Dealing with Ontario’s debt


Sir: Well, our Ontario election is over and we have a new governing party and a new premier.

That was a certainty as was the debt left by our previous political party, and it is over $300 billion and we knew that to. It will take a little time while they figure out exactly how much the debt really is, and of course, who do you really believe?

But it is our debt because we let them do it and because we are all greedy and want all we can get. Well, we got it. That huge debt requires interest of about $1 billion per month. That means little when you say it fast, but what is a billion? It happens to be a thousand million. That’s what we are wasting each month just in interest. Each month, one thousand of your millionaire friends would have to give up a million dollars just to pay the interest. And then next month, another thousand millionaires would have to chip in a million dollars each. And the next month, and the next.

Do you now have a better idea of how huge this debt is? That would certainly build our concrete barrier on Highway 401. And after leaving us in this predicament, dear Kathleen Wynne just walks out and collects her pension. And she smiles at us.

Ontario now has about 50 per cent of Canada’s total debt. Can Doug Ford and the PCs do any worse? So here we are in deep debt, worse than California was in a few years ago, and we are now the most indebted area on the planet. But we got what we wanted.

Now do we want to make the situation better? If we do, we have to trust Mr. Ford and his team; trust that he won’t become a dictator and will listen to his advisors and genuinely try to live within our budget for the first two years and then try to reduce the debt after that.

It took years to get into that debt and it will take years to get out. Regardless of how you voted, this is OUR problem and it must be addressed for our sake plus the future of our children, grandchildren and all of Ontario.

We all must become less greedy, less self-centred and try to co-operate in order to reduce our debt. If we don’t, we will end up like the country of Greece just a few years ago – broke, bankrupt and humiliated.

Bill Elders



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