07-20-2015, 02:43 PM
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#1
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Norm!
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Ontario debgt is twice that of California's
Interesting article on Ontario's out of control debt situation.
http://business.financialpost.com/ne...reign-borrower
Quote:
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While Ontario’s population is about one third of California’s, its debt load is more than double that of the biggest U.S. state.
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__________________
My name is Ozymandias, King of Kings;
Look on my Works, ye Mighty, and despair!
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07-20-2015, 02:57 PM
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#2
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Franchise Player
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And still only third in debt per capita in Canada.
Man we have some ####ty provinces.
Also, Ontario's debt is $140 billion less than California's.
__________________
Quote:
Originally Posted by MisterJoji
Johnny eats garbage and isn’t 100% committed.
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Last edited by nik-; 07-20-2015 at 03:02 PM.
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07-20-2015, 03:00 PM
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#3
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Franchise Player
Join Date: Mar 2012
Location: Sylvan Lake
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07-20-2015, 03:00 PM
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#4
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First Line Centre
Join Date: Jun 2011
Location: Edmonton
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Is it fair to compare a province to a state? They have different responsibility levels and different areas to fund.
I would think you have to show total provincial and federal debt per capita in both regions to get a proper comparison. Also civic debt should probably be included. It is out of control in a lot of Californian communities.
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07-20-2015, 03:06 PM
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#5
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Franchise Player
Join Date: Oct 2006
Location: San Fernando Valley
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Ontario residents are too preoccupied with the Babcock hiring to worry about such trivial stuff like this.
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07-20-2015, 03:23 PM
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#6
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Franchise Player
Join Date: Oct 2001
Location: Behind Nikkor Glass
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That DebGT is a fast car. 
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07-20-2015, 03:28 PM
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#7
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Franchise Player
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Leafs tickets are not cheap
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07-20-2015, 03:57 PM
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#8
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Crash and Bang Winger
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Eastern provinces are just a bunch of skids.... Can't manage budgets, demand more in the way of equalization payments, and then threaten to put up roadblocks for the east/west pipeline unless they have a say in Alberta's enviro policies....
The hypocrisy of eastern Canada is just friggin ridiculous...
Rant over
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07-20-2015, 05:31 PM
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#10
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Had an idea!
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Makes you wonder what the end game is for any province/state/country with a massive debt load. Pass it on to the next generation I guess and let them worry about it.
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07-20-2015, 05:37 PM
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#11
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Franchise Player
Join Date: Jan 2013
Location: Cape Breton Island
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NDP.
I mean. Liberals.
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07-20-2015, 05:38 PM
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#12
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Franchise Player
Join Date: Nov 2006
Location: Salmon with Arms
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As has been mentioned, states and provides are responsible for significantly different things. This is like saying my personal debt is twice that of a liquor store in Mexico. Apples/oranges. California isn't responsible for universal healthcare
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07-20-2015, 06:04 PM
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#13
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Franchise Player
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Well at least they aren't funding separate schools right?
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07-20-2015, 06:50 PM
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#14
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Franchise Player
Join Date: Oct 2001
Location: NYYC
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Quote:
Originally Posted by Regulator75
That DebGT is a fast car. |
Is that what the lady from the Flames games drives?
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07-20-2015, 06:54 PM
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#15
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Franchise Player
Join Date: Oct 2006
Location: San Fernando Valley
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Quote:
Originally Posted by Azure
Makes you wonder what the end game is for any province/state/country with a massive debt load. Pass it on to the next generation I guess and let them worry about it.
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How does a province get out of that kind of debt? Likely in the case of Ontario it's impossible. It's like carrying a large visa balance and forever just making the minimum payments on it while accumulating more debt.
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07-20-2015, 07:15 PM
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#16
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Franchise Player
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Quote:
Originally Posted by Erick Estrada
How does a province get out of that kind of debt?
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The first step in the process would be to start spending less than they make, stop digging.
We shouldn't be pointing fingers though, we're racking up some pretty good debt ourselves.
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07-21-2015, 08:15 AM
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#17
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Franchise Player
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Quote:
Originally Posted by Jacks
The first step in the process would be to start spending less than they make, stop digging.
We shouldn't be pointing fingers though, we're racking up some pretty good debt ourselves.
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Sort of a, "those who are building glass houses shouldn't throw stones"?
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07-21-2015, 09:38 AM
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#18
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#1 Goaltender
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Quote:
Originally Posted by Jacks
The first step in the process would be to start spending less than they make, stop digging.
We shouldn't be pointing fingers though, we're racking up some pretty good debt ourselves.
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Unfortunately raising taxes while cutting spending doesn't go over well with most voters.
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07-21-2015, 10:05 AM
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#19
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Lifetime Suspension
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Quote:
Originally Posted by undercoverbrother
Thanks
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You forgot Caitlyn Jenner!
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07-21-2015, 11:57 AM
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#20
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Norm!
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Quote:
Originally Posted by kevman
Unfortunately raising taxes while cutting spending doesn't go over well with most voters.
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I don't know if the tax well in Ontario is deep enough for that.
With out of control utilities bills, They've already done tax increases in Ontario and added more consumption taxes for things like gas, liquor etc.
The taxpayer burden in that province is already close to the breaking point in terms of day to day living expenses.
Wynn is a terrible financial manager as was her predecessor, they've dug a hole that they can't really tax out of without doing some serious cancellations of their pet projects.
Or they can go to the feds for a bigger chunk of equalization.
Ontario is as badly run as Quebec was and now Quebec is forcing austerity measures.
__________________
My name is Ozymandias, King of Kings;
Look on my Works, ye Mighty, and despair!
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