It’s common knowledge that Liberals like to exist in artificially constructed reality that gives them more comfort than directly confronting the truth. And normally we won’t have issue with that kind of behaviour. To each his own, we understand that.
But this time, it’s different. This time, it’s the government that’s delusional and the people who are suffering. It’s important to address some of the myths Ontario government likes to spread as ‘facts’. And let’s start with the economy. Ontario’s finance minister Charles Sousa says that the economy has grown by around 5 percent and the government is on its way to balance the budget in fiscal year 2017-2018.
Deconstructing Ontarian Economics
Okay, so first things first. The economy is indeed, by some metrics, doing well. Note the emphasis here is only on some metrics. Growth rate and balancing the budget are just two ways to look at the economy. Incidentally, these are the ways of viewing the economy that benefit the Liberals the most.
There are some other metrics of viewing the economy too. And these don’t just concern the larger economic picture. They affect the ordinary individuals. A balanced budget doesn’t necessarily affect the common individual. The household income does. And the average disposable income, that was 10 percent higher than the country in 2000, is less than the national average for the first time.
Countering Facts With Facts
One of the reasons the Ontarian economy experienced growth is that the province’s manufacturing sector benefitted from the low price of the Canadian dollar and a strong US economy. But the per-person economic growth wasn’t as impressive as the bigger picture. Between 2003 and 2014, it hovered somewhere around just 0.3 percent.
Liberals have single-handedly doubled the provincial debt to more than $300 billion. This makes Ontario not just Canada’s but the world’s most indebted province. This is the underbelly of the “booming” Ontarian economy.
And it’s not pretty.