Comment 119758

By Deleted User (anonymous) | Posted July 31, 2016 at 18:10:31

$350 billion in debt by 2020. 38% of Ontario's debt matures in the same year. A one percent increase in interest rates means Ontario will pay another $350 million a year in interest alone on top of the current $11 billion annual expenditure. Most of Ontario's spending in the last 8 years represented rollover of existing debt.

Do you honestly think the province can afford to build this LRT? Keep in mind that growing the economy is the last thing the province wants to do now since it will mean an increase in interest rates. The province is bankrupt and could actually default by 2020. And you guys are debating how to spend "the money." What money? Any realists left out there? Anyone capable of seeing the big picture?

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