Comment Re:This ruling .... (Score 1) 112
Per person, Ontarians currently owe $20,166 (Cdn) compared to $3,844 for Californiansâ"more than 5 times the per capita level of debt. Consequently, Ontarians shoulder much higher debt servicing costs: 9.2% of budget revenues in Ontario are devoted to interest payments compared to 2.8% in California.
People make fun of California and talk about them teetering on bankruptcy. But they look positively peachy compared to California. Granted this is from a right wing think tank, but the truth is the truth. And the new liberal government's budget proposals promise to run 10+ billion dollar deficits per year for the following several years. Ontario is doomed. It is the last place anyone would want to go now.