ontario deficit

Printer-friendly version

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.

Printer-friendly version
If Ontarians are to believe Finance Minister Dwight Duncan, next week’s provincial budget will be “the most significant budget this government has ever delivered.” Let’s hope so. With a deficit of nearly $16 billion this year and several more expected over the coming years, Ontarians desperately need and deserve a plan to return fiscal sanity to the province.