Rust belt

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Ontario’s chronic budget deficits have been a problem for more than a decade, as they initially surfaced during the early 2000s but came back with a vengeance once the recession struck.

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Despite the talk of painful austerity, Ontario’s recent budget continues to bleed red ink. Finance Minister Charles Sousa projects a deficit this year of $8.5 billion, and doesn’t predict an actual balancing of the books until 2017-18 fiscal year.