And The Debt Keeps Growing.

[ 0 ] March 31, 2015 |

TIck Tock, The Debt Clock of OntarioTick tock, tick tock.

Ontario’s debt clock keeps soldiering on.  Each day, the amount each Ontarian owes, grows.  Each day, the money available for core services is further eroded. Every dollar we must pay in interest on our debt is a dollar less that is not spent on nurses, health care, roads, elderly services or education.

As of today, the debt for Ontario is over $279 billion dollars.  That means each person in Ontario, every man, woman and child owes $20,564.

No matter how much the Liberal Government tries to spin this, our economic ship is taking on water, taking it on fast and the life boats are far off, way far off, on the horizon.

It’s a pretty good bet that some of our assets are on the sale chopping block.  What we’ll get for them, either in part, or in whole, is anyone’s guess.  While I would normally applaud a government for trying to tackle its debt, even if that meant selling publicly owned assets, this government has zero plan to utilize this money wisely.

Is one dime of the money we may get, from selling off parts of Hydro One or the LCBO, going to be applied towards our ballooning debt?  Apparently not.  And that is where the problem lies.  The Wynne bunch will spend that money in a one-time, non-revenue making spending spree.  And of course in Liberal friendly areas.

We will see shiny new transit baubles in the Toronto area no doubt, but it’s also another pretty good bet that those baubles will cost the rest of Ontario even more money.

It places us as taxpayers in yet another double whammy.  We will lose a publicly owned asset that at least brought money into the tax coffers and we will be left to continue spending the money on transit initiatives that rarely, if ever, actually makes money.

It behooves the NDP and the PCs to put pressure on the Liberals to apply at least half of any money acquired, directly to our debt.  There is only so much money Wynne can keep heaping on our credit cards before the whole province sinks into Lake Ontario.

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Category: Liberal Boondoggles