Economy 52,864 Posted September 2, 2014 Share Posted September 2, 2014 http://www.theglobeandmail.com/globe-debate/budget-diagnosis-ontarios-addiction-to-debt-now-a-chronic-condition/article18386965/ http://en.wikipedia.org/wiki/Ontario_government_debt While the Federal Government of Canada is due to start having budget surpluses as early as next year and further reduce the already low debt at 33% of GDP, many Provinces are also cutting expenses fixing finances. The Country as a whole is on track for one of the most solid finances in the world There is one lost sheep in the middle of the pack however. Canada's largest Province (Ontario) has missed its targets again and is running a $13 Billion deficit this year (higher than Federal Government) Expenses are due to continue to rise faster than revenue for at least 2 more years and interest payments are already taking up nearly 10% of the budget Moodys ranking agency has downgraded Ontario to aa2. Ontario could default and go into a financial meltdown as early as 10 years from now if the Federal Government doesnt bail out Ontario. Link to post Share on other sites More sharing options...
KingOfSpain 10,010 Posted September 2, 2014 Share Posted September 2, 2014 Canada? Really? http://gagadaily.com/forums/topic/227246-ceremony-gagas-videography-megarate/ Link to post Share on other sites More sharing options...
Economy 52,864 Posted September 2, 2014 Author Share Posted September 2, 2014 Canada? Really? well, this part of Canada anyway Federal Debt: 33% of GDP one of the very lowest in the developed world Half of PRovinces are also either at a balanced budget or close to it. Even Quebec which was the worst Province financially for a long time has gotten itself more in order the last few years. But my Province Ontario forget it... Hence why I hate my Government, they suck Link to post Share on other sites More sharing options...
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