. Tax cuts inevitably lead to service cuts that also inevitably hurt those with lower incomes more and contribute to inequality. 60% of Canadians have said they would be willing to pay more tax for improved public services.