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Ontario Deficit

Premier Doug Ford will be the biggest spender in Ontario history.
PC spending cuts will shrink Ontario’s economy, the Financial Accountability Office says.
Premier Doug Ford’s vision for the province will be laid out in more detail than ever before.
Health care is the single largest expense in Ontario’s budget.
Ideas range from privatizing aspects of health care to replacing bureaucrats with AI.
The government will axe watchdogs for the environment and vulnerable children while expanding hours for alcohol sales.
Premier Doug Ford's government will unveil its first big economic update since taking office in June.
Ontario, as with many governments, is lucky its debt interest payments are not substantially higher given its almost doubled debt. That has everything to do with historically low interest rates. But luck is not a long-term strategy for governments -- at least not ones that prefer prudence over accidental fiscal offerings.
Consider that in 2013/14 interest on the provincial debt was $10.6 billion. According to the province's fall fiscal update, that was just over half of all provincial sales tax revenue paid by Ontarians last year ($20.5 billion). So Ontarians should know that when you pay your provincial sales tax at the till, half of it flutters away just to pay your provincial government's debt interest.
It is laughable that the Ontario Liberals are scolding residents of the province for not putting enough away for their own retirements when the Government has so chronically underfunded it's own defined benefit pension plans that they look more like Ponzi schemes than retirement benefits.