[Newsbot]

Title: $13,000,000,000 Ontario deficit.
Category: Provincial Politics
Posted By: mtbr
Date: 2009-02-27 05:31:32
Canadian

[mtbr]

How will they ever raise any money to pay for the deficit and debt...Alberta will be back and their piggy bank will be filled again.

[DrJones]

McGuinty's tax raises and spending spree haven't ushered in a new fiscal utopia? NO WAY!!!

[ryan29]

who knows what ontario will do down the road , as you say they don't really have any oil or other resources that might all of a sudden be worth more . the manufacturing base has also been deteriorated and not nearly as many high paying jobs there . there is going to be some challenging days ahead for this province .

[ziggy]

ryan29 wrote:

who knows what ontario will do down the road , as you say they don't really have any oil or other resources that might all of a sudden be worth more . the manufacturing base has also been deteriorated and not nearly as many high paying jobs there . there is going to be some challenging days ahead for this province .

Tough time's coming up for the whole country.
I've been trying to find info on bail outs and stimulas money for each province and not finding much but a few articles on the NDP saying 2 billion is needed and then 12 or more billion and thats for Alberta.
I'm curious as to how any money will stimulate jobs in the short term which is right away.

Some are suggesting grants for green renovations on your home but how is that going to help as most folks who may or will lose their livelihood wont be thinking of doing reno's on their shacks.

The money for carbon sequestering in Alberta will help in the future but I fail to see any real jobs come out of it right away.

I dont agree with the auto bailouts either unless some concessions are made by the union members first to show they are serious about their jobs and making something people will buy without the govt. having to help out.

[CommanderSock]

Quote:

who knows what ontario will do down the road , as you say they don't really have any oil or other resources that might all of a sudden be worth more . the manufacturing base has also been deteriorated and not nearly as many high paying jobs there . there is going to be some challenging days ahead for this province .

I'm glad the manufacturing industry in Ont had began dying back in the early 90s. It's made for a far smoother recession than most anticipated. The fact that most factories had already closed their doors years before 2007 (recession start date) was a blessing in disguise for the province.

As for the future, it is quite clear. It is in services. Manufacturing doesn't pay up anymore. Economies that relied on manufacturing are being hit the hardest.