Ontario has no credible plan to shrink its debt burden

Fraser Institute also has a great .pdf that compares Ontarios debt to Californias. It is a great read and illustrates just how much Ontario has destroyed Canada, and we haven't even reached the bottom yet, far from it. Selling assets doesn't make you a great business manager.

https://www.fraserinstitute.org/sites/d ... fornia.pdf

The free falling picture in the .pdf says it all.

So all of this theft and not one arrest? No clear examples of theft, abuse of influence, bribery, cronyism? Some politicians in Ontario need to see the inside of a prison and if the OPP, RCMP and their incompetent pals can't make an arrest, some of those enabling these activities needs to share a cell with them.

What's not counted in the Fraser analysis of California's debt is the crushing debt that is found in the underfunded pension programs the state runs.

Bart, if you think Ontario should be anywhere near a pension program than I advise you to keep your money real close. Ontario will be lucky if it can avoid insolvency.

In California you have a massive economy, at one time in the early 2000's as a separate entity it would have been the 7th largest NATION economy in the world. I dislike debt in general, as tax payers pay enough to keep the system operating if managed properly. However, there are certain instances in which short term debt makes sense, only in times of growth and expansion. In Canada debt is taken to reward loyal government employees. It is sinking the nation, lead by Ontario. Don't be fooled by those who suggest Canada is a free market economy, it is nothing of the sort. Worse, expressing an opinion about government accountability and responsible government will cause you harm by the "powers that be".

The province put forward the idea of a Provincial Pension Plan, it spent millions of dollars even though it isn't going forward. Wynne flip-flopped on the idea, though I imagine she can always revisit it next election to get votes. Based on early analysis of the plan, it looked like a scheme and a half.

Citizens should be able to earn enough to save for their own retirement. To pursue their dreams to own a home and generally excel if they apply their effort and talents. Consider electricity costs and other massive expenses to the citizens of the province, low discretionary income, record high unsustainable debt and you are looking at a major disaster that will not be averted. Toronto hasn't even experienced their housing bubble burst yet, stay tuned.

http://www.sacbee.com/news/politics-gov ... 68532.html

It's a public employees pension plan that's causing the problems.

Fraser Institute is not credible, and as discussed in numerous threads, neither is 90s era debt fear-mongering.