Ontario enjoying good Debt To GDP Performance

mentalfloss

mentalfloss

Prickly Curmudgeon Smiter
Jun 28, 2010
39,778
454
83
“Ontario, at less than 40 per cent (debt-to-GDP), is absolutely not in that kind of trouble.”

Economists have not established an ideal debt-to-GDP number, but economically troubled Greece, in contrast to Ontario, has a ratio around 175 per cent.

According to Block, there is also continued appetite in financial markets for Ontario’s debt, meaning investors still expect to get their money back, and “a sizable proportion” of Ontario’s debt is going towards investment in infrastructure.

Finally, Block noted, you need to take into account historically low interest rates. While there is always a risk that the rates will increase, she acknowledged, the province has shifted sharply toward longer-term debt to better shield itself.

https://www.google.com/amp/globalne...y-check-is-ontarios-debt-really-that-bad/amp/
 
petros

petros

The Central Scrutinizer
Nov 21, 2008
109,303
11,389
113
Low Earth Orbit
What the best way for someone with sh-t for public support to spend more of what you don't have at higher rates because of a bad credit rating?

Hire someone to write a report saying all is rosy?
 
Colpy

Colpy

Hall of Fame Member
Nov 5, 2005
21,887
847
113
69
Saint John, N.B.
Of all the moronic ideas of the "progressive" crowd, the "oh debt-to-GDP ratio" horsecrap is the most moronic of all.

I remember when interest rates in Canada were close to 20%.

Right now, Ontario owes 313 billion dollars.

The 2016 budget is for 133.9 billion dollars, of which 5.7 billion is deficit spending.

Imagine, if you will, a rise in interest rates to only 10%.

31 billion dollars just to service the growing debt, 25% of expenditures.

But lefty idiots, like children, think they can go on spending forever.......and ever.

They're wrong.
 
C

Curious Cdn

Hall of Fame Member
Feb 22, 2015
37,070
6
36
People have to trade between paying their Hydro bills and buying food, but everthing else is tickety-boo in the Premier's neighbourhood!
 
Mowich

Mowich

Hall of Fame Member
Dec 25, 2005
16,649
998
113
75
Eagle Creek
Auditor general reveals astonishing details of the Ontario Liberals’ infrastructure incompetence

Over the next decade, the Ontario government plans to spend $17 billion rehabilitating existing infrastructure, mostly on roads and bridges, and $31 billion on new infrastructure, mostly on public transit — much of the latter in the Greater Toronto and Hamilton Area.

For some weary commuters, the promise of relief might be one of the few remaining attractions Premier Kathleen Wynne’s phenomenally unpopular administration has to offer — assuming, of course, they have some degree of confidence their money will be spent properly. Page 491 of Auditor General Bonnie Lysyk’s latest report, released Wednesday, has something to say about that.

The scene: the Pickering GO station. Metrolinx was to build a pedestrian bridge across Highway 401. Not a herculean feat, one might have thought. Alas the winning bidder “had no experience in installing bridge trusses” — which is “something that a contractor constructing a bridge would be expected to know how to do,” Lysyk’s report dryly notes.

After the contractor “installed one truss upside down” — no, seriously — Metrolinx essentially took over the project. But it paid the contractor the full $19-million for the first phase of the project anyway. Then it gave the same contractors the contract for phase two — hey, it had the low bid! — and lo and behold they pooped the bed again, damaging glass to the tune of $1 million and building a stairway too wide to accommodate the planned cladding.

At this point, Metrolinx terminated the contract. It paid 99 per cent of the bill anyway. And later — no, seriously! — it gave the company another $39 million contract. “Metrolinx lacks a process to prevent poorly performing contractors from bidding on future contracts,” the report observes. Transport Minister Steven Del Duca said a new “vendor performance management system” would do just that, but one wonders why something so fancy-sounding was necessary to perform such a basic function.



​


That footbridge is the most spectacular item in the report’s cavalcade of nonsense, but not by all that much: other concerns at Metrolinx include failing to bother trying to recover cost overruns due to design consultants’ errors and late project delivery. It basically cuts cheques to CN and CP with no idea whether it’s getting what it pays for.

