Given half the population pays little or no taxes he will have to offer them free stuff if he hopes to get their votes. They only vote for political parties that give them ever more free stuff.
Budget 2018: Ontario Can't Afford Doug Ford's Cuts
- Thread starter mentalfloss
- Start date
Given half the population pays little or no taxes he will have to offer them free stuff if he hopes to get their votes. They only vote for political parties that give them ever more free stuff.
The ones that pay little or no tax will probably get a great, big tax cut right off the bat like the one that Trump just gave the filthy rich in his juridtiction. They,'re only 10% of the population, though.
If that's true, then maybe it's time to explore a different political system. The traditional democratic systems might have run their course.
In scathing pre-election report, Ontario auditor general says deficit is $11.7B, not $6.7B
I'm with the AG that pensions should not be looked at as an asset
A question to you MF since you are in finance, in default can creditors secure the pension plan for payment?
I'm with the AG that pensions should not be looked at as an asset
A question to you MF since you are in finance, in default can creditors secure the pension plan for payment?
LOL, the day the government illinois's those pensions will be very interesting.
If the government ever gets their hands on that money, even as collateral, kiss it goodbye.
(LIKE MFs good buddy CLINTON did with the us pension funds)
Meanwhile we have a national central bank that could have us doing as well as the state bank is doing in the dakotas...but noe, we can't have financial success, the crooked bankers and politicians can't steal everything that way.
If the government ever gets their hands on that money, even as collateral, kiss it goodbye.
(LIKE MFs good buddy CLINTON did with the us pension funds)
Meanwhile we have a national central bank that could have us doing as well as the state bank is doing in the dakotas...but noe, we can't have financial success, the crooked bankers and politicians can't steal everything that way.
Speaking of not being able to budget, appearently Wynn has been lying about the size of her deficit by only several billion dollars.
Ontario Liberals understating deficit by billions: auditor | CBC News
The Kathleen Wynne government is low-balling its budget deficits by billions of dollars, according to a report released Wednesday by the province's auditor general, just six weeks ahead of the provincial election.
The Liberal government's projected deficit of $6.7 billion for 2018-19 should actually be $11.7 billion, says Auditor General Bonnie Lysyk in her pre-election report on government finances.
Ontario Liberals understating deficit by billions: auditor | CBC News
The Kathleen Wynne government is low-balling its budget deficits by billions of dollars, according to a report released Wednesday by the province's auditor general, just six weeks ahead of the provincial election.
The Liberal government's projected deficit of $6.7 billion for 2018-19 should actually be $11.7 billion, says Auditor General Bonnie Lysyk in her pre-election report on government finances.
Lysyk said the government failed to account properly for the financial impact of its Fair Hydro Plan on provincial coffers and improperly treated the revenues and expenses related to two provincial pension plans.
For the same reasons, the auditor says the Liberals are underestimating the deficits in future years:
- $6.6 billion deficit in 2019-20 should be $12.2 billion.
- $6.5 billion deficit in 2020-21 should be $12.5 billion.
Creative accounting has long been a lib mainstay starting with justyns late father, not to worry after justyn hits the auto balance key he'll e-mail his buddy wynne the formula and delete those $bils from her balance sheet. Hopefully for once trudough has a clue if not our gkids will never be able to keep up the interest payments let alone pay off the lib legacy.
I think it's called a CORRECTION, Flossie, after 14 months of unprecedented climb! Next week it will be going the other way again, much to Walter's delight! :lol:
Dalton McGuinty created this type of reporting by the auditor because when McGuinty and the Liberals first took office after Harris and The Clowns, there was a hidden deficit of 10 billion dollars.
And, I keep sayin' ..... quit worrying about deficits. The Ruling Class will just print more money. They only battle about which bunch of crony capitalists will receive the freshly created money.
Deficit talk is all propaganda. Totally propaganda. There is no value at all to money which is created by fractional reserve currencies. It is all in our heads. Put there and nourished by the Capitalists.
