ConcernedCitizen @ProudCON #Ontario is the largest sub-national debtor in the entire world. Truly, let that sink in.
Ontario is the largest sub-national debtor in the entire world
Ontario’s deteriorating fiscal situation is an overarching problem for the province, as well as a cautionary tale for the federal government, its new BFF. Right-wing ideology or partisan politics have nothing to do with the irrefutable conclusion that Ontario is in fiscal trouble.
This is a challenge for the country as a whole, since Canada cannot reach its potential when its biggest province is languishing and too many other provinces are following the same path of fiscal imprudence.
Admittedly, the Ontario government is confronting large challenges, some intractable. They include an aging population, a fragile and slow-growth global economy, uncompetitive energy costs, a manufacturing sector brutalized by the Great Recession, the disappearance of companies that makes more problematic a recovery based on a lower dollar and American economic resurgence and stubbornly poor productivity growth. However, Ontario is still relatively wealthy and diversified and, in any event, the responsibility of government is to respond constructively to challenges. Unfortunately, current policies are making a difficult situation much worse.
more flufftastic news
http://natpo.st/1Ptxv8M #onpoli #Liberals
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