Lots more at....................

Chris Selley: Auditor general reveals astonishing details of the Ontario Liberals’ infrastructure incompetence | National Post
​

Cap-and-trade will cost Ontarians $8B in first years with minimal greenhouse gas reductions: auditor | Ottawa Citizen

Waste in Ontario's health care sickening | Shoreline Beacon

Ontario spending millions on government ads that are partisan: auditor | Ottawa Citizen
 
petros

petros

The Central Scrutinizer
Nov 21, 2008
109,303
11,389
113
Low Earth Orbit
Mowich said:
Auditor general reveals astonishing details of the Ontario Liberals’ infrastructure incompetence

Over the next decade, the Ontario government plans to spend $17 billion rehabilitating existing infrastructure, mostly on roads and bridges, and $31 billion on new infrastructure, mostly on public transit — much of the latter in the Greater Toronto and Hamilton Area.

For some weary commuters, the promise of relief might be one of the few remaining attractions Premier Kathleen Wynne’s phenomenally unpopular administration has to offer — assuming, of course, they have some degree of confidence their money will be spent properly. Page 491 of Auditor General Bonnie Lysyk’s latest report, released Wednesday, has something to say about that.

The scene: the Pickering GO station. Metrolinx was to build a pedestrian bridge across Highway 401. Not a herculean feat, one might have thought. Alas the winning bidder “had no experience in installing bridge trusses” — which is “something that a contractor constructing a bridge would be expected to know how to do,” Lysyk’s report dryly notes.

After the contractor “installed one truss upside down” — no, seriously — Metrolinx essentially took over the project. But it paid the contractor the full $19-million for the first phase of the project anyway. Then it gave the same contractors the contract for phase two — hey, it had the low bid! — and lo and behold they pooped the bed again, damaging glass to the tune of $1 million and building a stairway too wide to accommodate the planned cladding.

At this point, Metrolinx terminated the contract. It paid 99 per cent of the bill anyway. And later — no, seriously! — it gave the company another $39 million contract. “Metrolinx lacks a process to prevent poorly performing contractors from bidding on future contracts,” the report observes. Transport Minister Steven Del Duca said a new “vendor performance management system” would do just that, but one wonders why something so fancy-sounding was necessary to perform such a basic function.



​


That footbridge is the most spectacular item in the report’s cavalcade of nonsense, but not by all that much: other concerns at Metrolinx include failing to bother trying to recover cost overruns due to design consultants’ errors and late project delivery. It basically cuts cheques to CN and CP with no idea whether it’s getting what it pays for.

Lots more at....................

Chris Selley: Auditor general reveals astonishing details of the Ontario Liberals’ infrastructure incompetence | National Post
​

Cap-and-trade will cost Ontarians $8B in first years with minimal greenhouse gas reductions: auditor | Ottawa Citizen

Waste in Ontario's health care sickening | Shoreline Beacon

Ontario spending millions on government ads that are partisan: auditor | Ottawa Citizen
Click to expand...

No wonder Regina and Saskatoon are growing so fast....
 
C

Curious Cdn

Hall of Fame Member
Feb 22, 2015
37,070
6
36
petros said:
No wonder Regina and Saskatoon are growing so fast....
Click to expand...

Unfortunately, just the GTA alone is adding another million every decade. I wish the Prairies were taking some but alas, only a teeny drop in the bucket get there. A projection is that half of Canada will live in Southern Ontario by the turn if the century if the trend continues. Fortunately, I will be long buried, by then.
 
darkbeaver

darkbeaver

the universe is electric
Jan 26, 2006
41,035
201
63
RR1 Distopia 666 Discordia
Ontario enjoyed good debt! You are insane. So far down the hole as to be unrecoverable. There is no good debt. Debt and good do not belong in the same sentence. The two shall never meet. You,ve heard of axioms?
 
You must log in or register to reply here.
Top Bottom