Ontario taxpayers on the hook for $10,000,000,000.00 per year of “Interest on Debt”!

Posted: February 4, 2012 in Uncategorized

Talk about “blowing the bundle”! The “bundle” of course is OUR hard earned tax dollar payments to the Provincial Government!

No matter how much the upcoming Drummond Commission touts it’s deficit fighting suggestions on February 15th of this year nothing will change the above figure of Interest Charges on the already existing debt load that Ontarians are carrying on their backs!

Here’s the brutal reality of what we are now saddled with. No matter how much “austerity” (punishment) we will have to adopt to bring Ontario’s spending down to a deficit beating level we will still have to pay the above interest payments on a debt that only a “gambling addict” would endorse!

What happened here to get us in this position? Look no further than an unregulated and unfettered Government body which used Ontario taxpayer’s money like a “drunken sailor let loose in a whore house”!

Even our AG publicised in his latest report that McGuinty’s Green Energy Agenda was “unsustainable” which is another “buzz word” that actually should mean “the outcome will never realize the intention”!

WE are told by Mark Carney at the Bank of Canada to get our debt lowered and quit spending off our credit cards and stop buying unnecessary goods and services as WE are too deep in debt!

The latest report is that is exactly what Canadians have done over the last year and a half being the “common sense type of people WE are”!

Did our Provincial Leadership heed any of this advise? A resounding NO! When faced with a downgrade of our credit standing what did we get? MORE SPENDING! When faced with accusations of scandalous behaviour regarding public dollars being used for profit making at the latest venue, ORNGE, what do we get? Dwight Duncan screaming above the din that “Ontario is still the best Province to invest in overall!!!”……even as Caterpillar closes down it’s plant and moves to South America because it’s a better place to invest in!

There is only one last thing to be questioned at this point: When will the Liberals step down, fold their tents, resign, bow out, admit defeat, or whatever else you can describe as giving us all a break and now that Ontario has been reduced to a Financial Rubble Heap” allow US to rebuild what is left of this “tattered mess called Ontario”!!!!

Weak-kneed premier costs Ontario

By Jim Merriam, QMI Agency

Feb 04/2012

As many country’s economies continue to circle the drain, the need for leadership becomes more evident.

Nowhere is this truer than in Ontario.

In this province we had to hire economist Don Drummond to tell the Dalton Gang how to lift itself out of the black hole of debt it has been digging for eight years.

In part, that’s because Premier Dalton McGuinty is not one of the precious few leaders with the stones to stand up and be counted when the fur starts to fly.

This problem plagues much of the European community, with the possible exception of Britain and Germany and maybe Italy under Mario Monti, the new top dog. He replaced Silvio Berlusconi when it became clear that legendary rounder wasn’t up to the job.

If U.S. President Barack Obama could lead half as well as he can speak, Yankee land would be much further along the way to restoring its economy to health.

In terms of other possibilities, should Newt Gingrich manage to wangle his way into the White House after November’s elections, all hope is lost.

Back to Ontario, it could stand as an example of how not to show leadership.

Spender-in-chief McGuinty and his followers have been maxing out the old credit card for so long that the interest payments now stand at an incredible $10 billion a year.

(If that number doesn’t take your breath away, I don’t even want to know about your own credit cards).

With a debt of some $250 billion, not only did we join the have-not bunch, but also Ontario now has the distinction of being in the worst shape of any province.

 

Cost-cutter Drummond has been dropping hints about how he will cut the province’s profligate spending.

One idea being tossed around would reduce the high number of caesarean sections in favour of natural births, which are less expensive.

Here’s where the lack of sound management (another Ontario problem) comes into the picture.

If McGuinty were a manager worthy of the title, he would have instructed his health minister years ago to find savings in her department.

Certainly Deb Matthews, the current holder of that office, is bright enough to figure out the difference in costs between the two methods of birth.

But to make a change that way would leave the government standing alone against some powerful sectors of the health-care establishment.

Any public hue and cry also would fall directly on Liberal shoulders, instead of those of some highly paid outside economist who is not answerable to the public.

In short, this is the way the gang members can hide behind their hired suit.

READ THE WHOLE STORY HERE:

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Comments
  1. […] The $10,000,000,000.00 per year in interest charges on our overall debt should be the news here, not how this Government had to make tough choices! […]

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