With twice the debt of California, Ontario is now the world’s most indebted sub-sovereign borrower

Ontario, the world’s most indebted sub-sovereign borrower, is ploughing ahead with Canada’s most ambitious infrastructure plan — risking the censure of Standard & Poor’s and underperformance for its $307 billion of bonds.

The nation’s most-populous province is keeping a goal of spending $130 billion over the next decade on work such as roads and mass transit in Toronto even after S&P dropped its credit grade this month to the lowest level ever. Yield spreads on some of the province’s debt reached the widest since January after the ratings move.

  • ontario john

    Yes but we have those nice wood carvings at the Pan Scam games. And we have world famous homosexual parades.

    • WalterBannon

      I wonder how hard it would be to crowd source a civil war? Could we afford Blackwater mercenaries to overthrow this tyrannical and crooked regime?

      • Oh yea and we some faggy paint drippings on a bridge.

      • Yo Mama

        I think Wynne will want to put a Carbon Tax on any fundraising against her.

      • andycanuck

        If you’re going to do something, do it right. Get a brigade of Gurkhas. Actually, we’d probably only need a battalion.

  • WalterBannon

    Why is this crooked dyke not yet in prison?

    • The Cop Union likes the guaranteed raises.

    • David Murrell

      She has paid off too many people, including the OPP. Lots of dinero negro out there, in too many people’s pockets.

  • dance…dancetotheradio

    Wait until interest rates start to go back up to historical norms after the federal election.

    • Yo Mama

      She’ll already be retired with her girlfriend in Hawaii by then and laughing at all of us.

    • Clausewitz

      Well with Ontario’s credit rating taking a bi monthly dive, those interest rates for borrowing are already heading north.

  • Millie_Woods

    “267 per cent debt-to-revenue level”

    One day the sheriff will show up and put new locks on all the doors.

  • David Murrell

    I am still hoping for an establishment media source to write about Ontario’s ballooning debt. Here we have a fairly good piece, a re-print of a Bloomberg article, in the National Post. But how many people read the Post? Not many. The Star, the Globe, CTV News, CBC News and Global TV are all supportive of the corrupt Wynne government, and remain silent about this increasingly dangerous situation. Until Ontario’s leaders speak up, Ontario will continue to sleepwalk into danger.

    Yes, the Sun media, perhaps a few National Post writers and many conservative blogs talk about Ontario’s debt — but too few people read these media.

  • BillyHW

    If liberals are so smart, why can’t they add?

    • Yo Mama

      Not only can they add, you should see how their personal bank accounts multiply at our expense!

  • Brett_McS

    Infrastructure now! The “Bankruptcy later” will be someone else’s problem.

  • RevnantDream

    With Alberta now going to die under another socialist government, where does that leave any money for Ontario or Quebec with this debt? No more equalization payments that have propped up these governments spending habits is about to disperse under the oil haters.

    • Clausewitz

      I’m giving Confederation about 5 years. Never thought I’d see the destruction of our country before I retired, but with the embrace of socialism by our Urban elites, we’re screwed.

  • Ron MacDonald

    And it will get worse when its tax base move due to high energy costs.

  • Edubeat

    Be nice to Katy guys! Just look at the friends she has Backdoor Benny, Justine (Maggie) Trudeau, The Gay Village and her spouse who looks like a Sasquatch

  • Cat-astrophe

    We hear so little about this, the financial destruction of Canada.
    But you can bet your last dollar our leaders, all of them, know we are in this right up to our necks.
    It’s been building since Trudeau signed over our money management to private interests in the mid 70’s.
    I remember him, I lived through the years he laid the groundwork for all the BS rapidly unfolding across this country.
    A country now divided into shards, Elections are window dressing. The constitution brought thousands of lawyers into the fold who produce nothing but debt by making sure that every minority has rights above and beyond those here already. This country did not need changing I grew up a western Canadian farmer, the feeling of freedom living on that farm will never be taken, from me, it is who I am. I can’t stand the idea of our country losing our sovereignty to the World Banks.
    Leaders like Wynne, Harper, Mulcair, even Ralph Klein sold us out, privatizing EVERYTHING. That is the pattern you need to see.
    How can I go on over just Wynne and Ontario today? What’s the connection of it all?
    Like dominoes the debt charade is designed to doom us all, and not a single leader is willing to do a thing to right it or tell the truth as to why we still gallop down that path.

