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Ontario on track to eliminate deficit in 2017: Wynne

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  • Mar 21st, 2017 8:43 pm
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Deal Fanatic
Nov 1, 2006
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tick wrote:
Jul 20th, 2016 12:09 am
"you can't borrow yourself out of debt, the same reason you can't drink yourself sober" an interesting quote from this documentary: https://www.youtube.com/watch?v=oohXjJdxxSk

it's very US-centric but it applies to Canada
Are you serious? You actually watched this and believe it to be true?
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Mar 1, 2003
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Jimbobs wrote:
Jul 20th, 2016 1:01 am
Are you serious? You actually watched this and believe it to be true?
Which part are you referring to?
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Nov 5, 2001
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Fjr2005 wrote:
Jul 18th, 2016 11:19 pm
shite...we have the double the debt of California and half the population
Just wait until government shutdowns and cancellation of public services (no police, fire department, sanitation, administration) starts happening coupled with double digit tax increases and corresponding drops in property values happens.
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Jimbobs wrote:
Jul 20th, 2016 12:49 am
I think you probably missed the point regarding Greece, and now, you're missing a different point here! I'm trying to understand why you think there is any similarity.
Do you really need us to spell it out for you?

You can't keep borrowing forever - sooner or later your creditors turn off the money tap. It happened in Greece, and Ontario is heading down the same path.
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CheapScotch wrote:
Jul 20th, 2016 7:07 am
Do you really need us to spell it out for you?

You can't keep borrowing forever - sooner or later your creditors turn off the money tap. It happened in Greece, and Ontario is heading down the same path.
Clearly, you don't understand much about the topic so why bother (I use the following term very loosely) contributing?
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chekacr9 wrote:
Jul 20th, 2016 11:01 am
http://www.torontosun.com/2016/07/19/wy ... 5c354165a0

We all know liberal is irresponsible spender. SPEND SPEND, let our grand children worry about paying off debt. May be our creditor will forgive our debt.

The money you spend is your money. The money you did not spend is not your money.
This has always been the way about government debt. Dislike the current government as I do, it is not unique in any way to them.
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Jimbobs wrote:
Jul 20th, 2016 11:28 am
This has always been the way about government debt. Dislike the current government as I do, it is not unique in any way to them.
Not unique indeed - Greece did the same thing. Whether or not you can see the similarity with Ontario, it sure looks to me like we (in Ontario) are headed down the same path as them.
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Oct 16, 2013
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Jimbobs wrote:
Jul 20th, 2016 12:49 am
I think you probably missed the point regarding Greece, and now, you're missing a different point here! I'm trying to understand why you think there is any similarity.
I believe it has to do with the Greece can't print money as Ontario can't print itself out of debt i.e. no control of monetary policies. Plus both just keep sending when local economies sectors are declining, with entitlements stacking up.
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CheapScotch wrote:
Jul 20th, 2016 12:14 pm
Not unique indeed - Greece did the same thing. Whether or not you can see the similarity with Ontario, it sure looks to me like we (in Ontario) are headed down the same path as them.
Certainly, it's going up but it has a way to go!

Ontario's debt to GDP ratio is just less than 40% while Canada is 84%. Greece is around 180% while the US is over 106%. These are IMF numbers from 2015 and the Ontario number is from the OFA.
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I can't stand her.
Originally Posted by uruha:
I saw a customer returning a book at Costco + telling the employee that the book was good.
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Jimbobs wrote:
Jul 20th, 2016 1:16 pm
Certainly, it's going up but it has a way to go!

Ontario's debt to GDP ratio is just less than 40% while Canada is 84%. Greece is around 180% while the US is over 106%. These are IMF numbers from 2015 and the Ontario number is from the OFA.
You know Ontario owes about 40% (based on population ) of the Federal debt, we have one economy not two, Lets say Ontario and all the provinces had debt to GDP ratios of 100% and feds have 100% do you think they are mutually exclusive?
http://www.heatware.com/eval.php?id=14378



I promise not to cut your taxes but I won't raise them either.
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Jimbobs wrote:
Jul 20th, 2016 1:16 pm
Certainly, it's going up but it has a way to go!
So it will take 20 years for us to get to where Greece is, not 10. How reassuring. :rolleyes:
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