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By A Smith (anonymous) | Posted September 02, 2012 at 12:39:26 in reply to Comment 80339
>> now that they realize that this debt needs to be reigned in
Ontario's debt charges are expected to be 1.58% of GDP(2011-12). Prior to the Great Recession (2008-09), they were 1.46%.
In contrast, for 2000-01, debt charges were 2.47% of Ontario's GDP.
At the current rate of debt charge increase (2009-2012), it would take another 17 years to hit debt charges of 2.47%/GDP. If you throw in the fact that we will probably not be in recession/slow growth for the next 17 years, this makes the Ontarios's debt "crisis" even less worrisome.
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