This is an intelligence test and Ontarians are failing it

From the invaluable Wikipedia:

The Ontario government debt is the amount of money the Government of Ontario borrowed from the general public, institutional investors and from public-sector bodies. As of September 30, 2013 the Ontario government’s total debt stood at CDN$288.10 billion.[3] The interest on the debt was CDN$10.3 billion for 2012-2013 budget at an effective interest rate of 4%.[4]It represented 8.4% of the total budgetary expenses and is the fastest-rising cost for the Ontario government.[5] The Debt-to-GDP ratio in 2013 was 37.4%, the highest in Ontario’s history.[6]

 

I checked the comparison with California’s total public debt. I discounted a Canadian study by Jason Clemens and Neil Veldhuis because of its very low estimate of total state debt in California, for one that compares all state-government debt across fifty US states. In that regard, California’s debt looks like this.

State Total State Debt (1) Market Valued Unfunded Public Pension Liability (2) Outstanding Debt (3) Unfunded OPEB Liability (4)
California $777,918,403 $583,627,395 $119,680,625 $65,210,000

All figures in thousands. So by a  standard of calculation common to fifty states, California’s total state debt is roughly $778 billion dollars in 2014.

Ontario’s was $288 billion in 2013, and $295 billion in 2014, according to the official Ontario Financing Authority.

Ontario’s population in 2014 was 13.537 million.

California’s population in 2014 was 37.253 milion

Dividing Ontario’s 2014 debt of $295 billion by 13.537 million people, I arrive at $21,792,125 of provincial government debt per capita.

Doing the same for California, $778 billion by 37.253 million people, I arrive at $20,884,224 of state government debt per capita.

Thus, if these figures are proportionately calculated, then Ontario has a worse per capita debt than the notoriously badly governed California.

Yet it seems we are headed to another Liberal minority government. Go figure.

 

 

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Bill Osgood

Sadly the low and no information voters can’t or are incapable of looking at the short and longer term implications of Liberal spending decisions. I can’t tell you how many people I’ve tried to explain basic economics to during the course of the campaign, but it’s always easier to use short, powerful soundbites, whether true or not, rather than listen and digest a more comprehensive explanation. My hope is that there are enough people out there who get it come tomorrow, or have just had enough of the negative campaigning, lies, and underhanded tricks.

Maxwell Wolf

A more relevant statistic is, how many people rely on the govt for their livelihood? Those can be relied on to reliably back anybody who will send money their way either by erecting regulatory red tape or more directly. With that basic fact, the Liberals have a head start.

Dougf

I speak only for myself on this matter, and not as a ‘conservative’, and the answer is —-YES.

Stupid, short-sighted, irrational, and totally unable to see the forest for all the trees. Oh and always in the mood for Christmas on someone else’s dime.
Happy now ?

good Golly Miss Molly

Steve HArper has increased the national debt by cutting taxes and lacking the fiscal discipline to cut spending. Now we are stuck with a so-called stable Conservative majority. You can keep it. Harper voters are stupid.

JC

No you are not stuck.You vote for the other guy next federal election.

The sky is not falling (unless you live in Iraq),

The demonization of the PC’s or any party for that matter is dumb and stupid,

For me it took Mike Harris to slash the welfare rolls to get my ass in gear,so i know that giving more to that black hole is really no use,

The money runs out eventually.Who picks up the tab? Unionized workers and the middle class.The rich already pay quite alot in taxes.

So it makes sense the unions vote Liberal or NDP since they know they are footing the bill.

They do know this right?

Right?

JC

As far as my area goes, the liberal MP promised a university for our area so ill see if i can hold his feet tot he fire on this one.

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