Ontario’s ‘Balanced Budget’ Is Fake News

The Wynne government in Ontario is getting lots of credit for “balancing the budget.”

After all, it’s supposedly the first time in a decade that the budget is out of the red.

There’s only a slight problem.

The supposed “balanced budget” is fake news.

Here’s why.

While many are focused on the yearly spending figures, the real place to look is the debt. If a budget is truly balanced or in surplus, the debt should be either steady, or declining.

That’s not happening in Ontario.

Ontario’s debt is forecast at a whopping $312 billion this year. But by 2019-2020, the debt is forecast to reach $336 billion.

Strange.

How is the debt going up if the budget is truly balanced?

This is what government’s – especially desperate government’s like the Ontario Liberals – do when an election is getting close. They find loopholes, the shift money around, and they play a big shell-game to make it look like they’ve reached balance – meanwhile the debt keeps going up.

That’s why any talk of Ontario balancing their budget is fake news.

Exploding debt under the Ontario Liberals

Ontario’s debt under the Liberal party has gone up dramatically. When the PC’s lost power, the Ontario debt was $110 billion. That means it will have more than tripled by 2020.

As Patrick Brown pointed out, “We are spending more servicing the debt each year than we’re spending on all transit and provincial highways, more than we’re spending on the Ministry of Children and Youth Services…more than on care for seniors.”

That debt is still increasing. The fiscal picture in Ontario is still getting worse.

The elitist media is doing a big disservice by using the Ontario Liberals balanced budget propaganda. The debt shows the truth.

The budget is not balanced.

The people of Ontario have endured tax hikes, weakening services, massive hydro bills, and incompetence across the board under the Liberals. The tax-and-spend big government ideology that is failing nationally has already failed in Ontario.

No amount of fake news can change that.

Spencer Fernando

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