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Chart of the week: Canada’s biggest spender

This province has more debt than the federal government


 

For the first time, Ontario has more debt, when measured as a percentage of gross domestic product, than the federal government.

The biggest spender

Chart source: Northern Economist/Livio Di Matteo


 
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Chart of the week: Canada’s biggest spender

  1. Thanks Mcguinty!

  2. Dalton is bankrupting this province.
    I just saw another stat where the provincial debt was 70 billion when Dalton started, now it's 122 billion. I'll be so glad to get rid of that idiot.
    I can't really think of one good accomplishment in 7 years. OOPs there was one, he created the Family day holiday but I can't think of anymore.

  3. Attempt to blame Mike Harris somehow in 3… 2… 1… (or maybe they will just stay away, since the chart clearly exonerates Harris).

  4. where did the money go?.i can't see any improvement in road maintenance or new roads being build or new powerplants for that matter.has our healthcare improved or become cheaper? we still do not have even one PET scanner in ontario! Does Mcguinty really think he is smarter than everybody?[most provinces have PET scanners].i see my health cost rising,electricity costs are going up tremendously and will continue to do so for years to come and our premier keeps on spending money as if there was no tomorrow.we and our children and grandchildren will have to pay down the debt and interest.thank you, Mcguinty, for this kick in the guts!

    • Really? After years of neglect, I think the one good thing McGuinty did was improve the highways. Expansions kept being put off and finally he approved them. Just look at the 401, QEW and 403. The task for the next government will be to continue the expansions and build new roads.
      As for the rest…Daddy Dalton, well let's just say it's time for a BIG change.

  5. If I lived in Ontario with a premier like Daltish McFlinty, I would lite out for Alberta instead of paying all those foolishly-incurred taxes. Zero debt in alberta, lotsa jobs.

  6. I love to listen to liberal and conservatives critize eact other since they are the same party.Some people are very slow.

  7. 40-point-something percent? WIMPS!

    More troubling, Quebec expects its gross debt to rise to more than half of provincial GDP through the near term, peaking at 55 per cent in 2012. By 2011–12, debt-servicing costs will eat up nearly $8 billion of Quebec's provincial budget…
    …The provincial net debt now stands at $129 billion—equal to 43 per cent of provincial GDP. (Two decades ago, Quebec's net debt-to-GDP ratio was only 22 per cent.)

    (Bolding in text is MYL's)

    http://www.conferenceboard.ca/topics/economics/bu

    • I'm sorry, did you say forty-three? Missed it by a hair. Try: FIFTY-FOUR.

      Care to try again with the "Canada's biggest spender" contest? Or have you shied away from the Quebec-bashing taunts?
      http://www.montrealgazette.com/news/Quebec+financ

    • ELEVEN PER CENT OF GDP: une petite erreur en arrondissant.

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