Rod Posted December 13, 2018 Share Posted December 13, 2018 https://www.fraserinstitute.org/article/ontario-vs-california-whos-really-debt this is pretty wild Ontario vs. California: Who's Really in Debt? Appeared in the Toronto Sun Kathleen Wynne celebrated this week after winning the Ontario Liberal leadership and the premiers job. But now comes the hard part, finding a way to return Ontarios finances to a stable, sustainable path. Part of the challenge facing Ms. Wynne is Ontarians indifference to the provinces deficits and debt. If the citizens of the province arent concerned about the over-spending, the deficits, and the accumulated debt that emerges from such spending, then we shouldnt be surprized to see politicians ducking hard decisions. There is a consensus that Ontario failed to act in any meaningful way on the recommendations made by its own Commission on the Reform of Ontario's Public Services (Drummond Commission). The Drummond Commission report should have been a wake-up call for the Ontario government regarding the immediate need for reform of the provinces spending to avert serious deficit and debt problems down the road. Instead, inaction and plans based on hope rather than realism have been the order of the day. To put Ontarios debt in perspective, we recently compared Ontarios indebtedness to that of California. After all, the Golden State has gained international notoriety for its deficits and government dysfunction. In fact, California now has the lowest bond rating in the United States and its own Treasurer, Bill Lockyer, called Californias finances a fiscal train wreck. Unfortunately, U.S. states do not measure net debt, which is a standard measure of indebtedness that compares total debt adjusted for financial assets. To compare Ontario and California, we examined what is referred to as bonded debt. This is basically the debt of the province (or state) that remains outstanding in the form of marketable bonds. On every measure of indebtedness, Ontario is markedly worse than California. Ontarios debt is almost two-thirds larger than Californias bonded debt even though California is a much larger jurisdiction in terms of both the size of its economy and its population. Specifically, Californias bonded debt is $143.9 billion as of 2011 while Ontarios is $236.6 billion, two-thirds larger than California. As a share of the economy, Ontarios debt (38.6 per cent) is more than five times larger than Californias debt (7.7 per cent). Ontarios per capita debt ($17,922) is over four-and-a-half times that of California ($3,833). Think about that Ontarians are handing their children a debt load between four-and-a-half and five times that of Californians. And there is a real cost to this debt today. Ontario spends a little over three times the amount of revenues on interest costs as California: 8.9 per cent versus 2.8 per cent. More specifically, Ontario spends roughly $10 billion a year on interest costs, about $750 per Ontarian per year just paying the interest on already accumulated debt. Thats money not spent on health care, education, roads, or public safety. The official response from the Ontario Ministry of Finance is one of denial, which echoes the lack of response by the government to the warnings of the Drummond Commission. Indeed, other sections in our report come to the same conclusions as the Drummond Commission: the status quo in Ontario will lead to marked increases in debt that could put the province in harms way. Across every comparable indicator, Ontarios indebtedness is decidedly greater than California. For those Ontarians who look at California in puzzlement over its inability to solve its deficit and debt challenges, the Ontario-California comparison suggests Ontarians look inward. The time for Wynne and her government to act on spending and deficits is now, so that more dire choices in the future are avoided. Quote Link to comment Share on other sites More sharing options...
revkevsdi Posted December 13, 2018 Share Posted December 13, 2018 And it's only getting worse with that lying POS Drug Ford in charge. I hope they lock him up and put a real conservative in charge. Quote Link to comment Share on other sites More sharing options...
Rod Posted December 13, 2018 Author Share Posted December 13, 2018 7 minutes ago, revkevsdi said: And it's only getting worse with that lying POS Drug Ford in charge. I hope they lock him up and put a real conservative in charge. The largest addition to the debt load was by Wayne and mcguinty. By a LOT. https://business.financialpost.com/opinion/ontarios-decades-of-debt-will-resonate-with-taxpayers-for-years-to-come Quote Link to comment Share on other sites More sharing options...
revkevsdi Posted December 13, 2018 Share Posted December 13, 2018 6 hours ago, Rod Johnson said: The largest addition to the debt load was by Wayne and mcguinty. By a LOT. https://business.financialpost.com/opinion/ontarios-decades-of-debt-will-resonate-with-taxpayers-for-years-to-come Well considering dirty Doug just arrived, that’s no surprise. But the stupid liar is increasing not decreasing the debt. He wanted his own specialized motorhome and he wanted it kept off the books. What kind of small thinking piece of trailer trash does that? Quote Link to comment Share on other sites More sharing options...
