Cutting up the government credit card. Photo: Bruce Forsyth.
May 2020
Re: “Sharpen those scissors,” (Ben Eisen, Toronto Sun, 5 May 2020):
The lefties are going to lose their minds, but cuts will have to be made to government spending when the Wuhan coronavirus pandemic ends. This means that not only will the (hopefully) temporary assistance programs have to end, but some of our cherished social programs will have to be placed on tighter budgets.
Maybe it wasn’t such a good idea to rack up such massive debts, both federally by the Trudeau government and provincially by the McGinty/Wynne government, chase industry out of our province with needlessly high hydro rates, and cripple our energy industry. This of course, is the same energy industry that could have not only provided needed jobs and provided funding for the social programs that we all love, but helped to fill the government coffers where all the money that’s been flying out the doors due to the Wuhan coronavirus comes from.
As Ben Eisen points out, the best measure of our debt sustainability of the is the debt-to-GDP ratio. Right now, it’s …”forecast to grow from 40% (already a high number – my words) to 46%, the highest level in provincial history.”
I hope this drives home the point that Socialism is great, until you run out of someone else’s money.
Also read:
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The original column in the Toronto Sun:
