Ontario Citizens set to pay $21.2 billion debt interest this year

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Do you think they care because they have NO idea where money comes from!

Perhaps they think its magic

 

Liberal communists doing what they do best… spending other people’s money and bankrupting them, leaving a sorry mess for the grownups to fix.

TRUDEAU LIBERAL COMMUNISTS BANKRUPTING CANADA ONE CITIZEN A TIME

 

Frazier Institute

Government debt imposes real costs on individual Canadians and their families in the form of interest payments. Governments must pay interest on their debt—it’s not a choice. And the more money governments spend on interest payments, the less money is available for the programs and services that matter to Canadians.

As recent Fraser Institute study points out, interest on the federal debt will total $24.9 billion this year, more than what Ottawa plans to spend on transfers to Canadian families in the form of children benefits ($21.8 billion).

But how much must Canadians pay in provincial government debt interest this year?

In Ontario, the province expects to spend $11.4 billion servicing its debt. When we combine Ontario’s debt servicing costs with the province’s share of federal debt servicing costs, Ontario taxpayers are responsible for a total of $21.2 billion in federal-provincial interest payments. That’s roughly equivalent to what the Ontario government collects in HST ($23.8 billion) and a lot more than what it spends on physicians ($13.1 billion in 2015).

https://www.fraserinstitute.org/blogs/ontario-taxpayers-must-pay-212-billion-in-government-debt-interest-this-year

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