Conscience In Politics
"Perhaps most troubling is the continued poor performance of Ontario Premier McGuinty, whose record on government spending and controlling debt is among the worst of all premiers. For Ontario to regain its position as an economic powerhouse within Canada, Premier McGuinty needs to curtail spending increases, quickly balance the provincial budget, and lower taxes on personal income." Charles Lamman, Fraser InstituteOur Dalton McGuinty, beloved of Ontarians? The fellow who has made such a wonderful impression on the voters of Ontario that he is certain to be re-elected? Surely they're joshing? And pssst! even if they're not, even if the voters are right royally pissed off at McGuinty for his spendthrift ways, lack of financial diligence, lying tongue imposing health insurance fees in lieu of 'taxes', etcetera, we're pleased as punch to vote him back in.
A third consecutive mandate. You'd think he represented the return of the best of all possible provincial premiers, Bill Davis, he of blessed memory. Hear that, Bill?
All right, seriously. "Annual budget deficits in Ontario are worrisome and leave a huge burden to Ontario's next generation", stated Niels Veldhuis, co-author of the Fraser Institute study analyzing Canada's provincial economic managers. Ontario and Quebec ranked low on the totem pole for good economic management.
"Since sound fiscal policy is a key determinant of long-term economic success, it's unfortunate to see premiers of Canada's two biggest provinces ranked so low. With Ontario and Quebec making up nearly 60% of the entire Canadian economy, it's critical for our country's success that these provinces have strong economies."British Columbia voters who vehemently hated and just recently voted to withdraw the detested HST, placing the province in a fairly wobbly financial state as a result, having to give back the 2.3-billion adjustment it received from the federal government and lowering the prospect of sustainable tax returns, was rated the highest under its former premier, Gordon Campbell. How's that for irony?
Under this current Ontario Liberal government spending has expanded to $116-billion from $63.4-billion eight years earlier, representing an increase of 7% annually. Net debt ballooned to $241.4-billion from $138.8-billion. Expressed as a percentage of GDP debt has grown to 37.6% with net debt per capita standing at $18,056 for every person in Ontario. Ontario pays $10-billion annually in interest to service its debt.
But in the run-up to the election looming on October 6, Dalton McGuinty has promised as irresistibly-enticing campaign goodies, to spend more, and more, and more. On those sacred public goods; health care and education and promising "new horizons to be opened up", all of which are extremely costly, all of which to achieve their goal will require tax increases, on top of soaring electricity prices.
Good thing we have other choices; we can vote for the Conservatives or the NDP. Both of which party leaders have gone a little berserk, matching and outdoing the Liberals in campaign promises of generous spending for the public weal. Leading former Bank of Canada governor David Dodge to express his opinion on the "impossible" economic plans, with leader lying to voters.
Lying? Well, assuring the voters that taxes can be kept low, cut, in fact, while doling out more funding for all manner of services. Treating the voters with disrespect, he says, by stating these outrageous, unreasonable, impractical promises in the hopes of being elected. Sounds like, um, the game of politics.
Wasn't it the eternal Plato who said something like 'conscience has no place in politics'?
Labels: Economy, Ontario, Politics of Convenience
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