The U.S. Capitalists are running scared .... they are totally worried about the class war on the horizon as what happened during Hitler's reign. Just today, there was a law passed in the South Carolina senate that any criticism of Israel "Whether Factual Or Not" is anti-semetic. I am sure that all across North America laws like this will be tweaked so as any criticism of any bank owned/operated or managed by somebody of Jewish origin will be deemed as being anti-semetic and therefore impermissible.
https://israelpalestinenews.org/lan...f-israel-sneaks-through-south-carolina-senate
And, I keep sayin' ..... quit worrying about deficits. The Ruling Class will just print more money. They only battle about which bunch of crony capitalists will receive the freshly created money.
Deficit talk is all propaganda. Totally propaganda. There is no value at all to money which is created by fractional reserve currencies. It is all in our heads. Put there and nourished by the Capitalists.
The U.S. Capitalists are running scared .... they are totally worried about the class war on the horizon as what happened during Hitler's reign. Just today, there was a law passed in the South Carolina senate that any criticism of Israel "Whether Factual Or Not" is anti-semetic. I am sure that all across North America laws like this will be tweaked so as any criticism of any bank owned/operated or managed by somebody of Jewish origin will be deemed as being anti-semetic and therefore impermissible.
https://israelpalestinenews.org/lan...f-israel-sneaks-through-south-carolina-senate
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They say Voltaire himself said that you can tell who would enslave you and be your master, because they would put themselves above your right to criticize them.
You certainly do.
Here is the government that people like MF and Cannuck want to see in Canada...I guess they have all the available loot here lined right up.
The Pentagon and HUD can’t account for $21 trillion over just the past 17 years – enough money to pay back the current U.S. national debt.
https://americandigitalnews.com/2017/12/24/follow-money-21-trillion-missing/#.WuG36m4vw4h
Yup, that amount of stolen dough will buy a lot of fake news. Just ask CNN and the WAPO.
You certainly do.
Here is the government that people like MF and Cannuck want to see in Canada...I guess they have all the available loot here lined right up.
The Pentagon and HUD can’t account for $21 trillion over just the past 17 years – enough money to pay back the current U.S. national debt.
https://americandigitalnews.com/2017/12/24/follow-money-21-trillion-missing/#.WuG36m4vw4h
Yup, that amount of stolen dough will buy a lot of fake news. Just ask CNN and the WAPO.
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I want governments to reduce their size and balance their budgets. You and Flossy don't.
:lol: in 15 years the Liberals managed to triple the provincial debt with next to nothing to show for it. In the last 5-10 years housing prices at least doubled in Ontario.
We know the Wynned Bag's plan, lie through her f*cking teeth. Even the budget is 100% Grade A bullshit. The Auditor General released her report stating the Liberals have understated projected deficits by as much as 75%.
Ontario’s Auditor-General says the Liberals have understated the province’s projected deficits by billions of dollars, casting doubt on the government’s fiscal forecast weeks ahead of a spring election.
It’s the latest development in a long-running dispute between Bonnie Lysyk and Canada’s second-largest government. Finance Minister Charles Sousa repeated his assertion on Wednesday that the Liberals had delivered a small surplus for the fiscal year ended March 31 – the first balanced budget in Ontario since the financial crisis of 2008-09. However, during the release of last month’s budget, he projected deficits of more than $6-billion over each of the next three years and further shortfalls for the following three.
Ms. Lysyk presented a much different picture on Wednesday when she released her review of last month’s pre-election report, a financial document that the government is obliged to present to Ontarians before an election. She concluded that the report substantially understated expenses and deficits and “is not a reasonable presentation of Ontario’s finances.”
Using proper accounting, she said, this fiscal year’s deficit should have been forecast at $11.7-billion, or 75 per cent higher than the government’s estimate of $6.7-billion. By 2020, Ms. Lysyk’s estimate of the deficit is nearly double that supplied by the government.
Ms. Lysyk warned that understated deficits could lead officials to authorize new spending “when the money is actually needed to pay for expenses they’ve already incurred.”
