HomeMy WebLinkAboutHuron Expositor, 2014-10-15, Page 44 Huron Expositor • Wednesday, October 15, 2014
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Canacri
editorial
Sale of asset helps lower
Ontario budget deficit
The Ontario government hasn't posted a balanced
budget in recent memory, but has consistently
posted deficits lower than their original estimates.
The fact it continues to crow about this achievement sug-
gests some desperation on the part of the Queen's Park
Liberals, whose financial reputation was battered under
the leadership of former Premier Dalton McGuinty and
continues to limp under the stewardship of his successor.
Ontario's final deficit number for the 2013-14 fiscal year was
$10.4 biffion, Finance Minister Charles Sousa's department
announced Sept. 22. That's still a big deficit number, and has
already been added to Ontario's monstrous overall debt - but
the final number is lower than what was projected by Sousa's
people a year ago, precisely $1.3 billion lower.
The government's finance people see this as a measure
of success, and it is a success if you consider that over the
last five years these same people have consistently over-
estimated the deficit's final sum and now delight in the
fact that it's lower than original forecast.
Indeed, the news release on Monday said: "Ontario's
accumulated deficit is $25 billion lower than it otherwise
would have been" over the past five years, making the
province "one of the only governments in Canada to
achieve this level of success."
Whatthe press release doesn't explain is that the province's
overall debt is still at least $50 billion higher over that same time
period because the govemment couldn't live within its means.
Sousa believes the budget will be balanced by 2017-18,
and that indeed would be a hallelujah moment. But it
means deficits that have been consistently north of $10
billion for each of the past five years must be erased,
either through a program of spending reduction or a dra-
matic increase in revenue.
Here again the Liberals are coy. In Monday's release they
blamed the federal government for lower transfer payments,
while crediting "higher -than -forecast income from govem-
ment business enterprises, and higher other non -tax revenue,
including the sale of share of General Motors Company..:'
The sale of GM stock was big. Much of it was sold in the
2013-14 fiscal year. In April, Sousa said the balance would
be sold in this fiscal year. But once it's gone, it's gone. You
can only sell so much of the silverware before you realize
that all of the spoons are gone.
Of course, there are other provincial assets, and they
may also be sold off within the several years to raise the
cash to lower the deficit.
But as with the GM stock sale, you can only do that
until the assets are gone.
And then you have to live within your means.
There was no mention of that in last month's announcement.
QM! Agency
Making sure we're
always thankful
Aifter this past weekend,
we're all probably feel -
'rig a little tired.
With turkey and stuffing, not
to mention lots of time spent
with family and friends, some-
times the weekend doesn't
quite feel long enough.
But the true meaning of
Thanksgiving doesn't
involve cranberry sauce or
even football.
As kids, we're often taught
the American history of the
holiday, a celebration of
European settlers discovering
the new world, sharing a meal
with the land's native people.
Two very different groups,
breaking bread together, the
settlers giving thanks for
kindness of others in desper-
ate times.
Though we now know this
history lesson as more of a
fairytale, the idea lives on as
we give thanks each year.
What's unfortunate about
this specific holiday, besides
my cousin's turnip puff, is
though folks tend to get in the
Thanksgiving spirit, they
don't always keep the senti-
ment going throughout year. I
know I haven't.
In the past year, a lot has
changed.
I've moved, started a new job
and had to meet new people.
And so, in the spirit of
Thanksgiving, I've come up
with some reasons I'm
thankful. Reasons I hope to
remember each day of the
coming year.
My family - my mom and
dad have always supported me
in everything I've done. And
whether it's a late night chat or
a shoulder to cry on, my par-
ents are always there for me,
and for that I am thankful.
Column
Whitney South
Huron Expositor
My neighbours - Moving to
Seaforth, I've met a lot of
great people, but none as
wonderful as the people with
whom I'm lucky enough to
share my home. Though we
may live in separate apart-
ments, sometimes I feel like
we're more like roommates
and for that I am thankful.
My co-worker - Let's be
honest, everyone in town
knows Dianne. Better yet,
everyone in town knows
Dianne is awesome. Starting a
new job here at the paper, left
to completely fend for myself,
I wouldn't have gotten
through it - and probably still
couldn't - without her. And
for that, I am thankful.
My cousin - Before moving
to Huron County, I had never
met my cousin. Well, third
cousin if you want to be spe-
cific. Having the chance to
spend time with her over the
past year is something I will
always remember. And even
though she's moved away, I
miss her every day. She
taught me a lot and helped
me laugh again, and for that I
am thankful.
So remember the things
you gave thanks for this
week, and keep them with
you all year.
You'll be glad you did.
After all, it never hurts to
look on the bright side, each
and every day.
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