How crushing is Ontario's $312 billion debt? It would take Drake 2,000 years to pay it off
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（ZT）潸然泪下 - 变得贫穷的安省人民
- 主题发起人 Longhair
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GOLDSTEIN: How Wynne's debt bomb derailed Ontario's economy
Since 2003, the Liberals have doubled government spending from $71 billion to $141 billion annually, while increasing provincial debt by 125%, from $138.8 billion to $311.9 billion, making Ontario the world’s most indebted sub-sovereign borrower.
Even the Liberals concede a healthy debt-to-Gross Domestic Product ratio for Ontario — a key indicator of economic health — would be 27%, which is what the Liberals inherited from the previous Progressive Conservative government in 2003.
By contrast, in their 15 years in power, they’ve increased the debt-to-GDP ratio to 37.5%, and rising, while lacking a credible plan to reduce it to 27%, according to the Legislature’s independent, non-partisan Financial Accountability Office.
Since 2003, the Liberals have doubled government spending from $71 billion to $141 billion annually, while increasing provincial debt by 125%, from $138.8 billion to $311.9 billion, making Ontario the world’s most indebted sub-sovereign borrower.
Even the Liberals concede a healthy debt-to-Gross Domestic Product ratio for Ontario — a key indicator of economic health — would be 27%, which is what the Liberals inherited from the previous Progressive Conservative government in 2003.
By contrast, in their 15 years in power, they’ve increased the debt-to-GDP ratio to 37.5%, and rising, while lacking a credible plan to reduce it to 27%, according to the Legislature’s independent, non-partisan Financial Accountability Office.
Even using Wynne’s numbers, the Liberals in 2018-19 will spend $12 billion of taxpayers’ money — $1 billion a month — just paying interest on the province’s $311.9 billion debt.
In the four years Wynne has been premier, the Liberals have spent $44.5 billion paying interest on debt.
Not one penny of that — the government’s fourth-largest annual expenditure after health, education and social services — has gone towards improving public services, reducing debt, or lowering taxes.
All this during a period of historically low interest rates, when the Liberals should have been gradually reducing debt, especially now given their claim Ontario’s economy is booming.
Smome vital public services like health care are deteriorating, even as Wynne plunges the province further into debt to pay for her election promises, leading up to the June 7 vote.
Meanwhile, the Liberals are simultaneously raising the cost of living for Ontarians by $1.8 billion annually, through Wynne’s ill-conceived cap-and-trade carbon pricing scheme.
The Liberals have both undermined Ontario’s economy and left the province in dire financial straits when the next recession hits, as it inevitably will.
In the four years Wynne has been premier, the Liberals have spent $44.5 billion paying interest on debt.
Not one penny of that — the government’s fourth-largest annual expenditure after health, education and social services — has gone towards improving public services, reducing debt, or lowering taxes.
All this during a period of historically low interest rates, when the Liberals should have been gradually reducing debt, especially now given their claim Ontario’s economy is booming.
Smome vital public services like health care are deteriorating, even as Wynne plunges the province further into debt to pay for her election promises, leading up to the June 7 vote.
Meanwhile, the Liberals are simultaneously raising the cost of living for Ontarians by $1.8 billion annually, through Wynne’s ill-conceived cap-and-trade carbon pricing scheme.
The Liberals have both undermined Ontario’s economy and left the province in dire financial straits when the next recession hits, as it inevitably will.
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自由党毁了安省15 年。
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希望6月安省选民看清楚，把安省destroyer选下去
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PC自己选不赢，别人真的没什么办法
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