TD Bank Warns About Massive Deficit Left Over By Ontario Liberals

“Deficit Monster” must be dealt with.

TD Bank is warning about the massive deficit leftover from the Wynne Liberals in Ontario.

The Ford Conservatives inherited a province with the largest sub-national debt in the world, and the deficits claimed by the Wynne Liberals turned out to be far worse than expected.

TD economists said “The upcoming fiscal update will provide a huge opportunity for the government to signal how it plans to slay the deficit monster. From a credibility perspective, the sooner the government gets its fiscal house in order, the better.”

Added TD, “If the government plans to honor its campaign promises, program spending will have to be pared significantly. Should the economy take a turn for the worse, the government’s job becomes exponentially harder. All told, the path to balance will be fraught with hard decisions.”

Ford has made pledges that would both add to and reduce the deficit, with a mix of tax cuts and spending restraint. However, Ford’s government differs from the Liberals in that he will put more money in consumers pockets and make it easier for businesses to grow, hire, and attract investment, all of which can grow the economy and bring in more government revenue without the need for higher rates.

Danger of Liberal spending

This shows the danger of Liberal governments being in power. The deficit surged massively under the Ontario Liberals, bringing the province into an incredibly dangerous fiscal position. We see the same thing now nationally with the Trudeau Liberals.

Even without a global recession, and even with a booming economy in the United States, the Trudeau Liberals are running huge deficits and putting Canada at increased risk.

Spencer Fernando

Photo – YouTube

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Ivan HawkesGonzo the MagnificentMoe. S.Mike AllanDel Recent comment authors
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shawn harris
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shawn harris

Both Liberal leaders Wynne and Trudeau deliberate decisions to lie deceive, obfuscate and hide the true costs of their massive debts, can be summed up in Winston Churchill’s words, “The truth is incontrovertible. Malice may attack it, ignorance may deride it, but in the end, there it is”. The lies deceits and massive waste of taxpayers money, deficits,, and debts are now exposed, for everyone to see, the real and lasting generational damage they have done. Both of these committed hard left socialists, have proven their only concern, when it came to the borrowing and spending of taxpayers money, was… Read more »

Moe. S.
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Moe. S.

Excellent! Agree 100% with your comments.

Ivan Hawkes
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Ivan Hawkes

Well said shawn harris, you have nailed down the fate that foolish Canadians have brought upon themselves by voting for the left. Venezuela is an excellent example of what will become of Canada if Justin is allowed to continue. Canadians had better wake up to realize this fact. If LIEberal minded people want to alter the future, forget a carbon tax and come up with VIABLE alternatives to oil based energy. Oil is necessary for the hundreds of other products derived from it, but for an energy source we have no replacement substantial and reliable enough… yet.

michael foucault
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michael foucault

The libs have been trying to break this country since they got in , this should surprise no one.

Wendy Lush
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Wendy Lush

Top photo: is that Wynne, or could it be Miss Jane Hathaway (Nancy Kulp) from “The Beverly Hillbillies”?! .. Oh wait it couldn’t be, that show is 50 years old.

photos:
https://duckduckgo.com/?q=Nancy+Kulp+Beverly+Hillbillies&t=h_&iax=images&ia=images

Gonzo the Magnificent
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Gonzo the Magnificent

Hey Wendy: personally I think Nancy Kulp is better looking, so that says some thing about Wynne. HAHA!

Wendy Lush
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Wendy Lush

Thanks Gonzo. The Beverly Hillbillies, funniest show ever – especially “varmints and vittles” Granny! Bodine was smarter than Trudeau, that’s for sure.
Incidentally Nancy Kulp was also lesbian, and after the show ended in 1971 she also entered politics (Democrats of course).

Palladini
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Palladini

And the Federal Liberals want to put a Carbon Tax on Ontario, putting to start a 4 buck tax on Gas, going up to 11 bucks in 2020, you want an economy killer, that is going to be one right there. No one will be able to fill up to go to work, go up north or do anything with a car, you will soon see horse and buggies on Ontario roads, if that tax happens to come to Ontario. And the even Scarier part is the UN wants to the tax to be 100 times as much, and Trudeau… Read more »

Del
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Del

We wish him luck. Just like the next Federal Government, some hard unpopular decisions will have to be made to salvage the Province and then the Country. Some programs will have to be cut or reduced and carbon taxes repealed.

PS: No Calgary, you simply cannot afford an Olympics. Security against “peaceful” foreign and homegrown terrorists would have to be established across the nation and every coastline monitored 24 hrs. That alone would cost billions. In case Calgary missed the news, almost $100 BILLION left Canada in the last year, never to return.

Mike Allan
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Mike Allan

No accountability from Wynne or even to say, As God is my witness I thought money grew on windmills.