    • Jabberwokk

      Privatization gives you options. I find it funny that you hate privatization but love the freedom of the farm, which is the original private enterprise. The alternative is socialized which can only ration care not improve upon. Besides that also means the Government would be in charge of that rationing and as the this article (and many others have proved) the Government is helplessly incompetent and thoroughly corrupt.

      • Cat-astrophe

        It’s ironic I know, but private enterprise is much different than privatization.
        Family farm = Small business
        Privatization of formerly government owned (owned by the people) utilities = slaves to the corporation/banks.
        Small business does not do that.
        Ask the Greeks, the Ukrainians. The banks have taken over every asset owned by the people, by use of their unserviceable debt, just like Wynne etc. is doing here in Canada.

        • Jabberwokk

          Greek issues are almost entirely Greeks own fault. I do think the banks should not be lending to people that they know wont be paying it back, however, no one put a gun to Greece’s head saying ‘take this loan or else!’.

          People need to start learning how to handle there own business. And the thing is it’s the simplest things in the world to do.

          Make a mess? Clean it up.
          If you take a loan, pay it back.
          If you want something, get to work.

          You don’t need a PHD to solve these issues. Stop blaming the boogeyman and deal with it.

          Lastly though I understand your position and respect your right to have it (truly)it is inherently flawed.

          Small business that are successful become big businesses. At what point in the process do they automatically become evil?

          With Growth comes freedom. A small farm that is successful become a bigger farm. A bigger farm produces more and perpetuates an even bigger farm. The bigger you get the more you can do.

          Where I think it falls apart is not in the size but in the handling of freedom. Freedom after all, is the biggest enemy to freedom. Freedom requires self restraint to maximize it’s benefits or in other words discipline. Discipline needs a moral doctrine. And a Moral Doctrine requires an absolute in order to determine what one ought to do or not to do. THAT is what has been erased from our society and THAT is the heart of all these issues.

  • Gary

    The debt is costing $10,000,000,000.00 a year as she goes into debt each year at the rate of $10,000,000,000.00 with no plans to get that spending monkey off her back which means that she’s is driving Ontario in the ground at $20,000,000,000.00 a year just to buy votes and stay in power.

    Prios to the last Election she told Illegals that she would give the FREE Health care and full dental care that Canadians don’t even get. This treasonous weasel should have been arrested by the RCMP since the CRA had tax dollars stolen by her to give to tourists and illegals that didn’t file any Income tax with a SIN card to be entitled to these benefits.
    With 7,000,000,000 people outside of canada , there has to be at least 200,000,000 that would love to come to Ontario for Wynne’s FREE Health care and welfare to boot since Joe Mehivic said Toronto is a Sanctuary City for 300,000 illegals he will give welfare money to which is also treason to steal tax dollars to give to people not entitled to them .
    Next Wynne will tell people in other nation that she will pay for health Care in that area and they won’t have to come to Ontario.

  • Maple Curtain

    The people of Ontario are to blame for Ontario’s debt. They elected McGuinty and Wynne, and they elected the PC non-opposition leaders like Tory and Hudak, too. Let’s be realistic. Brampton Billy Davis was every bit the lefty that Trudeau was. It’s been a long time since the adults were in charge in this province (and please don’t mention that ignorant buffoon Harris in response). Turn out the lights…

  • paendragon

    I *almost* feel sorry for the nurses’ and teachers’ union tards who
    campaigned so viciously against Hudak, whom Wynne is now constantly (and
    quite predictably) screwing over.

    They’ve obviously been infantilized by their mandatory liberal indoctrination regime to respond emotively to their PC trigger-words (such as “Harper!”)!

    See, all they’ve got left now, (and all they had against Hudak, too,) is emotion:

    “Harper is MEAN! He’s a BIG MEANIE!” over and over again.

    Then they go back to sullen thumb-sucking in the corner until the next time the trigger-word is mentioned.