ON Issue #14 Financial Accountability Office (FAO) " forecasts that Ontario will accumulate $50B"

#13 is Wynne selling Ontario shares under market value.

#14 - Liberal "spin" revealed to be lies by FAO.

https://www.fraserinstitute.org/blog...ry=/8Z7QHk1MYb

Earlier this week, Ontario’s provincial government put out a news release that painted a rosy picture of Ontario’s economy and its public finances. Among other things, the release boasted that the province is on course to meet its “deficit target” for this year, and to balance its budget next year.

Unfortunately, implying that Ontario’s books are in good shape is pure spin. The reality is that Ontario has been racking up debt at a historically rapid pace over the past decade and is on track to rack up still more debt in the years ahead.

This reality was brought into sharp focus on Tuesday, when the government’s own Financial Accountability Office (FAO) published a short report about Ontario’s fiscal position. This report left a very different impression from the government’s upbeat media release.

The FAO bulletin shows that although Ontario may balance its operating budget next year (after nine consecutive multi-billion dollar deficits), the government is on track to return immediately to budget deficits the following year if it continues on its current spending trajectory. In fact, the FAO forecasts that Ontario will accumulate $50 billion in new debt between now and 2020/21.

This new debt is worrisome because it comes atop a veritable mountain of debt that the province has already accumulated over the past decade. In fact, Ontario has accumulated more debt than all other Canadian provinces combined since 2003. As a result, Ontario’s debt burden, which was 26 per cent as large as the provincial economy in 2007, grew to 40 per cent of the provincial economy in 2015. For context, that’s considerably higher than when provincial debt ballooned during the tenure of former premier Bob Rae



P.S. 22nd.

:confused::confused::confused::confused::confused:

Liberals caught in another lie (saying balanced budget but reality suggests billions and no outrage or anger....and it seems no surprise..... truly Ontario has the worst gov't in Ontario's history... Notley is probably ahead for Canada.:whacked:

And the minions will vote them in

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Originally Posted by exgunner

And the minions will vote them in

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Minions... a good description.

"Narrator Geoffrey Rush tells how Minions have been oriented toward serving evil masters for millennia, but given the Minion gift for mayhem, those leaders usually come to a bad end. The list includes a Tyrannosaurus rex, a pharaoh, Count Dracula and Napoleon,"

minions serving... they could have added Liberal party of Canada, Liberal party of Ontario, NDP in Alberta

Let's hope the "bad end" is the next election... or sooner.

Ontarians face a heavy price for Liberal-crafted budget noose


http://news.nationalpost.com/full-co...d-budget-noose

By FAO calculations, Ontario’s debt, at almost $300 billion, has grown almost 90% since 2008-9 alone. The province has $2.40 in debt for every dollar of revenue it brings in. Ontario owed $20,806 per person in 2014-15, compared to $8,387 in British Columbia.

Interest on the debt, at almost $1 billion a month, is the third highest expense in the budget. Ontario spends more on interest payments than it does on post-secondary education.


A noose is a fitting description, Ontario will reach a point where the end of the rope is reached due to increasing debt expenses, increasing interest etc.

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Originally Posted by exgunner

And the minions will vote them in

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Yup. And our hopeless PC opposition party is still non-existent.