25 September 2009

A billion here, a billion there...

...pretty soon you're talkin' serious coin...

The province posted a deficit of $6.4-billion for the fiscal year ending March 31, 2009, well above the $3.9-billion forecast in the budget.

The new number is contained in the public accounts of Ontario, released on Friday, and raises questions about whether Mr. Duncan will have to revise his deficit forecast for this year.
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3 comments:

Kerry Forrest said...

seems to me, no matter your party stripe, forecasting deficits seems hard to do.

NS NDP - whoops
ONT LIB - whoops
FED CON - whoops

I know from business experience, when you start to bleed dollars, all kinds of nasty things jump up to bleed you more.

To bad essential services are so broadly defined though. In business, you stop spending outside the core required to continue to offer your product/service, to stem the flow.

Like when you are broke, you cut back on advertising budget...

anyways, too bad government is not more like business

Neo Conservative said...

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"kerry says... Like when you are broke, you cut back on advertising budget"

follow the links... forecasting isn't the issue.

ehealth, olg... and a billion dollars in hospital construction over-runs?

this is about incomptence & corruption.

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Kerry Forrest said...

I've been all over specific issues in Ontario in my blog, they tend to not be read. I figure people don't really care. Given a chance they still vote red.
But broadly, seems to me no one can properly predict how much money they are blowing past income. Some parties say things like the government can't handle the money responsibly, then you aren't spending fast enough. But thats really junk too.
The real deal is we have gone all Keynesian with strong evidence that it never worked as intended, and that is the insanity of it.
It really brings to mind the McAnswer's post I read, how true it is.
I know people that strive and struggle their entire life within the frame work of making their lives better for them and their families. But when it comes to the government, it has to be now, immediate and now. Working or not. I suspect its because no one trusts the government to go slow, because someone will just change things to stop it if its not now now now.
And the truth is haste makes waste.