All granny Wynn needs to look at is the legacy of debt and poor investments she and her government have stiffed the taxpayers of Ontario with. Some highlights of a National Post article:
* Debt is larger than the GDP of 75% of the world's countries.
* Ontario has long topped rankings as the world’s largest sub-sovereign holder of debt.
* Interest payments alone cost more than $12.3 billion per year. It’s large enough to eat up 88 per cent of the $13.9 billion in corporate taxes collected by Ontario each year.
* Debt has doubled under the Ontario Liberals.
* Ontario’s debt is as bad as the next three largest provinces combined.
https://nationalpost.com/news/canada/how-crushing-is-ontarios-312-billion-debt-really
I do not know how many members on this board own their own homes or are in the midst of raising a family, but I would imagine that if any sane person/family would attempt to manage their finances in the same reckless manner that the previous liberal government has, they would certainly be in line to file for personal bankruptcy. It kind of reminds me of those people who own multiple credit cards and keep on spending like there will never be a bill that will come due. They are completely irresponsible and should not be allowed to own a credit card - We should have taken that card away from the previous liberal government years ago.
I am not in favor of cutting expenses to the bone, but I am in favor of the Ontario government making an effort to curtail costs and get the debt under control. The looming threat of interest rates going up will not help this crisis. We are all going to have to make tough choices and guess what? Some of the fluff programs and bells and whistles on existing programs are not going to be available anymore.
Imagine what this province could have done to assist in the needs of the people if they had even a third of the interest expenses at their disposal over the past few years? That would be approximately 3 - 4 billion dollars. To me, those dollars over the past few years would have been better spent on the people as opposed to servicing the debt.
If you think I am pissed off at the poor decisions of the Wynn government, wait until your kids, grandchildren and great children are saddled with paying off this mess. They will be wondering how the fuck we allowed this to happen.
Yes, Wynn may find it hard to watch, but it is Wynn and her predecessor that are forcing the current government to make these moves. Too bad she did not keep closer watch to the reckless spending when she was in power.
Wynn should be ashamed of herself.
