Email signup:

Dalton's Deficit: A Story of Fiscal Mismanagement

Dalton's Deficit(Queen's Park Report - November 2, 2009) It's official. Not only is Ontario a 'have-not province', but we now also have a deficit to prove it.  Dalton McGuinty has squandered a provincial surplus and turned it into the largest deficit this province has ever seen.  Last week, the Finance Minister acknowledged that the deficit has skyrocketed to $24.7 billion - twice the size of Bob Rae's biggest deficit and larger than the deficits of all the other provinces and territories combined.

Mr. McGuinty likes to blame his deficit on the recession, yet we know that's not entirely true.  Sure government revenue has fallen, but it's largely Liberal spending that has caused this mess.  Consider that it took from Confederation to 2003 to get Ontario's Budget up to $68 billion.  Today, Mr. McGuinty is spending $113 billion.  That's a 65% increase in the size of government since he took office.  Over the same time period, Ontario's economy grew by 6.2%.

Consider also how this new debt and deficit affects the provincial treasury.  Right now, Ontario is spending 8%, or $9.4 billion, of its budget just in interest alone.  That amounts to over $1 million in tax dollars for every hour in every day that is being sent to the New York bond holders that own our debt.  It's more than the government will spend on the entire university system and it's more than the government will spend on the ministries of children and youth services, tourism, agriculture, and environment combined. 

Even with this massive spending and debt we still have significant fiscal problems throughout our riding.  The Simcoe County Children's Aid Society is projecting a nearly $5.5 million deficit this year.  Collingwood General and Marine Hospital is forecasting a $535,000 deficit and apple growers in The Blue Mountains still haven't received a penny in disaster relief from the province.  Waiting lists for local long-term care beds are still just as long.  In fact, they are still 99.9% full 100% of the time. 

Undoubtedly, middle-class families are forced to work harder and harder than ever just to make ends meet, and while they are working hard, Mr. McGuinty is taxing and spending our province into the ground.  In fact, the McGuinty government is spending $2.8 million per hour, every hour of everyday, 365 days a year, then it is receiving in revenues.
 
So how does the government propose to fix this?  Shockingly, the Finance Minister doesn't even know.  He actually admitted "We haven't even begun to look at the choices we might make."  What an avowal of failure for a government that has known for years that their fiscal plan was no longer sustainable.

"We need a new direction," wrote Progressive Conservative Leader Tim Hudak in a recent opinion piece.  "One that reduces the cost of the public sector and fosters growth in the private sector. Ending corporate welfare, negotiating public-sector contracts that reflect the realities of the private sector, peeling back the red tape and over regulation that are paralyzing job creation and introducing targeted tax relief would be a good start."

Hudak went on to write, "History is full of governments that squandered the public's trust by raising taxes or running up massive deficits. It takes a special kind of incompetence to accomplish both at the same time."  I think he's right.

Share


Latest News

Wilson pleased with $1.2 million grant for Matthews House Hospice

Wilson pleased with $1.2 million grant for Matthews House Hospice

(April 20, 2018) Simcoe-Grey MPP Jim Wilson was pleased to hear that Matthews House Hospice in Alliston is receiving a $1.2 million capital grant to assist with finishing the construction. This is excellent news for the community. Congratulations to Vice President of the Capital Campaign Marv Chan...

(VIDEO) Wilson questions Liberals over executive compensation at Hydro One

(April 19, 2018) Today in question period, Simcoe-Grey MPP Jim Wilson questioned the Wynne Liberal government over approved changes to Hydro One’s executive compensation policy last year that increased the amount of severance paid to the CEO if he is fired after the board is replaced, or after ...

(VIDEO) Wilson presents petition to keep Tree Seed Plant open to legislature

(April 19, 2018) –MPP Jim Wilson continues to introduce petitions from concerned citizens encouraging the provincial government to keep the Ontario Tree Seed Plant in Angus open. want to thank Charles Bruce-Thompson, president of the Toronto Field Naturalists, for sending me this petition,” sa...

(VIDEO) Kathleen Wynne continues to campaign on the taxpayer dime

(April 17, 2018) Despite it being an egregious abuse of tax dollars and the public trust, Kathleen Wynne continues to shamelessly campaign on the taxpayer dime.

Today in Question Period, Simcoe-Grey MPP Jim Wilson raised the issue, questioning the Wynne Liberals on their use of tax dollars for no...

(VIDEO) Wilson questions government for fourth time about Ontario Tree Seed Plant closure

(April 12, 2018) Today, Simcoe-Grey MPP Jim Wilson questioned the government for a fourth time over the closure of the Ontario Tree Seed Plant located in Angus. Wilson reiterated concerns brought to him by constituents working in the industry and broader community whose questions have so far gone ...

Ontario's Debt Clock

Upcoming Events