This is where I live. More than half of my day goes to pay for the right to function on the Crown’s land. When I read of a psyOp in a neighboring province, and then hear that I have to help pay to rebuild that small town, I get angry, because I am already paying through my nose. When I hear of the gas plant swindle, where bankers got paid $150 million just for arranging a public loan (www.cbc.ca/news/canada/toronto…) regardless of it being built, I get angry. Our children and their children will be saddled with a debt that they can never pay off!
This is why it’s imperative for people to wake up and see what’s happening to them. Politicians are just doing their controller’s bidding — they do not represent or work for you! We see it on a local level, we see it on our pay stubs and tax and licence remittances! We pay for it in our electric bills and in the record fuel prices when we try and power our cars. If you don’t wake up for yourselves, at least do it for your children.
Picture this little Ontario fiscal scenario.
Our province has earned the distinction of being the largest borrower among all provinces and states throughout the world.
Isn’t that special?
What’s more, the interest charges on Ontario’s debt – now at an out-of-control $273 billion – represent the 220;fastest growing” expense item in the Ontario budget over the next five years.
That dire but telling analysis is contained in a leaked Jan. 25 cabinet document – likely provided to the Premier Kathleen Wynne transition team a few days later.
But the actual interest charges Ontario is paying and will pay over the next five years come right out of the 314-page 2013 budget document.
The interest on the debt will rise from $10.6 billion this year to $14.5 billion in 2017-2018, meaning a projected increase of 37%.