Ontario is running a $14.5 billion budget deficit.
Over a decade, inflation-adjusted per-student spending rose by 18.5 per cent.
Ontario’s “share” of the federal deficit this year will be approximately $7.1 billion.
Ontario’s government spends more than $1 billion every month on debt interest.
This year’s budget shortfall is projected to eclipse $14 billion.
Ontario spends about nine per cent of all revenue on government debt-service payments.
A nominal total spending freeze would mean annual reductions in inflation-adjusted per-person spending of about three per cent.
Despite Premier Ford’s rhetoric, government spending in Ontario will still be up markedly this year.
The government’s operating deficit now stands at $14.5 billion—only half a billion less than the pre-update status quo.
Deficits and debts are not free money—they come at a cost.