Even Greece, the poster child for rampant debt, carried an Ontario-style debt load as recently as 1984
Don Drummond (2012) Commission on the Reform of Ontarios Public Services
government spending
Février 5, 2013
2:00AM
I do not want Ontario to become like California Finance Minister Dwight Duncan once proclaimed. And it's not hard to understand why, California is a fiscal nightmare. It has the lowest bond rating in the United States and its own Treasurer, Bill Lockyer, referred to the state budget as "a fiscal train wreck." Yet, despite all that is said about California's finances in the media and financial markets, there is a Canada province that is in much worse shape. Welcome to Ontario.
Janvier 26, 2013
2:00AM
When Alberta Premier Alison Redford took to the television screen the other night, she paid much attention to the revenue side of the government's books. On Alberta's massive budget deficit, the premier blamed the below-world price that Alberta-based companies receive for oil.
Janvier 24, 2013
2:00AM
More than three years after the end of the recession and Albertas provincial government continues to struggle with deficits, which as of the last quarterly update could reach $3 billion. Relying on revenues to rebound enough to catch up with spending just doesnt work as Albertas own history aptly demonstrates. Similarly, municipalities across the province continue to struggle to find sufficient resources for infrastructure needs while balancing their books.
Janvier 19, 2013
2:00AM
You might think the federal Conservatives, who added $125-billion to the federal debt since 2008 and will add another $21-billion by the end of March, might be shy about unnecessary expenditures. Alas, thats not the case, as it appears Prime Minister Stephen Harper and his colleagues would rather hand out cash to corporate Canada instead.
In just the first two weeks of January, the prime minister announced another $250-million for the Automotive Innovation Funda federal subsidy program that provides the auto sector with taxpayer cash for research and development.
Décembre 14, 2012
2:00AM
When Canadas premiers met recently in Halifax, talks of a possible pipeline to move oil from Alberta to eastern Canada dominated national headlines. There was also mention of talks about trade, immigration, skills training, and infrastructure. One issue that didnt receive nearly as much attention is the management of public finances and growing government debt.
Décembre 13, 2012
2:00AM
At a recent political event, outgoing Premier Dalton McGuinty touted his legacy as leader of Ontario. Our government hasnt been perfect, he said. But when it comes to the big things that families count on us to get rightschools, health care, the environment, and the economyweve gotten it right every time.
Décembre 12, 2012
2:00AM
When Canadas premiers recently met in Halifax, talks of a possible pipeline to move oil from Alberta to eastern Canada dominated national headlines. There was also mention of talks about trade, immigration, skills training, and infrastructure. One issue that didnt receive nearly as much attention is the management of public finances and growing government debt.