08-15-2015, 06:56 PM
I've said before, and I'll say it again: P3 (public-private partnership) isn't inherently evil or inherently good, it all depends on what terms you negotiate. But I just can't see the Region getting into the property development business.
At this time, with the provincial budget in the red, I don't think "debt repayment" is even a line item on the budget. Interest on the debt, yes, that would be a big one.
P.S. I'm old enough to remember the federal debt issue from the 1979 election, when the debt had run up in the (Pierre) Trudeau years to around 20% of GDP, and a $6B deficit. Joe Clark got elected with a minority, but got tossed out after proposing (what we would now call) an austerity budget. More Trudeau, then Mulroney, until Jean Chretien (and probably more so Paul Martin) achieved a surplus 15 years ago, with the debt by then up to 70% of GDP. With surpluses and economic growth the debt dropped rapidly to the 30% range, although for the last five years the debt has been growing again. With the right management, there is no reason to doubt Ontario's ability to recover from the current situation as well (who would count as "the right management" is left as an exercise for the reader, though).
At this time, with the provincial budget in the red, I don't think "debt repayment" is even a line item on the budget. Interest on the debt, yes, that would be a big one.
P.S. I'm old enough to remember the federal debt issue from the 1979 election, when the debt had run up in the (Pierre) Trudeau years to around 20% of GDP, and a $6B deficit. Joe Clark got elected with a minority, but got tossed out after proposing (what we would now call) an austerity budget. More Trudeau, then Mulroney, until Jean Chretien (and probably more so Paul Martin) achieved a surplus 15 years ago, with the debt by then up to 70% of GDP. With surpluses and economic growth the debt dropped rapidly to the 30% range, although for the last five years the debt has been growing again. With the right management, there is no reason to doubt Ontario's ability to recover from the current situation as well (who would count as "the right management" is left as an exercise for the reader, though).