Rod Posted December 13, 2018 Author Share Posted December 13, 2018 28 minutes ago, revkevsdi said: Well considering dirty Doug just arrived, that’s no surprise. But the stupid liar is increasing not decreasing the debt. He wanted his own specialized motorhome and he wanted it kept off the books. What kind of small thinking piece of trailer trash does that? Not sure how he can decrease the debt just like that when the previous government made it so bad around 50% of annual borrowing goes to just running the government. Quote Link to comment Share on other sites More sharing options...
revkevsdi Posted December 13, 2018 Share Posted December 13, 2018 2 minutes ago, Rod Johnson said: Not sure how he can decrease the debt just like that when the previous government made it so bad around 50% of annual borrowing goes to just running the government. He said he could. Whoops. Another liar, just like you Quote Link to comment Share on other sites More sharing options...
Rod Posted December 13, 2018 Author Share Posted December 13, 2018 1 hour ago, revkevsdi said: He said he could. Whoops. Another liar, just like you He can. Tell take more than the 25 seconds you gave him though you’re the liar ooops remember when you said you were rich and successful ouch Quote Link to comment Share on other sites More sharing options...
revkevsdi Posted December 13, 2018 Share Posted December 13, 2018 1 minute ago, Rod Johnson said: He can. Tell take more than the 25 seconds you gave him though you’re the liar ooops remember when you said you were rich and successful ouch Poor stupid Rod. Tell take more? Maybe get some more sleep dumb dumb. Quote Link to comment Share on other sites More sharing options...
ArcticCrusher Posted December 13, 2018 Share Posted December 13, 2018 4 minutes ago, revkevsdi said: Poor stupid Rod. Tell take more? Maybe get some more sleep dumb dumb. What??? Quote Link to comment Share on other sites More sharing options...
revkevsdi Posted December 13, 2018 Share Posted December 13, 2018 1 minute ago, ArcticCrusher said: What??? Exactly. Quote Link to comment Share on other sites More sharing options...
DriftBusta Posted December 13, 2018 Share Posted December 13, 2018 19 minutes ago, Rod Johnson said: He can. Tell take more than the 25 seconds you gave him though you’re the liar ooops remember when you said you were rich and successful ouch His kayaks are very regarded. Quote Link to comment Share on other sites More sharing options...
Rod Posted December 13, 2018 Author Share Posted December 13, 2018 26 minutes ago, revkevsdi said: Poor stupid Rod. Tell take more? Maybe get some more sleep dumb dumb. You got by you’re lies again! Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member Skidooski Posted December 13, 2018 Platinum Contributing Member Share Posted December 13, 2018 Everybody is a liar EXCEPT BetaKev Barbie Hands Quote Link to comment Share on other sites More sharing options...
Rod Posted December 13, 2018 Author Share Posted December 13, 2018 The only reason kevvyboomboom doesn’t like doug is because he’s jealous of successful white men Quote Link to comment Share on other sites More sharing options...
1trailmaker Posted December 13, 2018 Share Posted December 13, 2018 3 hours ago, Rod Johnson said: The only reason kevvyboomboom doesn’t like doug is because he’s jealous of successful white men You know Doug was handed every thing in life right? he didn't make that. took 5 years to pass grade 12 then worked for his dad. I guess success is measured differently by some. Wynne was super done at this point so anyone leading the PC's would win, Doug got lucky that the PC party went after Brown and got rid of him. His timing was great. Quote Link to comment Share on other sites More sharing options...
