Quote: Originally Posted by damngrumpy
Rob Ford for Premier a Province on the edge of political suicide is what that would be.
I say give her a chance, sometimes it works sometimes it doesn't. Christie in BC is a
disaster but that is BC. Hudac is more of a joke so she should do well
- Grumpy ... You are a joke and McGuinty is a joke and Wynne who is to the left of McGuinty and who advocated Sharia law in Ontario and who never said no to any yeachers unions demands as Education Minister and as a school board trustee is a joke but Hudak who is proposing several important iniatives to save Ontario's sorry fiscal *** and revitalize its flagging economy is not a joke nor is Ford who has now passed three excellent budgets which have significantly improved the financial strength of Toronto, curbed monopoly public sector union power and extravegance and sent out a clear signal to investors and the business community that the city is finally on the right fiscal track which is partly responsible for Toronto being evaluated last year as havingthe healthiest economy among all major Canadian cities.
- Why kid the troops? Just be honest, grumpy, and say look I was a long time monopoly public sector union leader who made his money screwing the helpless net taxpayers in the private sector so anything I say here is part of that left wing, big government, big union agenda. This way those of us who can actually read without using either our fingers or our lips and who understand the principles of budgetting and economic growth might have a little more respect for you and also the many here who are fellow lefty public sector union toughers will love you even more than they do now. I realize that a lengthy stint in union management tends to make a person into an inveterate and congenital liar 24/7 but you can overcome this if you really try.
- Here is the latest analysis on what the public sector union lapdog government of McGuinty has done to Ontario:
‘Greece offers a cautionary tale’: Fraser Institute likens Ontario to economic basket-cases as province’s debt climbs
Scott Stinson | Jan 31, 2013 2:04 AM ET | Last Updated: Jan 31, 2013 2:09 AM ET
As a new Ontario premier prepares to take office and a finance minister plans to leave his, a new report says the challenges presented by the province’s swollen debt have not been sufficiently addressed — and compares the situation unfavourably to such economic basket-cases as California and Greece.
The 66-page paper from the Fraser Institute, a fiscally conservative think-tank, also argues that under “status quo” policies the province’s debt as a share of its gross domestic product will almost double by the end of the decade. The authors of “The State of Ontario’s Indebtedness: Warning Signs to Act” note that the Liberal government’s own commission on public service reform, which produced the Drummond Report, “should have been a wake-up call … regarding the immediate need for reform of the province’s spending.”
Instead, they write in the report that will be released on Thursday, “the government has chosen to simply slow the rate of growth in spending over the next few years without any serious reform.”
Finance Minister Dwight Duncan, who has said he will not seek re-election and is expected to resign his Windsor MPP seat sometime in the next few weeks, gave bookend speeches at the start and end of the Liberal leadership race won by Kathleen Wynne that warned the slate of candidates of the difficult economic picture facing the province. Even as he touted in a speech last week that Ontario’s 2012-13 deficit is now forecasted to be $11.9-billion, about $3-billion lower than expected in last spring’s budget, Mr. Duncan said Ontario will have to double its current rate of spending cuts if it is to curb the deficit by 2017-18.
But the Finance Minister also said the Liberals have avoided more drastic measures taken in states like Michigan and California, which have fired public-sector workers by the thousands while dealing with their own budget woes.
The Fraser Institute report, however, argues that from a debt perspective California is in much better shape than Ontario. It says the province “is in a worse position than California on every measure of indebtedness.” Using 2010-11 figures for bonded debt, the report says Ontario had almost $240-billion compared with $144-billion for California, even though the latter has a much larger economy and population. Once the population is factored in, California’s per capita bonded debt of $3,833 is about a fifth of Ontario’s ($17,922).
“For those Ontarians who look at California in puzzlement over its inability to solve its deficit and debt challenges, [we] strongly encourage them to look inward at the severity of their own indebtedness,” the authors note.
Officials in the provincial Finance Ministry, however, disputed the comparison.
“You can’t compare Ontario to California,” said Aly Vitunski, spokeswoman for the Finance Minister. “While they’re facing mass layoffs, we’re freezing wages so we can save Ontario jobs. We’re also undertaking fundamental pension reform to ensure sustainable pensions for Ontarians, while California has been crippled under the weight of the cost of public-sector pensions.”
California, like many U.S. states, also has a constitutional requirement that demands a balanced budget, so it is unable to accumulate debt in the manner that a Canadian province can.
For the comparison with Greece, the report says that country’s net debt-to-GDP ratio was 37% in 1984, “exactly where Ontario’s [ratio] stands today.” Greece, one of the European countries most battered by the global recession, now has a debt-to-GDP ratio of a remarkable 163%. The report argues that if Ontario continues with policies that only serve to slow the rate of spending growth, “Greece offers a cautionary tale.”
National Post