Ex-School Board Trustee, Great Leader Kim Dong Wynne A Financial Disaster For Province

Ontario auditor general sounds alarm over province’s growing debt – $325-billion by 2018

TORONTO — Ontario’s auditor general is sounding the alarm about the province’s ballooning debt in her annual report, warning that it continues to grow faster than the province’s economy.

In her 600-page annual report released Tuesday, Bonnie Lysyk cautioned that despite Ontario’s work to eliminate its deficit, the province’s rising net debt — the difference between its liabilities and its total assets — could have a number of negative implications for its finances in the future.

Ontario’s majority Liberal government has pledged to eliminate its $12.5-billion deficit by 2017-18. But by that year, the province’s net debt will have soared to $325 billion — more than double the $156.6 billion a decade ago, Lysyk’s report estimated.

Public-private financing cost Ontario taxpayers $8 billion, auditor says

The Liberal government’s addiction to public-private partnerships — including the questionable MaRS “bailout” — cost taxpayers an extra $8 billion at a time when Ontario has a crippling debt load.

That’s the verdict in Tuesday’s scathing 595-page annual report from auditor general Bonnie Lysyk, who projects the debt will reach $325 billion or $23,000 for every man, woman and child in the province by 2017-18.

It gets much worse…

h/t Ontario John

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  • RevnantDream

    She with others has turned the powerhouse of Ontario into an economic graveyard with their brand of communism

    • Yup Ontario is Detroit bound.

    • mauser 98

      yes… Wynne & McGuilty

  • ontario john

    Yes, but we are going to have some huge pride parades this year. What more do we need? Whats a total financial disaster with the smart meter program, the gas plants, wind turbines we don’t need, Pan Am bread and circus overruns, homosexual sex teachings, and so on mean to Ontario. Its only money. Our kids and grand kids can pay for it. I can’t wait until Trudeau is PM.

  • Gaylord Ponce

    After watching the news, my wife said “what is the government going to do about it?”
    I replied, “sweet fuck-all”.

    • Well they intend to steal more money to line their pockets, that’s something.

    • Waffle

      Good one — which government?

  • terrence

    Juts to give these figures a perspective, 1 million seconds last just over 11 days, and 1 billion seconds last just around 32 YEARS. But, she is doing for (i.e. TO) the children. unfortunately we really do get the governments we deserve by vote for bozos like her.

    • Alain

      Sadly so true. The voters preferred to turn a blind eye to the scandals and wasted money under the Liberals, just as the American voters did with Obama when they gave him a second term.

  • sanwin

    I really, truly, genuinely, absolutely hate that bitch.

    • Alain

      Now, now please don’t insult dogs, for she is more of a dyke than bitch.

      • Minicapt

        Dykes are useful, especially along the lower Fraser River.

        Cheers

    • She is an incompetent disaster, as was McGuinty.

  • mauser 98

    bet a buck Wynne will have to lay off more than 100,000 government “workers”.
    bond rating agencies call the shots.

  • Waffle

    Alberta did the right thing and fired Redfraud. C’mon Ontario you know what we have to do or are we hopelessly addicted to masochistic torture?

    Forgive me, but I’m not shilling for those P.C.’s (Phony Conservatives) but we could do worse until somebody with guts and smarts steps up to the plate.

    • mauser 98

      and clone of Redford replacement … no change

  • Raymond Hietapakka

    It don’t care. Be flyin’ off on a broom with a big pension by then.

  • Ontario Liberal voters wanted this.

    I would feel an enormous amount of emotional satisfaction if I knew that the aforementioned voters were one month away from declaring bankruptcy.

  • simus1

    GLLKDW &Co must be betting on a Shiny Pony future which includes the Canadian dollar collapsing and turning into monopoly money to enable them to pay off Ontario’s growing debt mountain.