Fake budgets hide debt spike
Remember that kid in high school who would change his report card before taking it home to his parents?
It turns out premiers, mayors and prime ministers have been doing the same thing for years.
Take Ontario Premier Doug Ford.
Ford ran $46 billion worth of deficits over his first six years in office, according to Ontario’s public accounts. But those same public accounts show Ontario’s debt increased by $86 billion over the same period.
What gives?
Ford, like his predecessors before him, isn’t telling taxpayers the truth when it comes to the size of his budget deficits.
Ford is only telling Ontarians about “operational spending.” He’s not talking about debt the government takes on for projects like highways, schools and roads.
That’s like having two credit cards, but only telling your spouse about one of them.
