deficit

What now?

So the Liberals have won a majority and Kathleen Wynne has pledged to reintroduce and pass the budget she introduced in April. What does this mean for Ontarians: a new pension plan and a tax to pay for it; borrowed money for transit, roads, tuition and for hiring more civil servants which means more deficit and debt.

Here’s a good analysis of why austerity may be in Ontario’s future: http://fullcomment.nationalpost.com/2014/06/12/matt-gurney-cheer-up-tories-wynne-will-impose-austerity-for-you-she-has-no-choice/

But I’m not convinced Wynne will do what is necessary. In fact, I don’t think she believes Ontario is in any trouble whatsoever. The state is all: government can continue to grow and to spend without limits. The state owns everything, including your money and your rights, and grants them back to you as it sees fit.