Ontario’s debt load is higher than that of California, America’s most-indebted state, and could reach 66 per cent of GDP by 2019 unless the provincial government musters the courage to rein in spending
" ... Ontario simply cannot continue spending money it doesn’t have; otherwise it will soon be compared to Greece, not California.”
“If Ontario continues spending at its current rate, its net debt will increase to 66 per cent from 37 per cent in just seven years. It took Greece 10 years to experience a similar increase. ..."
Thursday, January 31, 2013
Ontario headed for Greek-style meltdown?
Ontario's debt load larger than California's thanks to big-spending ways