The discrepancies arise from two distinct issues. The first is the Fair Hydro Plan, introduced last year to lower electricity rates for Ontario consumers. Ms. Lysyk said the government will now have to borrow to pay power generators for providing electricity. But neither those expenses nor the resulting interest costs, she said, were included in the pre-election report’s estimates, resulting in distortions that add up to more than $2-billion each year over the next three years. Ms. Lysyk said last year that the government deliberately structured the rate-reduction plan to avoid showing a deficit and rising debt on its books.
The second issue involves how the government calculates pension expenses. The Auditor-General says the government is erroneously recording revenue from the Ontario Teachers’ Pension Plan, and “insufficient” expenses from the Ontario Public Service Employees’ Union Pension Plan.
Eleanor McMahon, president of the Treasury Board, Mr. Sousa and Ms. Lysyk met on Tuesday to discuss their differences; all three characterized the discussions as respectful, but no resolution was reached. “Our opinion hasn’t changed,” Ms. McMahon said.
Mr. Sousa defended the government’s financial presentation. “Ontario has been noted for having the most transparent numbers by the Conference Board of Canada,” he told reporters. “Nothing is hidden.”
The Conference Board said it doesn’t rank provincial governments on transparency or quality of financial reporting. “I’ve talked to all different people, and nobody seems to know where this is coming from,” spokeswoman Yvonne Squires said. “We don’t have research in this area.”
https://www.theglobeandmail.com/can...ral-says-province-substantially-understating/
:lol: :lol: The Libtards are just making shit up as they go along.
No revelation that fiat currency is pretty much on par with monopoly money however peons pay a heavy price in financing this political shell game that banksters luv. Liberals like justyn and wynne see no prob flushing a few $bil per month into banksters pockets but joe n' jane envision that enormous amount of cash being of service to canucks. After all they trusted libs to use their money wisely instad of lieing through their teeth about how they not only squandered that trust but try to cover it up with creative accounting.
Thank gawd bonnie respects the public trust placed in her.
I recall the doom and gloom chants from Ronnie Ray-Gun about Federal Budget deficits and at that time it was about Zero.
Then, I remember all the doom and gloom about deficits from Bill Clinton and through the decades since where every president nearly wept with apprehension concerning the deficit increases rising from about a trillion dollars under George W. Bush to 21 trillion with Donald Trump, and with a projected deficit of 28 trillion dollars by 2027.
And, then add to that, another 21 Trillion Dollars Missing In The Federal Budget Going Back To 1998.
https://usawatchdog.com/21-trillion...t-a-criminal-enterprise-catherine-austin-fits
Quit worrying about deficits ..... it is all a scam.
Deficit Talk is all about convincing the voters to vote against their best interests.
Then, I remember all the doom and gloom about deficits from Bill Clinton and through the decades since where every president nearly wept with apprehension concerning the deficit increases rising from about a trillion dollars under George W. Bush to 21 trillion with Donald Trump, and with a projected deficit of 28 trillion dollars by 2027.
And, then add to that, another 21 Trillion Dollars Missing In The Federal Budget Going Back To 1998.
https://usawatchdog.com/21-trillion...t-a-criminal-enterprise-catherine-austin-fits
Quit worrying about deficits ..... it is all a scam.
Deficit Talk is all about convincing the voters to vote against their best interests.
I keep saying ..... it is all a myth. A total scam. A belief system like a religion. It is a fantasy.
Nobody intends to honour any debt. Any argument and you will get nuked.
It may be easier to understand with the use of pictures ....
How Much Is A Trillion Dollars?
What does one TRILLION dollars look like?
U.S. Debt Visualized - Stacked In 100 Dollar Bills
US Debt Visualized: Stacked in $100 dollar bills at 20+ Trillion USD for 2017
US debt visualized: Stacked in 100 dollar bills @ 15 Trillion Dollars (2011)
Nobody intends to honour any debt. Any argument and you will get nuked.
It may be easier to understand with the use of pictures ....
How Much Is A Trillion Dollars?
What does one TRILLION dollars look like?
U.S. Debt Visualized - Stacked In 100 Dollar Bills
US Debt Visualized: Stacked in $100 dollar bills at 20+ Trillion USD for 2017
US debt visualized: Stacked in 100 dollar bills @ 15 Trillion Dollars (2011)
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