09 March 2016

Where were you, the day Ontario...

...shot itself in the face?

A recent Fraser Institute study showed that Ontario has acquired more than half of its nearly $300 billion net debt since 2003/04. •

In 2003/04, the baseline year for our analysis, Ontario’s debt burden (27.2 percent of GDP) was substantial, but ranked in the bottom half among the provinces.
Looky here... we're now Number 1.
Between 2003/04 and 2015/16, Ontario’s debt level increased by more than any other province. Over this time, Ontario’s net debt rose by $10,292 per person, the largest per capita increase in Canada.
2003, 2003... that sounds so familiar...the day the economy diedOct. 2, 2003... the day the economy died.


7 comments:

bill elder said...

Ontario had a long history of solvent prosperity under an unbroken dynasty of PC leadership - the best IMHO was JR Robarts who oversaw an unprecedented prosperity in that province - he was a rock-ribbed Albertan who belived in small government, low taxes and free market prosperity.

Under his watch Ontario had the lowest corp/income/sales taxes, the most abundant cheapest electric utility and the fastest expanding economy in Canada,

I'm reminded of debt-ridden Dalton speaking at the heritage foundation honorarium for JP Roberts where this venal spendthrift Lib-tard attributed this past prosperity not to Robarts policies but to some nebulous "golden age" which apparently just dropped out of the atmosphere to land in Robart's lap.

Political asshats who believe that prosperity is a matter of luck and not good management and free market dynamics should never be allowed near the public purse. But we live in an age where urban populations are so detached from realities that any utopian lie is accepted.

The greatest lie told by media/government is that Ontario's insolvency is not the result of public sector union rapaciousness and crony capitalism.

Neo Conservative said...

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the fact is... ontario accumulated 150 billion dollars of debt since it's inception... and in the last 12 years since dalton first got elected... the liberals have more than doubled that number.

how do liberal supporters live with that?

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Martin said...

Conservatives were right about McGuinty IN 2003, he just wasn't up to the job.
The apogee of his career should have been chairman of the Ottawa Catholic School Board, the family business, something he was qualified for. Think of how much better of Ont would be today, had this occurred.
One of his most colossal failures is the GEA and associated wind and solar fiascoes (thank-you very much Gerald Butts). The story maybe apocryphal, is that McGuinty became concerned about AGW from reading a magazine in his dentist's office.
Again had he only perused Field & Stream, think how further ahead would Ont be.

Neo Conservative said...

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"martin says... The apogee of his career should have been chairman of the Ottawa Catholic School Board"

instead, like the recently disgraced michael ignatieff, dalton gets a soft landing in american academia.

sadly, ontario will never recover from liberal financial depredations.

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Bill Elder said...

Neo asks:"how do liberal supporters live with that?"
The party and union wonks are insulated from the effects and from blame, they know they will be on war sandy beaches when the realities hit home.

- the average zombie liberal voter is detached from the realities of it through a self-inflicted lobotomy and will blame it on Harper/Harris, or climate change, or outmoded manufacturing economies - It's not like they have the same cognition as those with an IQ above a turnip.

Anonymous said...

They had try to push the nonsense that they inherited a projected deficit.
Something that hadn't even taken place until they took charge, to which it had taken what was a false projection and made it reality.
By false,I mean, if you were to hypothetically cut taxes ahead of cutting spending, you could potentially run the risk of a deficit if those cuts didn't stimulate growth.

Hardly a disaster unless the gov was about to have its credit card frozen, which it wasn't.
I'm not familiar if that was what was going on, but when Conservatives run deficits due to tax relief, it hardly warrants any concern unless it was to trigger some inflation. We know how to cure that though thanks to Milton Friedman and other free market economists.

The bigger take away from this, is that the Dalton Liberals howled over it for weeks once they decided to plow ahead with billions in NEW (unrelated to the so called projection) spending, and needed the usual scapegoat to differ all the blame.

Hudak pointed out at one point that they were spending 20 billion more in 2006/7/8 revenues added from what the 2003 levels were at. Which meant the province was already over taxing it's populace.
They could of been serving the debt or allowing the PRIVATE economy to grow instead of piling on all that extra revenue on what exactly?
They have nothing to show for it accept broken window theories.
They can't take credit for the nice urban renewals or BIA's, bureaucrats can't make those things happen.
That would be happening all over and in many more unique ways if they weren't in the way to begin with.
So when the young think on how nice things are now in certain ways from what they where in the 90's, it has had nothing to do with governments.
We just would of had all these nice things much sooner and without the wannabe ghetto thieves, and the statists who enable them.

Neo Conservative said...

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ontario will have existed for 150 years in 2017.

in the last 12 years the provincial liberals have managed to double our debt load.

what the fuckin' fuck is wrong with ontario voters?!!!

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