Momorider Posted December 13, 2018 Share Posted December 13, 2018 5 minutes ago, 1trailmaker said: You know Doug was handed every thing in life right? he didn't make that. took 5 years to pass grade 12 then worked for his dad. I guess success is measured differently by some. Wynne was super done at this point so anyone leading the PC's would win, Doug got lucky that the PC party went after Brown and got rid of him. His timing was great. Quote Link to comment Share on other sites More sharing options...
1trailmaker Posted December 13, 2018 Share Posted December 13, 2018 1 minute ago, Momorider said: come on dude the Fords have been well known in Etobicoke since we were kids - just stop the ONEWAYness Randy actually runs the business (that is failing slowly) Doug spends his time in the Chicago side of the business being the true Canadian he is Are you saying their Dad didn't make the business? LIES Either way we won't see anymore posts about Ontario debt since the PC's are in charge now. Quote Link to comment Share on other sites More sharing options...
Kev144 Posted December 13, 2018 Share Posted December 13, 2018 Wonder why liberals were crippling Toronto with debt but a crack smoking mayor named Rob Ford turned it into a surplus. Surprise surprise even a crack addicted drunk can run a city better than a liberal 1 Quote Link to comment Share on other sites More sharing options...
Momorider Posted December 13, 2018 Share Posted December 13, 2018 33 minutes ago, 1trailmaker said: come on dude the Fords have been well known in Etobicoke since we were kids - just stop the ONEWAYness Randy actually runs the business (that is failing slowly) Doug spends his time in the Chicago side of the business being the true Canadian he is Are you saying their Dad didn't make the business? LIES Either way we won't see anymore posts about Ontario debt since the PC's are in charge now. More Quote Link to comment Share on other sites More sharing options...
franks pond Posted December 13, 2018 Share Posted December 13, 2018 Quote Link to comment Share on other sites More sharing options...
Rod Posted December 13, 2018 Author Share Posted December 13, 2018 Poor fail lol Quote Link to comment Share on other sites More sharing options...
1trailmaker Posted December 13, 2018 Share Posted December 13, 2018 (edited) 43 minutes ago, Kev144 said: Wonder why liberals were crippling Toronto with debt but a crack smoking mayor named Rob Ford turned it into a surplus. Surprise surprise even a crack addicted drunk can run a city better than a liberal surplus? keep the dream alive Taxes increase in 2011 2012 2013 and 2014 but he had a surplus 2010 Rob had zero increase. followed up with a 2.5.% increase. Rob cost .5% to be added every year to your proplerty taxes for the next 30 years all for his 1 stop subway Millions for cancelling LTR's Zero accomplished except worldwide embarrassment But apparently you see it differently Tory has done wonders since then and is the reason he won hands down again. You do know Cities are not allowed surpluses or deficits I bet you didn't know that. Capital spending is different. Toronto is the least tax city in North America Edited December 13, 2018 by 1trailmaker Quote Link to comment Share on other sites More sharing options...
Kev144 Posted December 13, 2018 Share Posted December 13, 2018 30 minutes ago, Rod Johnson said: Poor fail lol But Doug ford!!!!!!!!!!1111111 Quote Link to comment Share on other sites More sharing options...
Rod Posted December 13, 2018 Author Share Posted December 13, 2018 2 minutes ago, Kev144 said: But Doug ford!!!!!!!!!!1111111 Look at that debt under the ndp and liberals lol. Fail just loves it so much though Quote Link to comment Share on other sites More sharing options...
1trailmaker Posted December 13, 2018 Share Posted December 13, 2018 31 minutes ago, Rod Johnson said: Poor fail lol ? I know our debt history just wondering why you don't post Harper's massive debt? Oh I forgot he had a recession that Ontario didn't have Will you post Doug's debt or just blame Wynne for it? because right now you blame Trudeau for deficits but had zero problem with the 10 Harper had strange eh! by the way closing 13 hospitals to try and balance a budget isn't great governing IMO - But opening new ones while creating a surplus is good governing IMO/ guess who did what Quote Link to comment Share on other sites More sharing options...
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